MSN leads proprietary trading buys on HoSE as foreign investors sell VND 3.65 trillion

Overview

On April 15, securities company proprietary trading desks were net buyers of VND 60 billion on the HoSE, with Masan Group (MSN) receiving the largest net purchase of VND 38 billion. In contrast, foreign investors were net sellers of approximately VND 3,651 billion, continuing a trend of foreign divestment from Vietnamese equities.

Key Facts

• Proprietary trading desks net bought VND 60 billion on HoSE on April 15.
• MSN was the top net buy at VND 38 billion, followed by VPB (VND 32 billion), VPX (VND 27 billion), KBC (VND 22 billion), and CDC (VND 20 billion).
• VIC was the top net sell by proprietary desks at -VND 60 billion, followed by VRE (-VND 23 billion), FPT (-VND 16 billion), VHM (-VND 13 billion), and LPB (-VND 11 billion).
• Foreign investors net sold approximately VND 3,651 billion on HoSE on the same day.
• VN-Index rose 25 points (+1.41%) to close at 1,800.65 points.
• MSN closed at VND 77, down 0.64%, with volume of 3.35 million shares.

What Happened

On April 15, the Vietnamese stock market continued its upward trend, with the VN-Index gaining 25 points to close at 1,800.65. However, foreign investor activity was a negative factor as they net sold approximately VND 3,651 billion on the HoSE. Meanwhile, securities company proprietary trading desks were net buyers of VND 60 billion, providing some support to the market.

According to exchange data, MSN was the most bought stock by proprietary desks, with net purchases of VND 38 billion. Other stocks with significant net buying included VPB (VND 32 billion), VPX (VND 27 billion), KBC (VND 22 billion), and CDC (VND 20 billion). On the sell side, VIC was the most sold, with net sales of -VND 60 billion, followed by VRE (-VND 23 billion), FPT (-VND 16 billion), VHM (-VND 13 billion), and LPB (-VND 11 billion).

Market Context

MSN, listed on HoSE, closed at VND 77 on April 15, down 0.64%, with volume of 3.35 million shares. The stock has been under pressure from foreign selling in recent sessions, but proprietary buying provided a counterbalance. The broader market saw strong gains, but foreign net selling of VND 3.65 trillion remains a headwind for liquidity and sentiment. Other stocks like VPB and KBC also saw proprietary buying, while VIC and VRE faced selling from the same desks.

Strategic Significance

The divergence between proprietary trading desks and foreign investors highlights the ongoing foreign outflow trend from Vietnamese equities, driven by global monetary tightening and risk-off sentiment. However, domestic institutional support through proprietary desks can provide short-term price support for select stocks like MSN, which is a consumer staples play with defensive characteristics. The ability of domestic liquidity to absorb foreign selling will be a key factor in market stability.

What to Watch

• Foreign net selling volumes in the coming sessions to see if the pace accelerates or stabilizes.
• MSN’s price action and volume to gauge whether proprietary buying can sustain support.
• VIC and VRE’s performance as they face selling from proprietary desks, which may indicate shifting institutional preferences.
• VN-Index’s ability to hold above 1,800 points amid foreign outflow.
• Any regulatory announcements or macro data that could influence foreign investor sentiment.