SeABank's stock (ticker: SSB) is extending its streak of four consecutive rising sessions, with the two most recent sessions hitting their ceiling prices. The stock is currently trading around 20,900 VND with no sellers, while buy orders at the ceiling price are approximately one million units.

SSB's upward momentum began in late August when FTSE Russell announced the results of its semi-annual review, adding the stock to the FTSE Global All Cap Index. This change is expected to take effect from 21/9, coinciding with the stock market's upgrade from frontier to secondary emerging status.

SSB is the sole Vietnamese representative added to the MarketVector Vietnam Local Index, the benchmark for the VanEck Vietnam ETF. During its portfolio restructuring phase, the fund plans to purchase approximately 13,2 million SSB shares.

"This could lead to SSB being monitored by more international funds and investors, increasing liquidity, attracting capital flows, and supporting the stock price", SeABank stated in a press release on 26/8.

SSB has risen 40% from its "wave base" three weeks ago. This performance significantly surpasses that of industry-leading stocks during the same period, such as VCB (+4%), BID (+2%), and CTG (-3%). Consequently, the bank's market capitalization has exceeded 72 trillion VND.

SSB is attracting strong domestic and foreign capital amidst this rally. Yesterday's session saw a surge in trading value, reaching nearly 800 billion VND. Foreign investors have maintained a net buying streak for four consecutive sessions, totaling over 120 billion VND.

The SSB price chart (blue) shows superior performance compared to state-owned bank stocks like VCB, BID, and CTG. *Screenshot*

According to predictions from SSI Securities Company, Vietnam's stock market is expected to receive over 240 million USD in foreign capital this weekend, before FTSE officially upgrades its status early next week.

SSB could attract a net inflow of over 12 million USD, which is less than some blue-chip stocks such as: VPB (32,8 million USD), VHM (30,9 million USD), MCH (22,1 million USD), FPT (21,5 million USD), and MSN (20,9 million USD).

Analysts from Tien Phong Securities Company (TPS) believe that the official entry of upgrade-related capital is a primary catalyst for the market. They estimate that the total passive capital from exchange-traded funds (ETFs) and open-ended funds flowing into Vietnam throughout the entire upgrade roadmap could exceed 2,2 billion USD.

Meanwhile, a FTSE Russell representative stated that total foreign capital, including active funds, could reach 6 billion USD. Active capital, which is typically disbursed earlier and is highly selective based on business fundamentals, will be the main factor determining stock price differentiation.

Phuong Dong