The index rose 4.71% to close the session at a one-month high of 1,756.55.

FTSE Russell said on Tuesday that it will upgrade Vietnam from frontier to emerging market status in September, when it will start adding the country to its global equity indexes in phases.

Trading on the Ho Chi Minh Stock Exchange nearly doubled to VND34.9 trillion (US$1.33 billion) on Wednesday.

The VN-30 basket, comprising the 30 largest capped stocks, saw almost all tickers gain, with seven hitting their ceiling prices.

These included VRE of retail real estate arm Vincom Retail, STB of Ho Chi Minh City-based lender Sacombank, TCB of private lender Techcombank, VIB of Vietnam International Bank, VHM of property giant Vinhomes, SSI of brokerage SSI Securities Corporation and FPT of tech giant FPT Corporation.

Only one blue chip fell, which was LPB of Fortune Vietnam Bank with a 1.04% drop.

Foreign investors were net seller to the tune of VND653 billion, mainly selling VIC and MBB.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 2.68%, while the UPCoM-Index for the Unlisted Public Companies Market went up 1.64%.