Vietnam Securities Firms Turn Net Buyers After Record Selling Week

Overview

Proprietary trading desks at Vietnamese securities firms reversed to net buying of nearly VND 1,095 billion (about USD 43.8 million) during the week of August 10-14, 2026, according to data from HOSE. This follows a record net selling week and marks the highest weekly net buying since mid-June 2026. The buying was concentrated in the first half of the week, with MWG leading matched-order purchases.

Key Facts

• Net buying of VND 1,095 billion (USD 43.8 million) from August 10-14, 2026, the highest weekly level since June 15-19, 2026.
• The previous week (August 3-7) saw net selling of VND 2,187 billion.
• The strongest buying day was August 12, with net purchases of VND 1,158 billion.
• MWG led matched-order net buying with VND 196 billion, bought across all five sessions.
• TCB followed with VND 167 billion, mostly from a VND 121 billion purchase on August 10.
• NVL and SBT topped overall net buying with VND 260 billion and VND 229 billion, respectively, but nearly all came from block trades on August 12.
• DMX led net selling with VND 176 billion, entirely from a single block trade on August 10.

What Happened

Proprietary trading desks at securities firms, known as tự doanh, reversed their stance in the week of August 10-14, 2026, buying a net VND 1,095 billion worth of stocks, according to data from HOSE. This contrasts sharply with the previous week’s record net selling of VND 2,187 billion. The buying was front-loaded, with net purchases of VND 309 billion on August 10, VND 256 billion on August 11, and a surge to VND 1,158 billion on August 12, the largest daily net buying of the week. However, the desks turned net sellers in the last two sessions, with net sales of VND 189 billion on August 13 and VND 439 billion on August 14.

The VN-Index mirrored this pattern, rising 8.71 points on August 10, dipping slightly on August 11, then jumping 19.77 points on August 12 to close at 1,793.18, the week’s high. The index then fell 27.55 points on August 13 and 36.55 points on August 14, closing at 1,729.08. For the week, the index lost 38.98 points, or about 2.2%.

In terms of individual stocks, MWG saw the largest matched-order net buying at VND 196 billion, with purchases across all five sessions. TCB followed with VND 167 billion, mostly from a single session on August 10. CTG, HPG, MBB, and VPB also saw matched-order net buying exceeding VND 100 billion. NVL and SBT topped overall net buying with VND 260 billion and VND 229 billion, respectively, but these were almost entirely from block trades on August 12, with negligible matched-order activity. On the selling side, DMX led with VND 176 billion, all from a single block trade on August 10, following a VND 658 billion block trade on August 7. FPT was second with VND 148 billion in net selling, but its matched-order flow was actually positive at VND 14.9 billion, with the negative figure driven by a VND 155 billion block trade on August 14.

Market Context

The reversal in proprietary trading comes amid a volatile week for the VN-Index, which fell 2.2% overall. The buying was timed with the market’s rise in the first half of the week, while selling resumed as the index declined sharply in the last two sessions. MWG, listed on HOSE, closed at VND 72, down 1.63% on August 14, with volume of 3.16 million shares. TCB closed at VND 32, up 0.95%, while CTG fell 2.18% to VND 31. HPG closed at VND 21,250. The proprietary desks’ activity suggests a short-term sentiment shift, but the late-week selling indicates caution amid broader market weakness.

Strategic Significance

For long-term investors, the proprietary trading desks’ behavior offers a gauge of short-term market sentiment. The shift to net buying after a record selling week, particularly in large-cap names like MWG and TCB, may signal a stabilization in institutional sentiment. However, the concentration of buying in the first half of the week and the subsequent selling suggest that the desks are trading tactically rather than building long-term positions. The dominance of block trades in NVL, SBT, and DMX highlights the importance of distinguishing between matched-order and block-trade flows when assessing market direction. Investors should monitor whether this buying momentum persists or if it was a one-off rebound.

What to Watch

• Weekly proprietary trading flow data from HOSE for the week of August 17-21, 2026, to see if net buying continues.
• MWG’s trading volume and price action in the coming sessions, as it led matched-order buying.
• Any further block trades in DMX, which has seen consecutive large block sales.
• The VN-Index’s ability to hold above the 1,700 level, as it closed at 1,729.08 on August 14.
• Q2 earnings reports from affected tickers, which may influence institutional positioning.