Proprietary Trading Desks Net Buy VND 207B on VN-Index Record Close; KDH Leads

Overview

On June 7, proprietary trading desks of Vietnamese securities companies net bought VND 207 billion on HOSE, capitalizing on the VN-Index’s record close above 1,900 points. Real estate stock KDH was the most bought, with VND 59 billion in net purchases, while foreign investors continued their net selling streak, offloading VND 311 billion. The divergence highlights contrasting strategies between domestic proprietary desks and foreign institutions.

Key Facts

• Proprietary trading desks net bought VND 207 billion on HOSE on June 7.
• The VN-Index closed at a record 1,909.01 points, up 17.81 points (+0.94%).
• KDH was the most bought stock by proprietary desks, with net purchases of VND 59 billion.
• Other top buys: HDB (VND 42 billion), VNM (VND 34 billion), VIC (VND 32 billion), VHM (VND 30 billion).
• Foreign investors net sold VND 311 billion on the entire market on the same day.
• Top sells by proprietary desks: STB (VND -29 billion), SSI (VND -19 billion), PLX (VND -14 billion).
• KDH closed at VND 27 on April 15, 2026, up 1.34% with volume of 7.7 million shares.

What Happened

According to the article, proprietary trading desks at securities companies took advantage of the market’s strong rally to accumulate stocks, net buying VND 207 billion on HOSE. The buying was concentrated in blue-chip names, with KDH receiving the largest net inflow of VND 59 billion. Other heavily bought stocks included HDB, VNM, VIC, and VHM. On the sell side, STB saw the largest net selling by proprietary desks at VND -29 billion, followed by SSI and PLX.

Meanwhile, foreign investors continued their net selling trend, offloading VND 311 billion across the market. This divergence suggests that domestic proprietary desks are more optimistic about the near-term outlook, while foreign investors may be taking profits or rebalancing.

Market Context

KDH, listed on HOSE, closed at VND 27 on April 15, 2026, up 1.34% with volume of 7.7 million shares. The stock has been volatile amid the broader real estate sector’s recovery. The VN-Index’s record close above 1,900 points reflects strong domestic liquidity and positive global cues, but foreign selling remains a headwind. Proprietary desks’ buying of KDH and other real estate stocks like VIC and VHM signals confidence in the sector’s fundamentals.

Strategic Significance

The aggressive buying by proprietary desks suggests that domestic securities firms see value in large-cap stocks, particularly real estate and banking, despite foreign outflows. KDH, as a leading residential developer in Ho Chi Minh City, benefits from strong housing demand and a recovering property market. The divergence between domestic and foreign flows may create opportunities for long-term investors if foreign selling abates. However, the sustainability of the rally depends on continued domestic buying and improved foreign sentiment.

What to Watch

• Foreign net flow data in the coming sessions to see if selling pressure eases.
• KDH’s upcoming quarterly earnings report for Q2 2026 to assess fundamental performance.
• VN-Index’s ability to hold above 1,900 points and volume trends.
• Any regulatory changes or policy announcements affecting the real estate sector.
• Proprietary desks’ net buying activity in subsequent weeks as a sentiment indicator.