Foreign Investors Net Sell VND 2,000B on Vietnam Stock Market, HPG Leads Sell-Off

Overview

Foreign investors net sold approximately VND 2,000 billion (USD 80 million) on the Vietnamese stock market on May 25, 2026, with matched-order net selling of VND 442.6 billion. The selling pressure was concentrated in Basic Resources, with HPG, ACB, and FPT among the top sold, while Food & Beverage and Banking saw net buying. Despite the foreign outflow, the VN-Index rose nearly 9 points to 1,886.03, supported by large-cap stocks and low overall liquidity of VND 18,400 billion.

Key Facts

• Foreign investors net sold approximately VND 2,000 billion (USD 80 million) on the Vietnamese stock market on May 25.
• Matched-order net selling by foreign investors was VND 442.6 billion.
• Top net sold stocks by matched orders: HPG, ACB, FPT, KDH, VND, SSI, PVD, PLX, VNM.
• Top net bought stocks by matched orders: MSN, HDB, VIC, VCB, VHM, LPB, VPI, SHB, MWG, BSR.
• Overall matched-order liquidity on three exchanges was VND 18,400 billion, a low level.
• VN-Index closed at 1,886.03, up nearly 9 points, with 174 decliners vs 129 advancers.
• Individual investors net bought VND 132.2 billion overall but net sold VND 160.4 billion in matched orders.

What Happened

On May 25, 2026, foreign investors continued to exert selling pressure on the Vietnamese stock market, with net selling of approximately VND 2,000 billion (USD 80 million) according to exchange data. Matched-order net selling was VND 442.6 billion, with the Basic Resources sector bearing the brunt. HPG, ACB, FPT, KDH, VND, SSI, PVD, PLX, and VNM were the top net sold stocks. In contrast, foreign investors net bought stocks in Food & Beverage and Banking, including MSN, HDB, VIC, VCB, VHM, LPB, VPI, SHB, MWG, and BSR.

Despite the foreign selling, the VN-Index rose nearly 9 points to 1,886.03, driven by large-cap stocks, particularly the Vingroup group (VIC, VHM, VPL). Market breadth was negative with 174 decliners versus 129 advancers, but liquidity was low at VND 18,400 billion, suggesting accumulation rather than distribution. Individual investors net bought VND 132.2 billion overall but were net sellers in matched orders by VND 160.4 billion, focusing on Basic Resources stocks like STB, HPG, VHM, and VIC.

Market Context

HPG, listed on HOSE, closed at VND 24,100 on May 25, up 0.63% with volume of 26.99 million shares. The stock was the top net sold by foreign investors in matched orders, reflecting persistent foreign selling pressure on the steel sector. ACB (VND 23,550, +3.06%) and FPT (VND 73,500, -2.13%) also featured prominently on the sell list. The broader market saw low liquidity of VND 18,400 billion, indicating cautious sentiment. The VN-Index’s gain was largely due to large-cap stocks like VHM (+3.19%) and VIC (+1.06%), while energy and technology stocks declined.

Strategic Significance

The persistent foreign net selling, particularly in Basic Resources and high-beta names like HPG, ACB, and FPT, signals ongoing risk-off positioning by international investors amid global uncertainty. However, the market’s resilience, with the VN-Index rising on low liquidity, suggests domestic retail and institutional investors are absorbing supply selectively. The divergence between foreign selling and domestic buying in Basic Resources (individuals net bought HPG) may indicate a tactical rotation. Long-term investors should monitor whether foreign selling intensifies or stabilizes, as it could affect liquidity and valuation multiples for heavily sold stocks.

What to Watch

• Foreign net selling volumes in the coming sessions, especially for HPG, ACB, and FPT.
• VN-Index’s ability to hold above the 1,880 level amid continued foreign pressure.
• Any regulatory or macro announcements that could shift foreign investor sentiment.
• Q2 2026 earnings reports for HPG and other heavily sold stocks, due in July.
• Changes in the USD/VND exchange rate and global commodity prices affecting steel and energy sectors.