Vingroup JSC is among over 100 Vietnamese companies added to FTSE Russell’s Global Equity Indexes late Friday, marking a key step in the country’s long-awaited transition from frontier to secondary emerging market status. Vingroup was joined by Hoa Phat Group JSC, Vietnam Prosperity Joint Stock Commercial Bank and Vinhomes JSC as new constituents of the closely watched benchmarks. As many as six stocks were also added to the widely-followed FTSE All-World Index.

“There could be some positive sentiment towards these names,” a fund manager said ahead of the review. The additions mark a milestone for Vietnam after years as a frontier market, putting its equities in the same ranks as larger economies. Investors will now watch whether the upgrade attracts fresh foreign inflows after a prolonged stretch of overseas selling.

Vingroup shares have already attracted investors positioning for potential index upgrade, rallying 21% this year and surging more than 700% in 2025. FTSE confirmed the transition will be implemented in four tranches starting Sept. 21 through 2027. The index compiler previously estimated the upgrade may redirect as much as $6 billion into the market, though overseas investors have sold about $3.5 billion of Vietnamese stocks in 2026 through Aug. 21.