EIB Leads Proprietary Desk Net Selling on HOSE as Brokers Offload VND 225B

Overview

Securities firms’ proprietary trading desks net sold VND 225 billion on HOSE in the Monday session, with Eximbank (EIB) alone accounting for VND 193 billion of the outflow. The selling came as the VN-Index fell 10.60 points (-0.60%) to 1,763.55, and it places EIB at the centre of a broker-driven de-risking move in the banking sector.

Key Facts

• Proprietary desks net sold VND 225 billion across HOSE on Monday 26/10.
• EIB recorded the largest net sale at VND -193 billion, followed by VCB at VND -41 billion.
• GEX (-VND 25 billion), MSN (-VND 23 billion) and MBB (-VND 22 billion) rounded out the top five net-sold names.
• RYG and GMD each saw VND -11 billion, MCH -VND 7 billion, DMX -VND 5 billion and CTG -VND 4 billion.
• TCB drew the largest net buying at VND 51 billion, ahead of VPB (VND 13 billion) and FRT (VND 8 billion).
• MWG and DBC each saw VND 6 billion of net buying; HDB and VIC each VND 5 billion; VNM, TPB and the E1VFVN30 ETF each VND 4 billion.
• The VN-Index opened at 1,780 points before closing at 1,763.55, with liquidity rising in the afternoon session.

What Happened

The session opened on a firm note, with the VN-Index touching 1,780 points, but demand thinned and the market gave up ground as liquidity built through the afternoon. The proprietary trading desks of securities companies finished the day as net sellers of VND 225 billion on HOSE, according to the market data cited in the report.

Eximbank (EIB) dominated that flow at VND -193 billion, a concentration that makes the bank stock the single clearest signal in the session. Selling was also visible in VCB (-VND 41 billion), GEX (-VND 25 billion), MSN (-VND 23 billion) and MBB (-VND 22 billion). On the buy side, TCB attracted VND 51 billion of net proprietary demand, with smaller purchases in VPB, FRT, MWG, DBC, HDB, VIC, VNM and TPB. The report does not break out whether the EIB selling reflected position trimming, hedging or portfolio rebalancing.

Market Context

EIB trades on HOSE and closed at 17,150 on 26/10, the session in which the proprietary outflow was recorded. The stock sits in the banking sector, which supplied several of the day’s most-sold names (EIB, VCB, MBB, CTG) even as TCB, VPB, HDB and TPB drew net buying, pointing to rotation within banks rather than a uniform sector exit. The broader market’s 0.60% decline and rising afternoon liquidity suggest distribution rather than a broad risk-off move.

Strategic Significance

Proprietary-desk flow is a short-horizon signal, but its concentration matters: VND 193 billion in EIB sales is large relative to the stock’s daily turnover and, if sustained, would pressure the price independently of fundamentals. For long-term holders, the relevant question is whether this reflects a view on Eximbank’s credit growth and asset-quality outlook or simply book management into year-end. The split between selling in EIB, VCB and MBB and buying in TCB and VPB implies brokers are differentiating on balance-sheet strength and earnings visibility within the banking sector rather than abandoning it.

What to Watch

• Daily proprietary-desk flow data to see whether EIB selling continues or reverses.
• Foreign-ownership and block-trade filings on EIB for signs of larger institutional repositioning.
• Third-quarter earnings releases from Eximbank and peer banks on credit growth and provisioning.
• VN-Index behaviour around the 1,760 support level and whether afternoon liquidity keeps rising.
• Any SBV policy signals on credit quotas that would affect bank-sector positioning.