LPB Block Trade Drives Proprietary Buying as Foreigners Net Sell VND 1.5T on HOSE

Overview

On June 19, foreign investors net sold over VND 1,486 billion on HOSE, continuing their recent selling streak, with VHM and FPT accounting for the bulk of outflows. Meanwhile, proprietary trading desks at securities companies unexpectedly net bought nearly VND 449 billion, driven by a large block trade in LPB (Lien Viet Post Joint Stock Commercial Bank) worth nearly VND 800 billion. The contrasting flows underscore divergent institutional sentiment toward Vietnamese equities.

Key Facts

• Foreign investors net sold VND 1,486 billion on HOSE on June 19, with total buying of VND 2,382 billion and selling of VND 3,868 billion.
• VHM was the most sold by foreign investors, with net selling of nearly VND 710 billion.
• FPT followed with net foreign selling of nearly VND 482 billion.
• Other banks STB, TCB, and VPB also saw notable foreign net selling.
• Proprietary trading desks net bought nearly VND 449 billion, reversing a recent trend.
• The main driver was a block trade in LPB, where proprietary desks net bought nearly VND 786 billion (18.18 million shares at an average price of VND 44,000/share, near the day’s floor price).
• HPG and MWG were the most sold by proprietary desks, with net selling of over VND 88 billion and nearly VND 68 billion, respectively.
• LPB shares closed at VND 48,000, up 2.02% on volume of 1.56 million shares.

What Happened

According to data from HOSE, foreign investors extended their net selling streak on June 19, with total net selling reaching over VND 1,486 billion. The selling was concentrated in real estate giant VHM (Vinhomes) and technology leader FPT, which together accounted for nearly VND 1.2 trillion of net outflows. Banking stocks STB, TCB, and VPB also faced significant foreign selling.

In contrast, proprietary trading desks at securities companies turned net buyers, with total net buying of nearly VND 449 billion. The shift was largely attributable to a single large block trade in LPB, where proprietary desks executed a purchase of 18.18 million shares worth nearly VND 800 billion at an average price of VND 44,000 per share, close to the day’s floor price. This trade alone accounted for the bulk of proprietary net buying. On the sell side, proprietary desks net sold HPG (Hoa Phat Group) and MWG (Mobile World Group) for over VND 88 billion and nearly VND 68 billion, respectively.

Market Context

LPB shares closed at VND 48,000 on June 19, up 2.02% on relatively low volume of 1.56 million shares, suggesting the block trade occurred off-exchange. The stock trades on HOSE and has been in focus amid the bank’s expansion plans. The broader market saw foreign selling pressure persist, with VHM and FPT among the most heavily sold. VHM closed at VND 145,300 (+0.62%) and FPT at VND 71,500 (-0.14%). The proprietary buying in LPB stands out as a counterpoint to the foreign outflow trend.

Strategic Significance

The large proprietary block trade in LPB signals strong institutional interest in the bank, possibly related to its strategic positioning or upcoming corporate actions. The trade was executed near the floor price, indicating a potential negotiated deal. For long-term investors, this suggests that domestic institutional investors see value in LPB despite the broader foreign selling. The continued foreign net selling, particularly in VHM and FPT, may reflect global portfolio adjustments or profit-taking after recent rallies.

What to Watch

• LPB’s upcoming quarterly earnings and any announcements regarding capital raising or dividend plans.
• Further proprietary trading activity in LPB, especially if additional block trades occur.
• Foreign net selling trends in VHM and FPT, and whether they extend into subsequent sessions.
• HOSE’s overall foreign ownership data for LPB, as the block trade may affect the foreign room.
• Market-wide foreign flow data for the remainder of June, as quarter-end positioning may influence flows.