HPG Leads Foreign Net-Buy List as Foreigners Sell VND 430B on HOSE

Overview

Foreign investors net sold VND 429.9 billion on 29/10, or VND 531.3 billion on matched orders alone, as the VN-Index fell 0.62% to 1,755.61 points. Hòa Phát (HPG), listed on HOSE, was the top foreign net-buy on matched orders and one of the few large caps to gain, rising 2.17% and contributing about 0.79 points to the index.

Key Facts

• Foreign investors net sold VND 429.9 billion on 29/10; matched-order net selling was VND 531.3 billion.
• VN-Index closed at 1,755.61 points, down 11.04 points or 0.62%.
• Market breadth was negative: 215 decliners, 97 advancers and 56 unchanged.
• Total turnover across the three exchanges reached roughly VND 14,060 billion on more than 618 million shares; HOSE accounted for about VND 13,890 billion.
• HPG rose 2.17% and added roughly 0.79 points to the VN-Index; GVR gained 1.43%.
• Top foreign matched-order net buys: HPG, VPB, SHB, ACB, DCM, VND, GAS, VCB, BVH and MBB.
• Top foreign matched-order net sells: TCB, FPT, SSI, VHM, VPL, PVT, GMD, BSR and MSN.

What Happened

The session was broadly negative, with selling concentrated in real estate, energy and several large caps. VHM was the heaviest single drag, removing about 2.39 points, while BSR fell 3.83%, GAS lost 2.19% and MSN took 0.64 points off the index. FPT, VCB and VPB also weighed on the measure. Against that backdrop, materials stood out: HPG gained 2.17% and GVR rose 1.43%, making steel, rubber and electricity among the few sectors to close higher.

Foreign flows split sharply by sector. Matched-order buying was concentrated in basic resources and chemicals, with HPG, VPB, SHB, ACB, DCM, VND, GAS, VCB, BVH and MBB the largest net buys. Selling was concentrated in information technology and industrial goods and services, led by TCB, FPT, SSI, VHM, VPL, PVT, GMD, BSR and MSN. Proprietary trading desks net sold VND 282.0 billion, or VND 246.6 billion on matched orders. The article does not disclose the value of individual stock-level flows.

Market Context

HPG closed at VND 21,200 on 29/10 on HOSE. The stock’s gain came on a day when liquidity rose in steel, oil and gas, transport, securities, rubber, gas and personal goods, while most other sectors saw turnover decline. The divergence is notable: the index lost ground on real estate and energy weakness, yet foreign money rotated into materials and select banks, with VPB closing at VND 23,200, ACB at VND 21,300 and SHB at VND 10,700.

Strategic Significance

For long-term holders, the relevant signal is not the size of the market-wide outflow but its composition. Foreign investors used a down day to add steel and chemical exposure while cutting technology, securities and real estate, which suggests a rotation toward cyclical, domestically driven materials rather than a wholesale exit from Vietnamese equities. HPG’s role as the largest single net buy, combined with its positive price contribution, indicates that foreign demand for the steel cycle remains intact even as broader risk appetite weakens.

What to Watch

• Daily foreign matched-order flow data for HPG to confirm whether buying persists beyond a single session.
• Steel and construction-input demand indicators, including domestic prices and Chinese export trends.
• Whether VN-Index holds the 1,755-point area or breadth continues to deteriorate.
• Sector liquidity trends in steel versus real estate and energy.
• Any HPG disclosure on output, inventories or capex plans.