MSB attracts proprietary buying, FPT sold heavily by foreign investors on June 18

Overview

On June 18, foreign investors net sold nearly VND 1.9 trillion on HOSE, the largest daily outflow since the start of June, even as the VN-Index rose over 24 points. FPT was the most sold stock, with net selling exceeding VND 500 billion. Meanwhile, proprietary trading desks at securities firms made a significant net purchase of MSB, buying VND 373 billion, which helped offset overall proprietary net selling on the exchange.

Key Facts

• Foreign investors net sold nearly VND 1.9 trillion on June 18, the highest daily amount since early June.
• FPT was the most sold stock by foreign investors, with net selling of over VND 500 billion.
• VHM and TCB followed with net foreign selling of VND 189 billion and VND 159 billion, respectively.
• VIC was the top net bought stock by foreign investors, but only VND 74 billion.
• Proprietary trading desks net bought MSB worth VND 373 billion, the largest proprietary purchase of the day.
• HPG was the most sold by proprietary desks, with net selling of VND 91 billion.
• Since the start of June, foreign investors have net sold over VND 11.5 trillion, with VIC leading outflows at over VND 2.7 trillion.

What Happened

According to data from the Ho Chi Minh Stock Exchange (HOSE), foreign investors continued their selling spree on June 18, with net selling reaching nearly VND 1.9 trillion. FPT was the primary target, with net selling of over VND 500 billion, more than double the next stock, VHM. Other heavily sold stocks included TCB, VCB, SHB, VPB, CTG, and VIB, indicating broad-based foreign selling in the banking sector.

On the buying side, VIC was the top net bought stock by foreign investors, but only VND 74 billion, followed by PVS and PC1. The cumulative foreign net selling since June 1 has exceeded VND 11.5 trillion.

In contrast, proprietary trading desks at securities firms showed a different pattern. They net bought MSB aggressively, with VND 373 billion, making it the most bought stock by proprietary desks. Other stocks net bought by proprietary desks included KBC and CTG, but with much smaller amounts. Overall, proprietary desks net sold only VND 58 billion on HOSE, thanks to the large MSB purchase.

Market Context

On June 18, MSB closed at VND 15,700, up 0.96%, with volume of nearly 12 million shares. The stock has been relatively stable, but the proprietary buying suggests institutional interest. FPT closed at VND 71,600, down 0.97%, despite heavy foreign selling, indicating domestic buying support. VHM surged 6.96% to VND 144,400, possibly due to other factors. The banking sector, including TCB, VCB, SHB, VPB, CTG, and VIB, faced foreign selling pressure, reflecting ongoing foreign rotation out of Vietnamese banks.

Strategic Significance

The divergence between foreign selling and proprietary buying highlights a tactical opportunity for domestic institutions. MSB’s strong proprietary buying may signal confidence in the bank’s fundamentals or upcoming catalysts. For FPT, persistent foreign selling despite limited price decline suggests that domestic investors are absorbing supply, which could stabilize the stock. The overall foreign outflow trend, if sustained, may pressure the market, but selective domestic buying can provide support for specific stocks.

What to Watch

• Continued foreign selling momentum in the coming sessions, especially in FPT and banking stocks.
• Any official announcements from MSB regarding business updates or dividend plans that could justify proprietary buying.
• The impact of foreign selling on VIC, which has been the most sold stock since June 1.
• Proprietary trading activity in MSB to see if the buying persists or reverses.
• Overall foreign net flow for the remainder of June, as cumulative outflows have already exceeded VND 11.5 trillion.