Foreign Net Selling Surges to VND 6,377B in Mid-May: ACB, MBB, HPG Hit Hardest
This Aveluro analysis covers ACB (Á Châu) in the Banking sector. The classified event type is foreign flow, with negative sentiment and a deterministic market-impact score of 4.9/10. Aveluro classifies this story as a negative catalyst and risk signal for the affected stock. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
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Overview
Foreign investors intensified net selling in the mid-May week, offloading a net VND 6,377 billion (USD 255 million) across Vietnamese exchanges. The selling pressure was concentrated on banking and blue-chip stocks, with ACB, MBB, and HPG recording the largest net outflows. The VN-Index fell 2.31% during the week to close at 1,877.13 points.
Key Facts
- Foreign investors net sold VND 6,377 billion across the entire market in the week ending mid-May.
- On HoSE, net selling reached VND 6,281 billion; on HNX, VND 130 billion; on UPCoM, net buying was VND 34 billion.
- ACB was the most sold stock with net selling of VND 603 billion, followed by MBB (VND 602 billion) and HPG (VND 507 billion).
- Other stocks with significant net selling: FPT (VND 294 billion), VIC (VND 262 billion), MWG (VND 231 billion), VHM (VND 193 billion), STB (VND 184 billion), CTG and TCB (each VND 169 billion).
- VCB led net buying with VND 1,325 billion, followed by BSR (VND 153 billion) and BID (VND 128 billion).
- The VN-Index declined 44.47 points (-2.31%) week-on-week to close at 1,877.13 points.
What Happened
According to exchange data, foreign investors were net sellers across all three Vietnamese exchanges during the mid-May trading week, with total net selling of VND 6,377 billion. The selling pressure was particularly heavy on the Ho Chi Minh Stock Exchange (HoSE), where net selling amounted to VND 6,281 billion. On the Hanoi Stock Exchange (HNX), net selling was VND 130 billion, while on UPCoM, foreign investors were net buyers of VND 34 billion.
The sell-off was concentrated in banking and large-cap stocks. ACB, MBB, and HPG were the most heavily sold, each recording net selling of over VND 500 billion. Other notable names included FPT, VIC, MWG, VHM, STB, CTG, and TCB. In contrast, VCB saw strong net buying of VND 1,325 billion, with BSR and BID also attracting net inflows.
Market Context
ACB (HOSE) closed at VND 22,850 on May 22, 2026, up 0.22% on the day but under significant foreign selling pressure during the week. MBB (HOSE) ended at VND 24,650 (-0.60%), HPG (HOSE) at VND 26,350 (-0.75%), and FPT (HOSE) at VND 75,100 (-1.83%). The broad market sell-off by foreign investors contributed to the VN-Index’s 2.31% weekly decline, as the index pulled back from its all-time high to the 1,860-1,880 support zone.
Strategic Significance
The persistent foreign net selling, particularly in banking and blue-chip stocks, reflects ongoing risk-off sentiment among international investors toward Vietnamese equities. The concentration of selling in ACB and MBB suggests sector-specific concerns, possibly related to asset quality or earnings outlook. The strong net buying in VCB, however, indicates selective preference for higher-quality banks. The divergence between VCB and other banks may signal a flight to safety within the banking sector.
What to Watch
- Weekly foreign flow data for the following weeks to see if selling pressure persists or abates.
- Q2 2026 earnings reports from ACB, MBB, and HPG for any fundamental triggers.
- VN-Index price action around the 1,860-1,880 support level and potential rebound.
- Any policy changes or macroeconomic data that could shift foreign investor sentiment.
- Net buying in VCB and whether it continues to attract foreign capital.