Foreign and Proprietary Traders Net Sell VND 1,684B on May 15; HPG, VHM, TCB, MWG, MBB Hit
This Aveluro analysis covers HPG (Tập đoàn Hoà Phát) in the Metals sector. The classified event type is foreign flow, with negative sentiment and a deterministic market-impact score of 3.5/10. Aveluro classifies this story as a negative catalyst and risk signal for the affected stock. Source coverage came from Vietstock - Cổ phiếu, classified as a primary/top-tier source.
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Overview
On May 15, foreign investors and proprietary trading desks both turned net sellers on the Vietnamese stock market, with combined net selling of approximately VND 1,684 billion. Foreign net selling totaled over VND 820 billion, concentrated in HPG and VHM, while proprietary desks net sold VND 864 billion, mainly in TCB, MWG, and MBB. The coordinated selling pressure weighed on market sentiment, particularly for large-cap stocks.
Key Facts
- Foreign investors net sold VND 820 billion on May 15, reversing the prior session’s net buying.
- HPG was the most sold foreign stock, with net selling of VND 234 billion.
- VHM saw foreign net selling of VND 137 billion.
- BSR was the top foreign net buy, rising nearly 80% in price.
- Proprietary trading desks net sold VND 864 billion, expanding their selling trend.
- TCB led proprietary net selling at VND 232 billion, followed by MWG (VND 183 billion) and MBB (VND 162 billion).
- HPG closed at VND 26,550, down 1.85%, with volume of 75.8 million shares.
What Happened
According to market data for the May 15 session, foreign investors returned to net selling after a brief net buying session, offloading over VND 820 billion. The selling was concentrated in steelmaker HPG (VND 234 billion) and real estate giant VHM (VND 137 billion). On the buying side, BSR saw strong foreign inflows and its share price surged nearly 80%.
Proprietary trading desks also intensified their net selling, with total value reaching VND 864 billion, a notable increase from prior sessions. The largest net sales were in bank TCB (VND 232 billion), retailer MWG (VND 183 billion), and bank MBB (VND 162 billion). The data reflects a broad-based reduction in institutional exposure across multiple sectors.
Market Context
HPG closed at VND 26,550 on May 15, down 1.85% on heavy volume of 75.8 million shares, underperforming the broader market. MWG fell 2.61% to VND 82,000, while TCB edged up 0.15% to VND 34,050 and VHM rose 0.64% to VND 158,000. The net selling by both foreign and proprietary traders adds to recent volatility, particularly for HPG, which has been a frequent target of foreign flows. All affected tickers trade on HOSE.
Strategic Significance
The simultaneous net selling by foreign investors and proprietary desks signals a cautious institutional stance amid uncertain market conditions. For HPG, persistent foreign selling may reflect concerns about steel demand or sector headwinds. The heavy proprietary selling in TCB, MWG, and MBB suggests profit-taking or portfolio rebalancing by domestic institutions. This trend could pressure valuations in the near term, especially for stocks with high foreign ownership limits or those heavily traded by proprietary desks.
What to Watch
- Foreign flow data for the next several sessions to see if net selling persists or reverses.
- HPG’s upcoming earnings release and any commentary on steel export orders.
- Proprietary trading desk activity, particularly in TCB, MWG, and MBB.
- Market-wide liquidity and VN-Index performance as institutional sentiment shifts.
- Any regulatory changes or macro data that could alter foreign investor appetite.