HPG Draws VND 128B Foreign Buy as Market Net Selling Hits VND 615B

Overview

Foreign investors extended their net-selling streak on October 12, offloading roughly VND 615 billion of Vietnamese equities across all boards, with HOSE alone accounting for VND 583 billion of that total. Against that backdrop, HPG (Hòa Phát Group, HOSE) was the most heavily accumulated bluechip, drawing more than VND 128 billion in net foreign buying. The divergence matters because it shows foreign money rotating into steel and select cyclicals even as the broader market remains under distribution pressure.

Key Facts

• Market-wide foreign net selling on October 12 reached approximately VND 615 billion.
• HOSE foreign net selling totaled VND 583 billion; HNX saw VND 36 billion net sold; UPCOM recorded VND 4 billion net bought.
• HPG led foreign net buying on HOSE at over VND 128 billion.
• HDB and NVL followed on the buy side with VND 31 billion and VND 18 billion respectively.
• TCB topped the net-sell list at VND 115 billion, followed by PNJ at VND 105 billion and FPT at VND 91 billion.
• On HNX, MST and VFS each drew VND 1.2 billion in net buying, while CEO was sold for VND 18 billion and PVS for VND 10 billion.
• VN-Index closed down 14 points at 1,720, with HoSE turnover near VND 13,000 billion.

What Happened

Trading data compiled from the October 12 session showed foreign investors remaining net sellers for the day, with the aggregate VND 615 billion outflow split unevenly across Vietnam’s three exchanges. On HOSE, the VND 583 billion net-sell figure was offset in part by concentrated buying in a handful of large-cap names. HPG attracted more than VND 128 billion in net foreign purchases, the single largest bluechip inflow of the session, followed by HDB at VND 31 billion and NVL at VND 18 billion.

The sell side was led by TCB at VND 115 billion, with PNJ close behind at VND 105 billion and FPT at VND 91 billion. On HNX, foreign investors net sold VND 36 billion, with CEO absorbing VND 18 billion of selling and PVS VND 10 billion, while MST and VFS each saw VND 1.2 billion of net buying. UPCOM recorded a modest VND 4 billion net buy, led by DRI at VND 4 billion, partially offset by VND 2 billion of net selling in VGT. The session’s figures are drawn from daily exchange trading statistics as reported by market data providers.

Market Context

HPG closed at VND 20,700 on October 12 on HOSE, with the stock’s foreign bid standing out against a VN-Index that fell 14 points to 1,720 on HoSE turnover of roughly VND 13,000 billion. The steel maker sits in the Basic Resources sector, a cyclical group whose earnings are tied to construction demand, Chinese steel spreads and domestic infrastructure spending. HDB closed at VND 22,600, NVL at VND 11,150 and TCB at VND 32,600, with TCB’s VND 115 billion outflow marking it as the session’s clearest foreign distribution target among banks.

Strategic Significance

For long-term investors, the October 12 flow split suggests foreign money is not abandoning Vietnam wholesale but is instead reweighting toward steel and select financials with clearer cyclical recovery paths. HPG’s VND 128 billion inflow, against a market-wide VND 615 billion outflow, implies the stock is being treated as a relative safe haven within the large-cap complex, potentially tied to expectations around infrastructure disbursement and a recovery in construction steel demand. Conversely, sustained foreign selling in TCB, PNJ and FPT points to profit-taking in names that have already re-rated, and to a preference for value over momentum within the foreign portfolio.

What to Watch

• Daily foreign net-flow data for HPG to confirm whether the VND 128 billion buy is a one-off or the start of a trend.
• Whether TCB, PNJ and FPT continue to see foreign outflows over the following sessions.
• VN-Index behavior around the 1,720 level and whether HoSE turnover holds near VND 13,000 billion.
• Domestic steel price and construction demand data points relevant to HPG’s earnings outlook.
• Any foreign-ownership room or block-trade filings in the affected tickers.