DMX Foreign vs Proprietary Flows Diverge on Aug 10; HOSE Sees Net Selling

Overview

On August 10, 2026, trading in DMX (Đầu tư Điện máy Xanh) on the UPCOM exchange showed a stark divergence between foreign investors and proprietary traders. Foreign investors net bought 173 billion VND worth of DMX shares, while proprietary desks at securities firms net sold 176 billion VND. This occurred against a backdrop of overall foreign net selling on HOSE, which totaled 268 billion VND.

Key Facts

• Foreign investors net bought DMX shares worth 173 billion VND on August 10, the highest among all HOSE-listed stocks.
• Proprietary traders net sold DMX shares worth 176 billion VND, the largest sell value on HOSE that day.
• The proprietary trading desk at HOSE reversed to a net buy of 313 billion VND, after four consecutive sessions of net selling.
• Foreign investors net sold 268 billion VND on HOSE, marking the third consecutive session of net selling.
• TCB was the top proprietary buy with 121 billion VND, followed by MWG with 100 billion VND.
• Foreign investors net sold TCB (359 billion VND) and VHM (248 billion VND) heavily.
• SHB saw foreign net buying of 69 billion VND, the second-highest after DMX.

What Happened

On August 10, 2026, the Ho Chi Minh Stock Exchange (HOSE) witnessed contrasting trading behaviors between foreign investors and proprietary traders. According to data from the exchange, proprietary traders (tự doanh) turned net buyers, purchasing 313 billion VND worth of stocks, reversing a four-session selling streak. The top buys were TCB (121 billion VND) and MWG (100 billion VND). In contrast, DMX was the most heavily sold by proprietary desks, with net sales of 176 billion VND.

Meanwhile, foreign investors continued their selling trend, net selling 268 billion VND on HOSE, the third consecutive session of net outflows. However, within this overall selling, foreign investors showed strong interest in DMX, net buying 173 billion VND, far exceeding the second-highest foreign buy, SHB, at 69 billion VND. The foreign selling was concentrated in TCB (359 billion VND) and VHM (248 billion VND). The data was reported by the securities firm’s trading desk and reflects daily transaction flows.

Market Context

DMX, listed on UPCOM, closed at 88,100 VND on August 10, 2026. The stock has been a focus of institutional activity, with foreign investors increasing their holdings while proprietary traders reduced theirs. On the broader HOSE, foreign net selling has persisted for three sessions, with TCB and VHM experiencing significant outflows. TCB closed at 31,350 VND, MWG at 73,000 VND, and VHM at 71,600 VND on the same day. The divergence in DMX flows suggests a potential shift in ownership structure, though the overall market sentiment remains cautious amid foreign selling pressure.

Strategic Significance

For long-term investors, the opposite flows in DMX highlight a potential disagreement between foreign institutional investors and domestic proprietary desks. Foreign buying could signal confidence in DMX’s fundamentals or a strategic accumulation, while proprietary selling might reflect short-term profit-taking or risk management. Given DMX’s retail sector exposure and its UPCOM listing, the stock may be attractive to foreign investors seeking exposure to Vietnam’s consumer market. However, the persistent foreign selling across HOSE, particularly in large caps like TCB and VHM, suggests broader market headwinds. Investors should monitor whether foreign buying in DMX continues, as it could indicate a longer-term positioning shift.

What to Watch

• Subsequent sessions’ foreign and proprietary flow data for DMX to see if the divergence persists.
• Any company announcements from DMX regarding business performance or shareholder changes.
• HOSE-wide foreign net selling trend; a reversal could signal improved market sentiment.
• TCB and VHM foreign selling momentum, as these large caps influence index movements.
• DMX price action around the 88,000 VND level, with potential support or resistance forming.