What is the difference between the VN-Index and the VN30?

The VN-Index reflects stocks listed on HOSE, weighted by market capitalization. The VN30 includes only 30 stocks selected by market capitalization, free float and liquidity, with capped weights and reviews in January and July under the HOSE rules cited by the source.

Can I buy the VN-Index directly?

You cannot buy the VN-Index, because it is a measurement rather than an investment product. Investors usually follow an index through a fund that tracks it, such as an ETF tracking the VN30, and each fund has its own fees and risks.

If the VN-Index rises, will my stocks rise too?

Not necessarily. The VN-Index can rise because of a few large-cap stocks while many other stocks fall. Your result depends on the specific assets you hold.

Why does Vietnam have HOSE, HNX and UPCoM?

Each market has a different role and different requirements. HOSE and HNX are the two stock exchanges where shares are listed, while UPCoM is for shares of unlisted public companies and usually has lower requirements.

When is the VN-Index calculated?

The VN-Index is updated continuously during the trading session and its value is fixed when the session closes. The closing level is the figure usually quoted in the news.

What is the VN-Index? VN30, HOSE, HNX and UPCoM explained

Key takeaways

The VN-Index tracks stocks on HOSE: it is weighted by market capitalization, so the largest companies move it the most.
Percentages tell you more than points: the same points move means something different at different index levels, so percentage changes are easier to compare.
VN30 is a narrower index: it holds 30 large, liquid HOSE stocks and, according to the source, is reviewed every January and July.
HOSE, HNX and UPCoM are separate markets: each has its own index and its own requirements, and none of these indices represents the whole economy.

What is the VN-Index?

The VN-Index is the main index of the Ho Chi Minh City Stock Exchange (HOSE). It reflects price movements of the stocks listed on that exchange. It is weighted by market capitalization (a company's total market value), so the bigger the company, the more it affects the VN-Index. The index started at a base of 100 points when HOSE held its first trading session in 2000.

When the news in Vietnam says "the market rose today", it usually means the VN-Index. Like any stock market index, it is a measurement, not a stock or a product you can buy directly.

What does the VN-Index measure?

The VN-Index shows whether the overall value of the group of stocks on HOSE is higher or lower than before. Because it is weighted by market capitalization, each stock does not get an equal "vote".

A hypothetical example: a very large bank rises 5%, and ten small companies also rise 5%. That one bank can move the VN-Index more than all ten small companies combined. The reverse is also true: if just a few large stocks fall sharply, the VN-Index can fall even while most other stocks rise slightly.

So a rising VN-Index does not mean most stocks are rising. To see how broad a move is, also check how many stocks rose and how many fell during the session.

How to read points and percentage changes

A VN-Index points figure only means something when you compare it with another level. A headline saying "VN-Index up 25 points" needs to be set against where the index currently stands:

From 1,250 to 1,275 points: up 25 points, or about 2%.
From 500 to 525 points: also up 25 points, but that is 5%.

These figures are only examples to show the calculation. When you compare different periods, the percentage change is usually more useful than the number of points, because the same points move means something different at different index levels.

What is the VN30?

The VN30 is an index of 30 stocks on HOSE, selected by market capitalization, free float (the share of stock available for public trading) and liquidity. According to the HOSE index ground rules cited by the source, its members are reviewed twice a year, in January and July, and weights are capped, for example so that no single stock makes up more than 10%.

Put simply, the VN-Index covers the stocks on HOSE, while the VN30 focuses on the largest and most actively traded companies. Some ETFs in Vietnam are designed to track the VN30; how they compare with funds abroad is covered in a separate lesson on Vietnamese and US ETFs.

How are HOSE, HNX and UPCoM different?

Stocks in Vietnam trade on three main markets, and each has its own index:

Market	What it is	Main index
HOSE	The Ho Chi Minh City Stock Exchange, where many large companies are listed	VN-Index, VN30
HNX	The Hanoi Stock Exchange, which lists stocks and runs trading in bonds and derivatives	HNX-Index
UPCoM	A trading market for shares of unlisted public companies, operated by HNX	UPCoM-Index

The requirements for trading on UPCoM are usually lower than those for listing on HOSE or HNX. So when you look into a stock, it helps to know where it trades, because disclosure standards and liquidity can differ.

The VN-Index is not the whole economy

The VN-Index includes only companies listed on HOSE, and it is strongly influenced by a few large sectors on that exchange. Many parts of the economy that contribute a great deal to output are not in the index at all. That is one reason GDP growth does not necessarily push the VN-Index higher; a separate lesson on the economy and the stock market explores this link.

How to read the VN-Index as a beginner

When you read news about the VN-Index, ask yourself:

How big is the change in percentage terms, not just in points?
How many stocks rose and how many fell, or did a few large stocks drive the index?
Is the investment I am looking at actually in the VN-Index or the VN30?
Is this a move in a single session, or a trend over several years?

The VN-Index is a tool for understanding market context, not a signal to buy or sell. Its day-to-day movements are part of the market risk that long-term investors still have to accept.

Next step

You now know what the VN-Index measures and why a few large stocks can pull the whole index up or down. That raises a practical question: if you cannot buy the index, how can you get exposure to a whole basket of index stocks in a single purchase? The next core lesson explains what an ETF is, a fund that can be designed to track an index such as the VN30, while the core lesson on stock market indices puts the VN-Index alongside other major indices.

Continue the main path: What is an ETF?

Back to the core lesson: What is a stock market index?

This content is for personal finance education only and does not constitute personalized investment advice. Consider your own goals, time horizon, ability to bear losses, and financial circumstances before investing.