Pocket Option: List of Stock Codes by Industry - The Key to Optimizing Investment Portfolios in Vietnam
In the context of Vietnam's increasingly strong stock market development, mastering the list of stock codes by industry has become an essential tool for every investor. This article will help you deeply understand how to classify, evaluate and build effective investment strategies based on industries, thereby optimizing profits and controlling risks in the Vietnamese stock market.
The Importance of Classifying Stock Codes by Industry
Vietnam's stock market in Q1/2025 has witnessed strong differentiation between industries. While the technology sector grew by 15.3%, the aviation sector decreased by 8.7%. Mastering the list of stock codes by industry is not just an analytical tool but also the foundation for a systematic investment strategy. When investors understand stock industry groups clearly, they can more accurately predict market trends during each economic phase.
In early 2025, Vietnamese investors are facing many challenges: high interest rates, inflationary pressure, and exchange rate fluctuations. In this context, classifying and closely monitoring stocks by industry brings many practical benefits:
- Effective capital allocation to industries with good resistance to inflation
- Early detection of industries benefiting from new economic policies (such as renewable energy with Decision 21/2024/QĐ-TTg)
- Risk minimization through diversification into industries with low correlation
- Effective utilization of specific development cycles for each industry
According to SSI Research's March 2025 report, professional investment funds in Vietnam are increasingly applying industry-based investment strategies. Pocket Option - a leading investment platform has developed the "Industry Scanner" tool to help users analyze industry performance in the Vietnamese market in real-time.
Industry Classification Structure in the Vietnamese Stock Market
The Vietnamese stock market has applied the ICB (Industry Classification Benchmark) standard since 2021, with some adjustments to suit the country's economic characteristics. Currently, the VN-Index has 11 level-1 industry groups, 27 level-2 industry groups, and 75 level-3 industry groups. Mastering this structure is the first step to building an accurate list of stock codes by industry.
| Level-1 Industry Group | Some Notable Sub-industries | Examples of Leading Stocks | Market Cap (billion VND - 04/2025) |
|---|---|---|---|
| Finance - Banking | Banking, Insurance, Securities | VCB, BID, CTG, SSI, VND | 1,750,000 |
| Real Estate | Real Estate Development, Leasing, Management | VHM, NVL, KDH, DXG | 860,000 |
| Industry | Construction, Materials, Machinery & Equipment | HPG, HSG, PC1, CTD | 745,000 |
| Consumer Goods | Food & Beverages, Retail, Pharmaceuticals | MSN, VNM, MWG, PNJ | 680,000 |
| Oil & Gas - Energy | Extraction, Processing, Distribution | GAS, PLX, PVD, PVS | 425,000 |
Characteristics of the Industry Classification System in Vietnam
The industry classification system in Vietnam has unique characteristics that investors need to understand clearly. According to the latest report from the State Securities Commission (February 2025), there are 5 important features of this system:
- Multi-sector conglomerates like Vingroup (VIC), BIDV (BID) are classified based on their main revenue source (>50% of total revenue)
- Finance and Real Estate sectors account for up to 47.3% of VN-Index's market capitalization, much higher than other markets in the region
- Since 2023, technology companies like FPT, CMG have been separated into their own industry group instead of being merged with Telecommunications
- HOSE and HNX have some minor differences in detailed level-3 industry classification
- Pocket Option applies a proprietary "5-3-1" classification system (5 main industry groups, 3 evaluation criteria, 1 investment point)
Analysis from Vietcombank Securities shows that the industry structure on Vietnam's stock market is gradually approaching developed markets, with technology sector weight increasing from 2.1% (2020) to 7.8% (Q1/2025).
List of Leading Industry Stocks and Their Influence
In the Vietnamese market, each industry has its "blue-chips" - leading stocks that account for a large proportion of market capitalization and liquidity. According to data updated to April 2025, 30 leading stocks account for up to 73.2% of the total market capitalization. Understanding these stocks is key to reading market trends.
| Industry | Leading Stocks | Market Cap Weight (%) | Q1/2025 Fluctuation (%) | Average P/E |
|---|---|---|---|---|
| Banking | VCB, BID, CTG, TCB | 35.8% of VN-Index | +8.7% | 12.5 |
| Real Estate | VHM, VIC, NVL | 14.3% of VN-Index | -3.2% | 18.3 |
| Steel | HPG, HSG, NKG | 6.2% of VN-Index | +15.4% | 10.7 |
| Retail | MWG, PNJ, FRT | 4.8% of VN-Index | +7.2% | 15.6 |
| Oil & Gas | GAS, PLX, BSR | 5.1% of VN-Index | -2.5% | 13.2 |
Based on Q1/2025 trading data, leading stocks show some notable characteristics: high liquidity (average trading volume >5 million shares/session), price volatility 30% lower than midcap stocks in the same industry, and average foreign ownership of 34.6%.
The list of stock codes by industry, when analyzed from a correlation perspective, reveals some interesting phenomena. According to research by Pocket Option (3/2025), when the banking sector increases by 1%, the real estate group typically increases by 0.7%, while the securities group can increase by up to 1.4%.
The "Leaders-First" Strategy
The "Leaders-First" strategy has become a popular method in Vietnam since early 2025. Essentially, this method uses leading industry stocks as "early indicators" for the entire industry's trend.
Pocket Option's head of analysis recommends investors monitor 4 important indicator groups for leading stocks:
- Abnormal trading volume (increase >200% compared to 20-session average) often signals a trend change
- Foreign room fluctuation (especially with stocks at room limit like VCB, VHM)
- Insider trading from board members and related persons
- Degree of divergence between leading stock prices and the general industry index
Industry Cycle Analysis and Application in Stock Selection
Each industry in the Vietnamese market has its own development cycle, often different from developed markets. According to research by Dr. Nguyen Minh Phong (Finance Academy, 2024), industry cycles in Vietnam are typically 15-20% shorter than the US market and are strongly influenced by specific policy factors.
| Cycle Phase | Characteristics in Vietnam | Promising Industries (2025) | Evaluation Indicators |
|---|---|---|---|
| Early Recovery | SBV reduces interest rates, public investment disbursement accelerates | Banking, Infrastructure Construction, Construction Materials | Credit growth, FDI disbursement |
| Mid-Growth Cycle | GDP growth >6.5%, CPI <4%, businesses expand investment | Technology, Retail, Electricity - Water | PMI, Retail sales, Registered FDI |
| Late Growth Cycle | Inflation rises, SBV increases interest rates, asset bubbles | Oil & Gas, Mining, Luxury Goods | CPI, Interbank interest rates, Exchange rates |
| Recession | GDP growth <5%, workforce reduction, NPL rate increases | Healthcare, Utilities, Telecommunications | Unemployment rate, NPL, PMI |
Applying industry cycle analysis to the list of stock codes by industry helps investors:
- Precisely locate each industry's current position in the cycle (currently in Q2/2025, retail and technology sectors are in the middle of the growth cycle)
- Forecast potential capital rotation between industry groups in the next 3-6 months
- Identify optimal entry/exit points for each industry group based on macroeconomic indicators
According to Pocket Option's latest analysis (4/2025), Vietnam's market is in the early stage of the recovery cycle, with banking, construction materials, and retail sectors gradually recovering after the 2023-2024 adjustment period. Q1/2025 credit growth data (+7.2% year-on-year) and public investment disbursement (reaching 23.5% of annual plan) support this assessment.
Tools and Information Sources for Building Industry-Based Stock Lists
To build accurate and updated industry-based stock lists, Vietnamese investors can leverage specialized data sources. Below are the most reputable information sources according to expert evaluations:
| Information Source | Notable Features | Type of Data Provided | Usefulness Rating |
|---|---|---|---|
| HOSE & HNX Data Services | Original data, real-time updates | Official industry lists, detailed trading data | 5/5 - Authoritative source |
| FiinTrade | In-depth analysis, extensive historical data | Industry comparisons, financial indicators, forecasts | 4.5/5 - Professional but fee-based |
| Pocket Option Sector Scanner | Intuitive interface, real-time data | Industry correlation analysis, multi-criteria filters | 4.8/5 - Comprehensive and user-friendly |
| TCBS EzSearch | Free, detailed classification | Stock filtering by 27 level-2 industries | 4/5 - Good for beginners |
| VCSC/SSI Industry Reports | Deep analysis, long-term forecasts | Industry prospects, valuation analysis | 4.7/5 - High quality analysis |
Pocket Option has developed a unique "5D Sector Analysis" tool (launched in March 2025), providing 5 dimensions of industry analysis:
- Quantitative analysis: Comparing industry average P/E, P/B, ROE, ROA in real-time
- Cash flow analysis: Tracking foreign capital, proprietary trading and individual investor flows in/out of industries
- Technical analysis: Industry trend charts with MACD, RSI, Bollinger Bands indicators
- Correlation analysis: Correlation matrix between 11 level-1 industries and macroeconomic indices
- Abnormal alerts: Notifications when unusual price/volume movements occur in an industry
Criteria for Evaluating Stocks Within the Same Industry
After obtaining an industry-based stock list, comparing companies within the same industry requires an appropriate evaluation criteria system. Below is a detailed criteria set recommended by experts from Pocket Option:
| Criteria Group | Specific Indicators | Reference Threshold (Q2/2025) | Evaluation Weight |
|---|---|---|---|
| Valuation | P/E, P/B, EV/EBITDA, PEG | P/E < industry average by 15%, PEG < 1.2 | 25% |
| Profitability | ROE, ROA, Gross/net profit margins | ROE > 15%, Profit margin growth > 0 | 30% |
| Growth | 3-year revenue CAGR, 3-year profit CAGR | Revenue CAGR > 12%, Profit > 15% | 20% |
| Financial Health | D/E, Current ratio, Quick ratio | D/E < 1.5, Current ratio > 1.2 | 15% |
| Technical Factors | RSI, MACD, Bollinger Bands | Price > MA50, RSI < 70, Volume increasing | 10% |
Effective Industry-Based Investment Strategies for the Vietnamese Market
Based on industry-based stock lists and analytical tools, investors can apply many effective investment strategies. Here are 3 strategies that have been tested on the Vietnamese market during 2023-2025:
1. Sector Rotation Strategy
The sector rotation strategy requires investors to flexibly move capital between industries according to each phase of the economic cycle. Applied to Vietnam's 2025 market, this strategy needs to be adjusted to suit current macroeconomic characteristics: inflation controlled at 3.5-4%, stable interest rates, and recovering credit growth.
| Economic Phase | Recognition Indicators | Industries to Invest In (VN) | Example Stocks |
|---|---|---|---|
| Early Recovery (current) | SBV reduces interest rates, credit growth >5% | Banking, Residential Real Estate, Construction | TCB, VCB, KDH, DXG, CTD, HBC |
| Growth (forecast Q3-4/2025) | GDP >6%, PMI >52, retail sales +10% | Technology, Retail, Manufacturing | FPT, CMG, MWG, PNJ, HPG, DGC |
| Slowdown (forecast 2026) | CPI >4.5%, SBV increases interest rates, commodity prices rise | Oil & Gas, Food, Electricity | GAS, PLX, MSN, VNM, POW, NT2 |
| Recession | GDP <5%, rising unemployment, NPL >3% | Healthcare, Utilities, Telecommunications | DHG, DMC, TLG, REE, VGI, VNP |
According to Pocket Option's report (4/2025), investors applying the sector rotation strategy in Vietnam over the past 5 years achieved an average performance 7.2% higher than the VN-Index. This proves the effectiveness of capital allocation according to industry cycles based on regularly updated industry-based stock lists.
2. Sector Focus Strategy
The sector focus strategy is an appropriate choice for investors with expertise in specific fields. Unlike the rotation strategy, this method requires deep diving into one or a few industries and exploiting information advantages.
When applying this strategy to Vietnam's 2025 market, investors need to focus on 5 key factors:
- Identify "industry locomotives" and leading indicators - Example: For banking, VCB's NIM ratio and credit growth are usually indicators for the entire industry
- Deep analysis of the value chain within the industry - Example: In real estate, analyze from land funds (NVL, KDH) to project development (VHM) and construction materials (HPG, HSG)
- Monitor industry-specific policies - Example: The 2024 Land Law strongly impacts the industrial real estate segment (KBC, SZC, IDC)
- Analyze competitors and market share - Example: Electronics retail industry with the race between MWG, FRT, and DGW
- Apply specific evaluation metrics for each industry - Example: Pharmaceutical industry should consider R&D/revenue and number of exclusive products
According to data from Pocket Option, industry-specific investment funds in Vietnam (such as Dragon Capital for finance, VinaCapital for real estate) achieved superior performance of 12-15% compared to multi-sector funds during 2022-2025.
Important Notes When Using Industry-Based Stock Lists
Although industry-based stock lists are powerful investment tools, Vietnamese investors should note the following points to avoid common mistakes:
- Don't rigidly apply industry average valuations - VCB always trades at a P/E 20-30% higher than the banking industry average due to its special position
- Pay attention to differentiation within industries - The 2025 real estate market witnessed strong differentiation between premium segment (15.3% growth) and mid-range segment (5.8% decrease)
- Regularly update industry classifications - From Q1/2025, HOSE has adjusted the classification of 15 listed companies, such as VGC moving from Construction to Materials group
- Consider company-specific factors - POW belongs to the Electricity industry but is heavily influenced by input gas prices, similar to the Oil & Gas group
- Evaluate policy impacts on each segment - Decree 08/2024/ND-CP on construction permits positively impacts the housing segment but negatively affects the office segment
The "Common Mistakes in Industry-Based Investing" report by Pocket Option (2/2025) indicates that 73% of individual investors often apply industry analysis too rigidly, not paying attention to differences in business models and financial structures of each company.
Conclusion: Optimizing Investment Efficiency with Industry Classification
Vietnam's stock market in 2025 is witnessing a strong wave of differentiation between industries. In this context, industry-based stock lists become strategic tools helping investors capture opportunities and limit risks. The investment method based on industry classification not only helps diversify portfolios but also creates a competitive advantage through deep understanding of each sector's development drivers.
Through this article, we have analyzed in detail Vietnam's industry structure, the role of leading industry stocks, industry cycle analysis methods, and effective investment strategies based on industry-based stock lists. The figures updated to Q1/2025 provide a realistic view of the performance and prospects of each industry group.
Pocket Option not only provides comprehensive industry analysis tools but also continuously updates its evaluation system to suit the Vietnamese market's characteristics. The "5D Sector Analysis" toolset and real-time industry movement alert system help investors capture opportunities early, before information is fully reflected in prices.
Remember that success in investing comes not only from having a complete industry-based stock list but also from continuous learning, updating knowledge, and flexibly applying appropriate strategies for each market phase. With a systematic approach and suitable analytical tools, Vietnamese investors can completely outperform the general market index.