Vietnam's VN-Index Recovers, Investor Interest Surges in ACB Bank

Vietnam's stock market saw a positive turn on June 9, with the VN-Index climbing 2.52 points to close at 1,793.05. The broader market sentiment was positive, reflected in the HNX-Index and UPCoM-Index also posting gains. The VN30 index, representing large-cap stocks, showed particular strength, increasing by 15.11 points or 0.78%, indicating robust performance in major companies.

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ACB is entering a new growth phase after a long period of accumulation. Increased liquidity along with price increases shows that money is returning to this banking stock group.

The rally was largely propelled by strong showings in the banking, retail, and technology sectors. ACB bank emerged as a significant focal point, experiencing a substantial 4.95% surge in its stock price to reach 26,500 Vietnamese dong per share. This surge was accompanied by a doubling of its trading volume compared to the recent monthly average, signaling strong investor interest. ACB's stock is now approaching its all-time high set in August 2025.

Analysts are expressing optimism about ACB's trajectory. Agribank Securities (Agriseco) believes ACB is entering a new growth phase, supported by increasing liquidity and price momentum, and has set a target price of 28,500 dong. MB Research highlights ACB's strong financial health entering 2026, noting a low non-performing loan ratio of 1% and a 0.7% ratio for Stage 2 loans as of Q1 2026. Furthermore, the return of the Âu Lạc shareholder group, holding approximately 7% of ACB's capital, is expected to drive new growth opportunities, particularly in serving corporate clients within the industrial park, logistics, and maritime transport sectors.

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ACB enters 2026 with a relatively positive financial picture. The biggest bright spot lies in asset quality, with the bad debt ratio remaining at 1% at the end of Q1 2026, while the Stage 2 loan ratio was 0.7%.

While ACB led the gains, other banking stocks also performed well, including STB, VPB, TPB, VCB, TCB, and MBB. The securities sector also saw positive movement with stocks like VND, SSI, VIX, and VCK trading in the green. However, the real estate sector continued to exert downward pressure, with VIC being the most significant drag on the VN-Index, followed by GAS, VHM, BSR, PLX, NVL, and VRE.

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The return of the Âu Lạc shareholder group with an ownership ratio of about 7% of ACB's charter capital, equivalent to nearly 360 million ACB shares, could open up new growth momentum for the bank.