Proprietary Trading Net Sells VND 649B on HOSE; MBB, CTG, MWG Hit Hardest

Overview

Proprietary trading desks at securities companies net sold VND 649 billion (approximately USD 26 million) on the HOSE exchange on Monday, May 18. The selling was concentrated in banking and retail stocks, with MBB, CTG, and MWG seeing the largest outflows. STB was the most bought stock, attracting VND 56 billion in net purchases. The activity reflects profit-taking after an eight-week rally that pushed the VN-Index to near 1,930 points.

Key Facts

• Proprietary trading desks net sold VND 649 billion on HOSE on May 18.
• MBB saw the heaviest net selling at VND -146 billion.
• CTG followed with net selling of VND -105 billion.
• MWG recorded net selling of VND -87 billion.
• STB was the most bought stock, with net purchases of VND 56 billion.
• Other notable net sells: HPG (-52 billion), TCB (-49 billion), VCB (-42 billion), EIB (-36 billion), VCG (-32 billion).
• The VN-Index rose 6.34 points (+0.33%) to close at 1,927.94 on the same day.

What Happened

According to exchange data, proprietary trading desks at securities companies (CTCK) executed a net sell order of VND 649 billion on the HOSE exchange during Monday’s session. The selling was broad-based, with the top five net sold stocks being MBB (VND -146 billion), CTG (VND -105 billion), MWG (VND -87 billion), HPG (VND -52 billion), and TCB (VND -49 billion). Other significant net sells included VCB, EIB, VCG, ACB, and RYG.

On the buying side, STB was the standout, attracting net purchases of VND 56 billion. Other stocks with notable net buying included FPT and POW (each VND 15 billion), FUEVFVND (VND 12 billion), VPX and VGC (each VND 11 billion), E1VFVN30 (VND 5 billion), VIC (VND 4 billion), FRT (VND 3 billion), and HDG (VND 2 billion). The data reflects a cautious stance by proprietary desks, which often act as a proxy for institutional sentiment.

Market Context

The net selling occurred as the VN-Index rose 0.33% to 1,927.94, extending its eight-week winning streak. However, the selling pressure from proprietary desks suggests profit-taking at elevated levels. Among the most sold stocks, MBB closed at VND 25,500 (-0.58%), CTG at VND 36,300 (+1.40%), and MWG at VND 79,000 (-3.66%), indicating mixed price reactions. The banking sector, which has been a key driver of the rally, saw significant outflows, particularly in MBB and CTG. STB, which was the top buy, closed at an undisclosed price but benefited from net buying support.

Strategic Significance

The net selling by proprietary desks highlights a tactical shift toward risk reduction after a sustained market rally. The concentration of selling in banking stocks (MBB, CTG, TCB, VCB, EIB) suggests that these desks view the sector as overbought in the near term. Conversely, the buying in STB, FPT, and POW may indicate selective value-seeking. For long-term investors, the activity underscores the importance of monitoring institutional flows as a contrarian indicator. The eight-week rally has pushed valuations higher, and profit-taking by sophisticated players could signal a short-term consolidation phase.

What to Watch

• Whether proprietary selling continues in subsequent sessions, particularly in banking stocks.
• The price action of STB, FPT, and POW to see if buying support sustains.
• Upcoming foreign flow data to gauge whether international investors follow the same pattern.
• Q2 2026 earnings reports for MBB, CTG, and MWG to assess fundamental justification for recent price moves.
• VN-Index support levels around 1,900 and resistance at 1,950 for technical confirmation.