MSB Leads Foreign Net Selling Surge of VND 5,118 Billion in Late May

Overview

Foreign investors intensified net selling in the last week of May, offloading a total of VND 5,118 billion across Vietnamese exchanges. MSB, the stock of Maritime Bank, was the most heavily sold, with net selling of VND 1,756 billion. The selling pressure contributed to a 0.73% decline in the VN Index, which closed at 1,863.49 points.

Key Facts

• Foreign investors net sold VND 5,118 billion across the market in the week of May 25-29.
• MSB was the most sold stock, with net selling of VND 1,756 billion.
• Other heavily sold stocks include HPG (VND 549 billion), VHM (VND 423 billion), VIC (VND 208 billion), and FPT (VND 200 billion).
• On HoSE, foreign net selling amounted to VND 5,048 billion; on HNX, VND 58 billion; and on UPCoM, VND 12 billion.
• The top net bought stocks were VCB (VND 164 billion), LPB (VND 113 billion), and MSN (VND 111 billion).
• VN Index fell 13.64 points (-0.73%) week-on-week to close at 1,863.49.

What Happened

According to data from the Ho Chi Minh Stock Exchange, foreign investors were net sellers for the week ending May 29, with total net selling of VND 5,118 billion. The selling pressure was broad-based, but MSB stood out with net selling of VND 1,756 billion, far exceeding other stocks. The bank’s stock closed the week at VND 15,300, up 1.32% on the last trading day, but the heavy foreign selling suggests ongoing divestment.

Other major stocks also saw significant foreign outflows: HPG lost VND 549 billion, VHM VND 423 billion, VIC VND 208 billion, and FPT VND 200 billion. On the buying side, VCB attracted VND 164 billion, followed by LPB (VND 113 billion) and MSN (VND 111 billion).

Market Context

MSB trades on HoSE and closed at VND 15,300 on May 29, up 1.32% for the day but still under pressure from foreign selling. The broader VN Index fell 0.73% for the week, reflecting persistent foreign outflow. The banking sector, which includes MSB, has been a focus of foreign selling in recent weeks, with other banks like CTG and TCB also seeing net selling. The overall market sentiment remains cautious amid global uncertainties and domestic policy adjustments.

Strategic Significance

The sustained foreign selling in MSB and other large-cap stocks signals a continued risk-off stance by international investors toward Vietnamese equities. For MSB, the heavy selling may reflect concerns about the bank’s exposure to certain sectors or broader macroeconomic headwinds. However, the bank’s fundamentals, including its position as a mid-sized commercial bank, remain intact. The divergence between foreign selling and domestic buying (as seen in VCB and LPB) suggests that local investors are stepping in, potentially providing support. Long-term investors should monitor whether this foreign outflow is a temporary adjustment or part of a longer-term trend.

What to Watch

• MSB’s upcoming quarterly earnings report for Q2 2026 to assess fundamental impact.
• Further foreign flow data in subsequent weeks to see if selling pressure abates.
• Any regulatory changes or policy announcements from the State Bank of Vietnam affecting banking stocks.
• MSB’s stock price reaction around key support levels, especially VND 15,000.
• Broader market sentiment and VN Index movement, particularly if it breaks below 1,850.