LPB Draws VND 294B as Foreign Investors Net Sell VND 163B on October 5

Overview

On October 5, foreign investors net sold over VND 163 billion on the Ho Chi Minh Stock Exchange (HOSE), a sharp reduction from the prior session’s VND 2.2 trillion net outflow. LPBank (LPB) stood out by attracting nearly VND 294 billion in combined foreign and proprietary trading, while PNJ continued to face foreign selling pressure.

Key Facts

• Foreign investors net sold over VND 163 billion on October 5, down from more than VND 2.2 trillion on the previous session.
• LPB attracted nearly VND 294 billion from foreign investors and proprietary traders combined, with proprietary trading alone accounting for over VND 273 billion.
• PNJ recorded a foreign net outflow of nearly VND 90 billion, following a net sell of over VND 1.2 trillion on October 2.
• TCB saw the largest foreign net outflow of the day at approximately VND 147 billion.
• HPG led foreign net buying with nearly VND 64 billion, followed by DGW at over VND 57 billion and GMD at around VND 37 billion.
• Proprietary trading flipped to a net sell of about VND 30 billion on HOSE, with GMD seeing the largest net sell of over VND 181 billion.
• VNM and ACB were net sold by foreign investors for approximately VND 44 billion and VND 37 billion, respectively.

What Happened

Foreign investors continued to reduce exposure to Vietnamese equities on October 5, but the pace of selling slowed significantly. The net sell of VND 163 billion was a fraction of the VND 2.2 trillion recorded in the prior session, according to market data. PNJ remained a key target, with foreign investors withdrawing nearly VND 90 billion, extending the VND 1.2 trillion net sell from October 2. TCB faced the heaviest foreign selling among individual stocks, at around VND 147 billion, while VNM and ACB also saw net outflows of VND 44 billion and VND 37 billion, respectively.

On the buy side, HPG attracted nearly VND 64 billion in foreign net buying, followed by DGW with over VND 57 billion and GMD with approximately VND 37 billion. LPB received over VND 20 billion from foreign investors and became one of the few stocks to draw capital from both foreign and proprietary desks. Proprietary trading, meanwhile, flipped to a net sell of about VND 30 billion on HOSE, with flows heavily concentrated in LPB, which saw over VND 273 billion in proprietary buying, nearly three times that of VPB, the next highest. Including foreign buying, LPB attracted nearly VND 294 billion from these two major investor groups.

Market Context

LPB closed at VND 43,000 on October 5, with the stock listed on HOSE. The banking sector has been a focal point for foreign investors, and LPB’s ability to attract both foreign and proprietary capital contrasts with the broader net selling trend. PNJ, a retail jewelry chain, closed at VND 21,650 and has faced sustained foreign outflows, while TCB, another bank, closed at VND 32,500. The VN-Index has seen volatility in recent sessions, with foreign flows remaining a key driver of short-term performance.

Strategic Significance

LPB’s strong capital inflow on October 5 highlights its growing appeal to institutional investors, potentially due to its improving asset quality and digital transformation efforts. The bank’s ability to draw proprietary trading interest suggests confidence in its near-term earnings prospects. In contrast, continued foreign selling in PNJ may reflect concerns over consumer discretionary spending amid economic uncertainties. For long-term investors, the divergence between LPB and PNJ underscores the importance of sector-specific dynamics and balance sheet strength in navigating foreign flow trends.

What to Watch

• Upcoming Q3 earnings releases for LPB and PNJ, expected in late October, to confirm earnings trajectories.
• Foreign ownership room changes for LPB, as increased foreign interest could approach regulatory limits.
• SBV policy meetings for signals on interest rate adjustments affecting bank margins.
• Monthly foreign flow data for October to assess whether the selling trend in PNJ persists.
• Proprietary trading activity in LPB in subsequent sessions to gauge sustainability of the inflow.