Foreign Investors Net Sell VND 1.3 Trillion on April 29, PC1 Hit Hardest

Overview

Foreign investors net sold nearly VND 1.3 trillion on April 29, the sixth consecutive session of net selling, with PC1 leading the sell-off at over VND 232 billion. VRE was the top net buy at VND 139 billion. For the full month of April, foreign net selling totaled over VND 13.4 trillion, narrowing from VND 17.4 trillion in March.

Key Facts

• Foreign investors net sold nearly VND 1.3 trillion on April 29.
• PC1 saw net selling of over VND 232 billion, the second-highest outflow.
• VIC was the most sold, with net selling exceeding VND 400 billion.
• VHM recorded net selling of VND 146 billion.
• VRE was the top net buy at VND 139 billion.
• PVS and DCM saw net buying of VND 53 billion and VND 48 billion, respectively.
• For April, total foreign net selling was over VND 13.4 trillion, with VHM leading at nearly VND 5.9 trillion.

What Happened

On April 29, the last trading session before the holiday, foreign investors intensified selling pressure, marking the sixth consecutive session of net outflows. PC1 experienced a sharp price decline, nearly hitting the daily limit, following three previous sessions of limit-down moves. Trading volume surged to nearly 42 million shares, significantly higher than the typical few million shares, indicating heavy supply and some bottom-fishing demand.

According to data from VietstockFinance, the top net buys were VRE (VND 139 billion), PVS (VND 53 billion), and DCM (VND 48 billion). On the sell side, VIC led with over VND 400 billion, followed by PC1 and VHM.

Market Context

PC1 (HOSE) closed at VND 27 on April 10, up 1.86% with volume of 5.4 million shares, but the stock has since fallen sharply. The broader market saw foreign selling concentrated in large-cap real estate and energy stocks. VIC (HOSE) closed at VND 177 on April 15, up 6.95%, while VHM (HOSE) closed at VND 138, up 6.83%. VRE (HOSE) closed at VND 28, up 1.79%.

Strategic Significance

The persistent foreign selling, especially in PC1, reflects ongoing risk-off sentiment among international investors toward Vietnamese equities, particularly in the construction and materials sector. PC1’s sharp decline and high volume suggest potential distress or forced selling, while the buying in VRE indicates selective interest in retail real estate. The monthly net selling of over VND 13.4 trillion, though lower than March, underscores continued foreign divestment.

What to Watch

• PC1’s upcoming quarterly earnings report and any corporate announcements regarding operations or debt.
• Further foreign flow data for early May to see if selling pressure persists.
• VRE’s retail sales performance and any news on its shopping mall occupancy rates.
• SBV policy changes or macroeconomic data that could influence foreign investor sentiment.
• Trading volume and price action in PC1 to gauge whether bottom-fishing demand stabilizes the stock.