On September 11, 2025, the Vietnamese stock market found itself at a crossroads, with investors facing a swirl of short-term volatility and long-term opportunity. As the VN-Index hovered near the 1,700-point mark before swiftly correcting to a range between 1,624 and 1,667 points, the mood among individual investors oscillated between optimism and uncertainty. According to Nhadautu.vn, this period of intense fluctuation from late August into early September left many market participants questioning whether to stick with traditional stock holdings or pivot toward more stable investment vehicles like fund certificates (CCQ).
Amid this backdrop, one company stood out for its remarkable performance and bold moves: SSI Securities Company. As reported by CafeF, SSI’s stock soared to a new peak of 42,450 VND per share on September 11, 2025, marking a staggering 63% increase since the beginning of the year. This surge propelled SSI’s market capitalization to a record 88,100 billion VND, cementing its position as the leading listed securities firm in Vietnam by market value.
But it wasn’t just share price gains that had SSI’s shareholders celebrating. The company’s Board of Directors announced that September 26, 2025, would be the final registration date for shareholders to qualify for a 10% cash dividend for 2024—equivalent to 1,000 VND per share. With nearly 2.1 billion shares outstanding, SSI is set to distribute over 2,075 billion VND to its investors, with the payment scheduled for October 15, 2024. For many, this payout was a welcome windfall after a year of market ups and downs.
SSI’s success wasn’t limited to the secondary market. The company recently completed a private placement of more than 104 million shares to professional securities investors, achieving a full subscription at a price of 31,300 VND per share and raising over 3,256.5 billion VND. SSI has outlined clear plans for these funds: half will go toward boosting capital for securities investment activities, while the other half will support margin lending—a move designed to reinforce its competitive edge in a rapidly evolving market.
Looking ahead, SSI has even bigger ambitions. At the end of September, the company will convene an extraordinary General Meeting of Shareholders to deliberate on a rights offering of up to 415.58 million shares for existing shareholders. The proposed subscription ratio is 5:1, meaning that for every five shares currently held, shareholders can purchase one new share at an anticipated price of 15,000 VND each. If the offering is fully subscribed, SSI could raise as much as 6,234 billion VND, further increasing its charter capital from 20,778 billion VND to 24,935 billion VND. The proceeds are earmarked for additional investments and margin lending, reinforcing the company’s commitment to growth and innovation.
Financially, SSI’s business results have been strong. In the first half of 2025, the company reported operating revenue of 5,152 billion VND, up 20% year-over-year, and after-tax profits of 1,812 billion VND, a 12% increase. These figures underscore the resilience and adaptability of SSI in a market that has been anything but predictable.
While SSI’s story is one of triumph, the broader Vietnamese stock market has been marked by turbulence. According to Nhadautu.vn, liquidity remained high throughout the recent period, but capital rotated swiftly between sectors such as banking, real estate, and securities. This rapid movement has left many individual investors struggling to keep up with the shifting tides, unsure whether to ride out the waves with stocks or seek shelter in alternative investments.
The emotional rollercoaster of recent weeks has been palpable. Many investors, gripped by FOMO (fear of missing out) during market rallies, found themselves panic-selling at the first sign of a correction. This pattern of buying at peaks and selling at troughs has eroded long-term returns and undermined investment discipline. As a result, there’s been a noticeable uptick in interest for more stable, less volatile investment options.
Three key signals have emerged, suggesting it may be time for some investors to reconsider their strategies. First, the speed and unpredictability of market movements have left many without sufficient time to thoroughly research individual companies. Second, the emotional toll of short-term swings has led to impulsive decisions and a breakdown in investment discipline. Third, even as the stock market adjusts, Vietnam’s macroeconomic fundamentals remain robust: August saw export growth of 14.5%, retail sales up 10.6%, and industrial production climbing 8.9%. These positive indicators point to a recovering economy, but not all investors feel comfortable betting on single stocks to capture these gains.
This is where investment fund certificates (CCQ) come into play. As highlighted by Nhadautu.vn, CCQs are seen as a prudent choice for those looking to maintain discipline, diversify their portfolios, and benefit from professional fund management—without being whipsawed by every market fluctuation. Many open-ended funds in Vietnam have reported outstanding performance in July and August 2025, attracting increasing attention from retail investors eager for stability and steady returns.
The digital transformation of investment platforms has further accelerated this shift. Online fund distribution services like InvestingPro have become popular, offering real-time data, comprehensive fund information, and user-friendly tools to help investors choose products that match their risk profiles. This trend reflects a broader move toward transparency and accessibility in Vietnam’s financial sector, empowering individuals to make informed decisions even in uncertain times.
Of course, the debate between holding stocks and switching to CCQs isn’t new, but it has gained renewed urgency as market volatility persists. For some, the allure of direct equity investment—especially in high-performing companies like SSI—remains strong. For others, the promise of diversification and professional oversight offered by CCQs is too attractive to ignore, particularly when emotions run high and time is scarce.
As the Vietnamese stock market continues to mature, the choices facing investors will only grow more complex. The recent success of SSI demonstrates the rewards that can come from bold moves and careful planning, but it also highlights the importance of adaptability in a rapidly changing landscape. Whether investors choose to double down on stocks, pivot to fund certificates, or pursue a mix of both, the key will be staying disciplined, informed, and open to new opportunities as they arise.
In a market defined by both risk and reward, Vietnamese investors are learning to navigate uncertainty with a blend of caution and ambition—qualities that will serve them well in the months and years ahead.