With the rapid development of Vietnam's economy and acceleration of its internationalization process, Vietnamese investors' demand for global asset allocation is growing. According to the latest data from the State Bank of Vietnam, cross-border capital flows reached a historic high in the first half of 2026, with a significant increase in the proportion of capital flowing to the US stock market. This phenomenon reflects Vietnamese investors' continued confidence in the US stock market and the significant value of US stocks as the world's largest, deepest, and most broad capital market.

This article will analyze the latest trends in Vietnam's capital flows, explore why US stocks remain an important choice for Vietnamese investors' asset allocation in the current global economic environment, and how to effectively seize US stock investment opportunities.

Vietnam's Capital Flows Reach Historic High

In 2026, Vietnam's economy continued its steady growth, with the Gross Domestic Product (GDP) expected to reach a growth rate of about 7%. As economic strength increases, the capital capacity of Vietnamese enterprises and individual investors also improves, and cross-border investment demand continues to grow.

According to the latest statistics from the State Bank of Vietnam, Vietnam's cross-border capital flows reached a record $35 billion in the first half of 2026, a year-on-year increase of 23%. Among these, the proportion of capital flowing to the US market reached 42%, an 8 percentage point increase from the same period in 2025, reaching a historic high. This data indicates that the US stock market has become the preferred destination for Vietnamese investors' cross-border capital allocation.

Analysts point out that the acceleration of Vietnam's capital flowing to US stocks is mainly driven by several factors: first, Vietnam's foreign exchange reserves continue to grow, reaching about $110 billion by June 2026, providing a solid financial foundation for cross-border investment; second, the degree of openness in Vietnam's capital account continues to increase, providing investors with more convenient cross-border investment channels; third, Vietnamese investors' demand for globally diversified asset allocation is increasingly strong, to diversify domestic market risks.

Why US Stocks Remain the Cornerstone for Vietnamese Investors

1. Market Size and Liquidity Advantages

As the world's largest capital market, the US stock market has a total market value exceeding $50 trillion, accounting for about 40% of the global stock market's total value. Such a massive market size provides investors with unparalleled liquidity and diversity. Vietnamese investors can access the world's most representative companies through the US stock market, from tech giants to traditional industry leaders, meeting different risk preferences and investment needs.

In contrast, Vietnam's stock market has a total market value of about $200 billion, with relatively limited liquidity. For institutional investors seeking large-scale allocation and individual investors with abundant capital, the US stock market provides a broader investment space.

2. Innovation Capability and Long-term Growth Potential

The US stock market has always been a leader in global technological innovation, especially in cutting-edge fields such as artificial intelligence, biotechnology, and clean energy. In 2026, US tech giants continue to make breakthrough progress in the AI field, with innovative products such as OpenAI's GPT-6 and NVIDIA's H200 chips constantly emerging, bringing rich returns to investors.

Although Vietnam's economy is growing rapidly, it is still in a catching-up stage in terms of technological innovation and high-end industries. By investing in US stocks, Vietnamese investors can share the dividends of global technological innovation and obtain higher long-term growth potential than the domestic market.

3. Global Economic Leadership

As the world's largest economy, the United States' economic policies and monetary policy have a profound impact on the global economy. Despite facing some challenges, the fundamentals of the US economy remain strong, and corporate profitability remains stable. In the first half of 2026, the US GDP growth rate reached 2.8%, and corporate profits increased by about 5% year-on-year.

By allocating US stock assets, Vietnamese investors can indirectly participate in the growth of the global economic leader, reducing the risks brought by economic fluctuations in a single country.

4. Sound Legal and Regulatory System

The US stock market has the world's most mature and comprehensive legal and regulatory system and regulatory framework, providing strong protection for investors. Information disclosure requirements are strict, and market manipulation is severely punished, creating a fair and transparent market environment for investors.

For Vietnamese investors, investing in US stocks means investing in a market environment with clear rules and strong supervision, reducing information asymmetry and institutional risks.

How Vietnamese Investors Can Seize US Stock Investment Opportunities

1. Reasonable Asset Allocation Proportion

For Vietnamese investors, the proportion of US stock assets in their global investment portfolio should be determined based on individual risk tolerance, investment objectives, and investment horizon. Generally, it is recommended to allocate 20%-40% of the total investment portfolio to US stocks to achieve a balance between risk diversification and return optimization.

Young investors can appropriately increase the proportion of US stock assets to obtain higher long-term returns; while investors approaching retirement should reduce the proportion and increase the weight of fixed-income assets.

2. Choose Suitable Investment Tools

Vietnamese investors can participate in US stock investment through various channels, including directly purchasing US individual stocks, investing in US ETFs, and through QDII funds. Different investment tools have different characteristics and applicable scenarios:

• US Individual Stocks: Suitable for investors who have in-depth research on specific industries and companies, which can obtain higher potential returns, but also face individual stock risks.
• US ETFs: Suitable for investors who want to diversify investments and reduce risks, especially ETFs tracking major indices such as the S&P 500 and Nasdaq 100.
• QDII Funds: Suitable for investors who lack direct investment channels or professional knowledge, participating in US stock investment through professional fund management.

3. Focus on Industry Rotation and Cycles

There are significant differences in performance among different industries in the US stock market, showing cyclical changes. Vietnamese investors should pay attention to industry rotation patterns and allocate to advantageous industries at appropriate times. In 2026, the following industries are worth paying attention to:

• Technology Sector: AI, cloud computing, semiconductors and other technological innovation fields continue to maintain strong growth.
• Clean Energy: With the acceleration of global carbon neutrality, clean energy technology is facing development opportunities.
• Healthcare: Population aging and increased health awareness are driving the continuous growth of the healthcare industry.
• Consumer Staples: Economic uncertainty increases, and defensive consumption demand rises.

4. Long-term Investment Perspective

Historical data shows that despite short-term fluctuations, the US stock market has maintained a stable upward trend in the long term. Vietnamese investors should establish a long-term investment philosophy, avoid being affected by short-term market fluctuations, and adhere to value investment and long-term holding strategies.

Research shows that investors who hold US stock assets for more than 10 years have a probability of over 90% of obtaining positive returns, with an average annualized return of about 10%. Long-term investment can not only smooth market fluctuations but also fully enjoy the wealth effect brought by compound growth.

Risk Warnings and Countermeasures

Despite many advantages, Vietnamese investors still need to pay attention to the following risks when participating in US stock investment:

1. Exchange Rate Risk

Vietnamese investors investing in US stocks face exchange rate fluctuation risks between the Vietnamese dong and the US dollar. When the Vietnamese dong appreciates against the US dollar, the US stock investment returns denominated in Vietnamese dong will decrease. To cope with this risk, investors can use exchange rate hedging tools such as currency forward contracts or options, or invest in ETF products specifically designed to deal with exchange rate risks.

2. Market Volatility Risk

The US stock market has high volatility, especially when economic data is released, policies change, or geopolitical events occur. Vietnamese investors should be mentally prepared, formulate reasonable stop-loss strategies, and avoid making irrational decisions due to short-term fluctuations.

3. Policy and Regulatory Risk

Changes in US regulatory policies may have a significant impact on specific industries or companies. Vietnamese investors should closely follow US policy trends, especially policy changes related to the invested industries, and adjust investment strategies in a timely manner.

4. Information Asymmetry Risk

Vietnamese investors may face time zone and language barriers in obtaining US market information, leading to untimely or incomplete information acquisition. To cope with this risk, investors can rely on the services of professional investment research institutions, or choose to invest in ETF products with high information transparency.

Future Outlook

Looking ahead, the trend of Vietnamese capital flowing to the US stock market is expected to continue. With the further development of Vietnam's economy and improvement of its internationalization level, Vietnamese investors' demand for global asset allocation will continue to grow. At the same time, the acceleration of Vietnam's capital account opening process will provide more convenience for cross-border investment.

For Vietnamese investors, the US stock market still has important strategic value. By reasonably allocating US stock assets, investors can not only obtain the dividends of global economic growth but also achieve portfolio diversification and risk diversification. However, investors should also fully understand the risks of US stock investment, make full preparations, and formulate scientific investment strategies.

Officials from the State Bank of Vietnam stated that they will continue to optimize foreign exchange management policies, support compliant cross-border investment activities, and strengthen investor education to help investors better understand international markets and improve the scientific accuracy of investment decisions.

In conclusion, in 2026 and beyond, the US stock market will still be an important part of Vietnamese investors' global asset allocation. Through rational investment, long-term holding, and risk control, Vietnamese investors are expected to obtain considerable returns in the world's largest capital market and achieve wealth preservation and appreciation.