Foreign Investors Net Buy VND 186.7B on HOSE, HPG Leads; Proprietary Traders Sell

Overview

On August 24, 2026, foreign investors net bought VND 186.7 billion on the HOSE, with HPG leading the buying list, alongside VIC, VPB, MSN, and HCM. In contrast, proprietary traders (tự doanh) net sold VND 197.9 billion. The VN-Index rose 20.66 points to near 1,789, driven primarily by VIC and VHM, which together contributed 18 points.

Key Facts

• Foreign net buying on HOSE: VND 186.7 billion; matched-order net buying: VND 177.9 billion.
• Top foreign matched-order buys: HPG, VIC, VPB, MSN, HCM, VIX, TCH, SSI, VNM, TCB.
• Top foreign matched-order sells: VCB, DCM, BVH, CTG, PLX, BID, GAS, LPB, POW.
• Proprietary traders net sold VND 197.9 billion; matched-order net selling: VND 164.5 billion.
• VN-Index closed up 20.66 points at ~1,789; 204 gainers vs 118 decliners.
• VIC rose 4.63%, VHM up 2.37%, together contributing 18 points to the index.
• HPG gained 2.53% on steel price outlook.
• Total matched volume on three exchanges: ~VND 21,000 billion.

What Happened

On August 24, 2026, the Vietnamese stock market extended its advance, with the VN-Index closing up 20.66 points to near 1,789. The rally was heavily concentrated in two large caps: Vingroup (VIC) and Vinhomes (VHM), which together accounted for 18 of the 20.66 points. Banks reversed lower, with CTG, TCB, MBB, LPB, and ACB falling, while securities stocks showed mixed performance. Real estate stocks rebounded late in the session on news of lower lending rates from major banks, with KDH, DXG, NVL, KBC, and TCH hitting limit-up.

Foreign investors were net buyers, with VND 186.7 billion in net buying on HOSE, focusing on food & beverage and financial services. HPG led the foreign buying list, followed by VIC, VPB, MSN, and HCM. On the selling side, foreign investors offloaded chemical stocks, with VCB, DCM, and BVH among the top sold. Proprietary traders, however, were net sellers, offloading VND 197.9 billion, with selling concentrated in financial services and basic resources.

Market Context

HPG (HOSE) closed at VND 22,250 on August 24, up 2.53% on the day, supported by expectations of rising steel prices. The stock has been a key beneficiary of foreign inflows, as it appeared on the top foreign buying list. The broader market’s advance was narrow, with VIC and VHM driving most of the index gain, reflecting anticipation of passive inflows from the FTSE review. Foreign net buying of VND 186.7 billion is modest compared to recent sessions, suggesting a slowdown in foreign enthusiasm. Proprietary traders’ net selling of VND 197.9 billion indicates profit-taking by domestic institutions.

Strategic Significance

For HPG, sustained foreign buying underscores its position as a core holding in Vietnamese equities, particularly given its strong fundamentals and exposure to the steel cycle. The market’s reliance on VIC and VHM highlights the importance of large-cap stocks in driving index performance, but also raises concerns about breadth. The FTSE rebalancing, expected to bring significant passive inflows, could further support these large caps. However, the divergence between foreign buying and proprietary selling suggests a cautious stance among domestic institutions, which may limit upside in the near term.

What to Watch

• FTSE Russell review announcement and expected passive inflows, particularly for VIC and VHM.
• Steel price trends and HPG’s Q3 earnings, which could confirm the steel price outlook.
• Foreign ownership limits and any changes in regulations affecting foreign flows.
• Proprietary trading activity in the coming sessions to see if selling persists.
• Market breadth: whether gains broaden beyond large caps or remain concentrated.