Foreign Net Selling Returns on HOSE; Large Block Trade in FUEVFVND ETF

Overview

On April 21, foreign investors and proprietary trading desks returned to net selling on HOSE, with a net outflow of over 305 billion VND. The ETF certificate FUEVFVND (DCVFMVN DIAMOND) saw a notable large block trade: foreign investors bought nearly 294 billion VND while proprietary desks sold a similar amount. Other major net selling targets included FPT, VCB, and MSB.

Key Facts

• Foreign investors net sold over 305 billion VND on HOSE on April 21.
• Proprietary desks net sold nearly 10 billion VND, ending a four-day buying streak.
• FUEVFVND saw foreign net buying of nearly 294 billion VND (about 7.8 million certificates) while proprietary desks net sold over 295 billion VND of the same ETF.
• Top net sold stocks by foreign investors: FPT (nearly 144 billion VND), VCB (nearly 124 billion VND), MSB (nearly 108 billion VND).
• Top net bought stocks by proprietary desks: KBC (over 67 billion VND) and MWG (nearly 63 billion VND).
• Foreign investors also net bought HPG nearly 292 billion VND on the day of its annual general meeting.

What Happened

According to data from the Ho Chi Minh Stock Exchange (HOSE), both foreign investors and proprietary trading desks turned net sellers on April 21 after several sessions of net buying. Foreign investors recorded a net sell-off of over 305 billion VND, with the heaviest selling pressure on FPT, VCB, and MSB. Proprietary desks net sold nearly 10 billion VND, breaking a four-day net buying streak.

The most notable transaction involved the ETF certificate FUEVFVND (DCVFMVN DIAMOND). Foreign investors bought nearly 7.8 million units of FUEVFVND, equivalent to nearly 294 billion VND, while proprietary desks sold a similar amount (over 295 billion VND). This large block trade suggests a transfer of shares between the two investor groups.

Market Context

FUEVFVND closed at 37 on April 24, up 0.59% with low volume of 92,500 shares. The ETF has been a popular vehicle for foreign investors seeking exposure to Vietnamese blue chips. The large block trade on April 21 indicates continued foreign interest despite overall net selling. Meanwhile, FPT (close 75, -1.31%), VCB, and MSB were among the most sold stocks, reflecting profit-taking after recent gains. KBC (close 34, +0.15%) and MWG (close 81, -1.10%) were bought by proprietary desks, showing selective domestic demand.

Strategic Significance

The return of net selling by foreign investors on April 21, after a period of accumulation, suggests a cautious stance amid global uncertainties or profit-taking. However, the large foreign buying in FUEVFVND indicates that foreign capital is still flowing into Vietnam via ETF channels, possibly for long-term allocation. The divergence between foreign and proprietary trading in FUEVFVND highlights the role of ETFs in facilitating foreign portfolio flows. For investors, the continued foreign net selling in blue chips like FPT and VCB may weigh on those stocks in the near term, while the ETF flow provides a floor for the broader market.

What to Watch

• Subsequent foreign flow data for the rest of the week to confirm whether the selling trend continues.
• FUEVFVND’s net asset value and premium/discount to track ETF demand.
• Q1 2026 earnings reports for FPT, VCB, and MSB to assess fundamental support.
• HPG’s AGM outcomes and any strategic updates that may have driven foreign buying.
• Proprietary desk activity in KBC and MWG for signs of sustained domestic interest.