Proprietary Trading Desks Net Sell VND 995B on HOSE; NVL Leads Sell-Off

Overview

Proprietary trading desks of securities companies net sold VND 995 billion (approximately USD 40 million) on HOSE on June 3, 2026, with Novaland (NVL) being the most sold stock at VND 87 billion. The selling came as the VN-Index fell for a seventh consecutive session, closing at 1,819.01 points, down 0.41%. Foreign investors also net sold about VND 600 billion on the entire market.

Key Facts

• Proprietary trading desks net sold VND 995 billion on HOSE on June 3, 2026.
• NVL was the most sold stock, with net selling of VND 87 billion.
• HPG was the most bought stock, with net buying of VND 81 billion.
• Other heavily sold stocks include ACB (-VND 86 billion), SBT (-VND 44 billion), VCI (-VND 41 billion), CTG (-VND 34 billion), and TCB (-VND 32 billion).
• Top bought stocks after HPG: VCB (VND 68 billion), SHB (VND 28 billion), GMD (VND 24 billion), MBB (VND 22 billion).
• VN-Index fell 7.46 points (-0.41%) to 1,819.01, extending its losing streak to seven sessions.
• Foreign investors net sold approximately VND 600 billion across the entire market on the same day.

What Happened

On June 3, 2026, proprietary trading desks at securities companies executed a net sell order of VND 995 billion on the HOSE exchange, according to market data. The selling was broad-based, with NVL leading the sell-off at VND 87 billion, followed by ACB (VND 86 billion) and SBT (VND 44 billion). On the buying side, HPG attracted the most net buying at VND 81 billion, with VCB and SHB also seeing significant inflows.

The VN-Index continued its decline, closing at 1,819.01 points, down 0.41%, marking the seventh consecutive losing session. The index showed some recovery during the afternoon session as buying interest improved, but selling pressure persisted. Foreign investors also contributed to the negative sentiment, net selling about VND 600 billion across the market.

Market Context

NVL, listed on HOSE, closed at VND 13,600 on June 3, down 4.23% on high volume of 52.5 million shares. The stock has been under pressure amid ongoing challenges in the real estate sector. ACB, another heavily sold stock, closed at VND 26,000, up 3.59% on volume of 60.8 million shares, indicating that proprietary selling did not prevent a price gain. The broader market trend remains negative, with the VN-Index falling for seven straight sessions, reflecting cautious sentiment amid macroeconomic uncertainties.

Strategic Significance

The heavy proprietary selling in NVL suggests that securities companies are reducing exposure to the real estate developer, possibly due to concerns about its financial health or sector headwinds. Novaland has been navigating a difficult period with debt restructuring and project delays. The selling by proprietary desks, which are often seen as informed traders, could signal a lack of confidence in near-term recovery. Conversely, the buying in HPG and VCB indicates a preference for cyclical and banking stocks, which may be viewed as more resilient.

What to Watch

• NVL’s upcoming quarterly earnings report for Q2 2026, expected in July, to assess operational performance and debt levels.
• Any further proprietary or foreign selling in NVL and other real estate stocks, which could exacerbate price declines.
• The VN-Index’s ability to hold above the 1,800-point support level, as a break could trigger further selling.
• Policy announcements from the State Bank of Vietnam regarding credit growth or real estate sector support.
• Updates on Novaland’s debt restructuring progress and project resumption timelines.