Proprietary Desks Net Buy VND 312B on HOSE, FPT Leads; Foreigners Sell VND 1.28T

Overview

On April 29, proprietary trading desks of securities companies net bought VND 312 billion on HOSE, with FPT leading at VND 204 billion. Foreign investors net sold VND 1,278 billion, while the VN-Index fell 21.74 points (-1.16%) to 1,854.10. The session coincided with the completion of Q2 2026 rebalancing for ETFs tracking the VNDiamond, VN30, and VNFinlead indices.

Key Facts

• Proprietary trading desks net bought VND 312 billion on HOSE on April 29.
• FPT was the top net buy, with VND 204 billion in net purchases.
• Other net buys: HPG (VND 38 billion), AAA (VND 32 billion), KBC (VND 19 billion), VJC (VND 16 billion), SSI (VND 16 billion), VNM (VND 14 billion), VPB (VND 10 billion), MBB (VND 10 billion), VHM (VND 7 billion).
• Top net sells by proprietary desks: MWG (-VND 55 billion), VIC (-VND 20 billion), TCB (-VND 12 billion), VRE and SHB (each -VND 10 billion), GVR (-VND 8 billion).
• Foreign investors net sold VND 1,278 billion on HOSE on the same day.
• VN-Index closed at 1,854.10, down 21.74 points (-1.16%).
• The session marked the completion of Q2 2026 ETF rebalancing for VNDiamond, VN30, and VNFinlead indices.

What Happened

On April 29, the Vietnamese stock market faced a corrective session after a previous day of gains with strong divergence. The VN-Index fell 21.74 points (-1.16%) to close at 1,854.10. The day also saw the completion of the Q2 2026 rebalancing for ETFs tracking the VNDiamond, VN30, and VNFinlead indices, which likely contributed to trading activity.

Proprietary trading desks of securities companies were net buyers of VND 312 billion on HOSE. The strongest net buying was in FPT, with VND 204 billion, followed by HPG (VND 38 billion), AAA (VND 32 billion), KBC (VND 19 billion), VJC (VND 16 billion), SSI (VND 16 billion), VNM (VND 14 billion), VPB (VND 10 billion), MBB (VND 10 billion), and VHM (VND 7 billion). On the sell side, the largest net sales were in MWG (-VND 55 billion), VIC (-VND 20 billion), TCB (-VND 12 billion), VRE and SHB (each -VND 10 billion), and GVR (-VND 8 billion).

Foreign investors were net sellers of VND 1,278 billion on HOSE, continuing a trend of foreign outflow. The data is based on exchange-reported figures for the session.

Market Context

FPT (HOSE) closed at VND 75 on April 15, down 1.31% with volume of 9.5 million shares. The stock has been under pressure from foreign selling, but proprietary desks stepped in with significant buying. HPG (HOSE) closed at VND 28 on April 15, down 1.75% with volume of 27.5 million shares. KBC (HOSE) closed at VND 34 on April 10, up 0.15% with volume of 2.5 million shares. The VN-Index’s decline of 1.16% on April 29 reflects broad market weakness, with foreign selling and ETF rebalancing adding to volatility. The proprietary buying, particularly in FPT, suggests domestic institutional support for select large-caps.

Strategic Significance

The strong proprietary buying in FPT, amounting to VND 204 billion, signals domestic institutional confidence in the stock despite ongoing foreign net selling. FPT is a leading technology company in Vietnam, and its consistent growth in IT services and digital transformation makes it a core holding for many domestic funds. The net selling by foreigners, totaling VND 1,278 billion, indicates continued foreign portfolio adjustment, possibly due to global risk-off sentiment or ETF rebalancing. The divergence between proprietary and foreign flows highlights the role of domestic institutions in providing liquidity and support during periods of foreign outflow.

What to Watch

• Continued foreign net selling in subsequent sessions, especially in FPT and other large-caps.
• Q2 2026 earnings reports from FPT, HPG, and other heavily traded stocks.
• Any regulatory changes affecting foreign ownership limits or ETF composition.
• VN-Index support levels and whether proprietary buying persists as a stabilizing force.
• Updates on ETF rebalancing impacts and any follow-through from the April 29 session.