Foreign investors net sell VND 500B as VN-Index plunges; HDB, VRE, VPB bought

Overview

Foreign investors net sold nearly VND 500 billion across Vietnamese exchanges on September 7, 2026, as the VN-Index dropped 31 points to close at 1,822. On HoSE, net selling reached VND 459 billion, with VCB, CTG, and VIC hit hardest, while HDB led the buy side with VND 54 billion in net purchases.

Key Facts

• VN-Index fell 31 points to 1,822, closing at the day’s low; HoSE matched volume was about VND 13,600 billion.
• Foreign net selling on HoSE totaled VND 459 billion; combined with HNX and UPCoM, the net outflow was nearly VND 500 billion.
• HDB was the top foreign-bought stock on HoSE with net purchases of VND 54 billion.
• VRE and VPB followed with net buys of VND 43 billion and VND 34 billion, respectively.
• VCB saw the largest net sell-off at VND 92 billion, followed by CTG (VND 74 billion) and VIC (VND 53 billion).
• On HNX, foreign investors net sold over VND 4 billion, led by IDC (VND 8 billion) and CEO (VND 5 billion).
• On UPCoM, foreign investors net bought nearly VND 15 billion, with MSR receiving VND 13 billion.

What Happened

Vietnamese equities opened the week in negative territory, with selling pressure intensifying into the close. The VN-Index settled at its intraday low of 1,822, down more than 31 points from the prior session. Trading liquidity remained subdued, with HoSE matched value at approximately VND 13,600 billion.

Foreign investor activity was a notable drag. According to exchange data, foreign net selling on HoSE reached VND 469 billion, while HNX saw net selling of over VND 4 billion. On UPCoM, however, foreign investors were net buyers of nearly VND 15 billion. The combined net outflow across the three exchanges was close to VND 500 billion.

On the buy side, HDB led HoSE with net purchases of VND 54 billion, followed by VRE (VND 43 billion) and VPB (VND 34 billion). VHM, NLG, and HCM also saw net buying. Conversely, VCB experienced the largest net sell-off at VND 92 billion, with CTG and VIC also facing significant outflows of VND 74 billion and VND 53 billion, respectively.

Market Context

HDB closed at VND 27,350 on September 7, 2026, on the HOSE. The stock has been a consistent recipient of foreign inflows amid a broader market sell-off, reflecting investor preference for banks with strong retail exposure and digital banking momentum. VRE and VPB, also on HoSE, closed at VND 27,000 and VND 27,300, respectively, and similarly attracted foreign buying. In contrast, large-cap state-owned banks like VCB and CTG, along with conglomerate VIC, saw the heaviest foreign selling, consistent with a risk-off tilt toward smaller, higher-growth names.

Strategic Significance

For HDB, sustained foreign buying signals confidence in its earnings trajectory and asset quality, even as the VN-Index faces volatility. The bank’s focus on retail and SME lending, coupled with its digital transformation, positions it to benefit from Vietnam’s credit growth. The divergence in foreign flows—favoring HDB, VRE, and VPB over VCB and CTG—may indicate a shift toward private banks with higher return-on-equity potential. For long-term investors, this trend underscores the importance of stock-specific fundamentals over index-level sentiment.

What to Watch

• HDB’s next monthly business update, typically released in early October, for loan growth and non-performing loan trends.
• Foreign ownership levels in HDB, which remain below the 30% cap, and any changes in the registered foreign ownership limit.
• Q3 2026 earnings reports from VCB, CTG, and VIC to assess whether the sell-off reflects fundamental concerns or profit-taking.
• VN-Index movement around the 1,800–1,850 support zone, as a break below could intensify foreign outflows.
• SBV policy signals on interest rates or credit growth, which could affect banking sector sentiment.