According to a report on the Q4 2025 plan, the Vietnam Stock Exchange (VNX) achieved full-year revenue of over 2,905 billion VND, an almost 30% increase from 2024. Revenue from capital investment activities contributed nearly 2,864 billion VND, with a smaller portion derived from financial and operational activities.

After deducting expenses, VNX's post-tax profit reached nearly 2,850 billion VND, an increase of over 29% from 2024. This represents the highest profit since the entity commenced operations four years ago, following the consolidation of HoSE and HNX. VNX surpassed both its revenue and profit targets by 29%.

VNX commenced operations in mid-2021 under a parent-subsidiary structure. The consolidation of HoSE and HNX into two subsidiaries was intended to standardize organizational models, policies, development strategies, and information technology infrastructure, thereby better serving the market.

VNX's strong performance occurred during a dynamic year for the stock market. The VN-Index closed at 1,784.5 points, gaining nearly 41% from the start of the year. However, the Vingroup stock group's sustained growth significantly influenced the overall index. Excluding these stocks, the VN-Index would have ended the year around 1,400 points, rather than reaching a new peak.

Statistics from Vietcombank Securities (VCBS) indicate that the average trading volume across all three exchanges reached 1,152 million shares, a 34% increase year-on-year. Average trading value saw a significant surge, remaining high from July to October 2025. Despite a positive trend in the overall index, trading value in the last two months of 2025 decreased by about 40% compared to prior months.

The number of securities accounts also experienced remarkable growth. Data from the Vietnam Securities Depository and Clearing Corporation (VSD) shows that approximately 2,5 million new investor accounts were opened in 2025, the highest number recorded. By the end of 2025, the market comprised nearly 11,9 million accounts, representing 11.6% of the national population. This significantly surpassed the government's targets of 9 million accounts by 2025 and 11 million by 2030.

Investors observe an electronic display board at a securities company headquarters in Ho Chi Minh City. Photo: An Khuong

At the annual gong-hitting ceremony earlier this year, Minister of Finance Nguyen Van Thang noted that the stock market in 2025 maintained stable, secure, transparent, and highly liquid operations. Stock market capitalization grew by over 35%. The launch of a new information technology system and FTSE Russell's upgrade to secondary emerging market status were key factors driving this development.

Looking ahead to this year, Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission (SSC), outlined the unit's focus: maintaining growth, ensuring secure, transparent, and stable operations with high resilience, and adapting to new market models amidst integration. SSC plans to implement comprehensive solutions to enhance the quality, depth, and sustainability of the stock market.

Tat Dat