(Adds details) HANOI, Oct 8 (Reuters) – Vietnam's main stock index was up more than 2% in early trade on Wednesday after index provider FTSE Russell said it would upgrade the country to emerging market status, effective from next September and subject to an interim review. The index has surged 33% this year, making it the best-performing stock market in Southeast Asia. It has hit record highs multiple times this year. "FTSE upgrade of Vietnam's equity markets sends a strong signal to global investors that this export powerhouse can withstand the near-term trade headwinds," , said Suvir Loomba, Regional Head of Securities Services, Asia at HSBC, in a statement. Vietnam had been added to FTSE Russell's watchlist from 2018. Rival index provider MSCI continues to classify Vietnam as a frontier market. According to FTSE Russell, Vietnam's upgrade from frontier status would be effective on September 21, 2026 and would undergo the interim review in March 2026 to determine whether enough progress had been made to provide access to global brokers. (Reporting by Phuong Nguyen; Editing by John Mair and David Stanway)
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