Foreign Investors Turn Net Sellers on HOSE, Offload 446.2B VND

Overview

Foreign investors turned net sellers on the Ho Chi Minh Stock Exchange (HOSE), offloading 446.2 billion VND (~17.85 million USD) in matched orders on the first trading day of the week. The sell-off was concentrated in real estate stocks, while banking and food & beverage names saw net buying. This reversal comes as the VN-Index posted a modest gain, supported by expectations of state-owned enterprise restructuring and signs that interest rates may have peaked.

Key Facts

• Foreign investors net sold 446.2 billion VND (~17.85 million USD) in matched orders on HOSE.
• Real estate was the most heavily sold sector, with TCB, VHM, FPT, MSN, VPB, VIC, VCI, and HDB among the top net sold tickers.
• Top net bought tickers included SHB, VNM, MBB, SSI, CTG, GAS, GMD, VPI, SAB, and DPM.
• The VN-Index rose 8.71 points, with 245 gainers versus 88 decliners.
• Total matched order liquidity across all three exchanges was nearly 19,000 billion VND.
• VIC fell 3.02%, VHM dropped 1.92%, and VPL declined 0.63%, together shaving more than 13 points off the VN-Index.
• Proprietary trading desks (tự doanh) net bought 490.2 billion VND in matched orders.

What Happened

According to the article, foreign investors reversed their previous buying stance and became net sellers, offloading 446.2 billion VND in matched orders. The selling pressure was most pronounced in the real estate sector, with major names like VIC, VHM, and TCB seeing significant outflows. In contrast, foreign investors were net buyers in the food & beverage and utilities sectors, with SHB, VNM, MBB, and SSI among the top purchased stocks.

The market overall continued its recovery, with the VN-Index gaining 8.71 points. The advance was led by banking stocks, particularly TCB (up 5.56%) and VPB (up 3.4%), as well as state-owned banks VCB, BID, and CTG, which rose an average of 1%. Securities stocks also rallied, with SSI, VND, VIX, and VCI gaining over 1% on average. However, the Vingroup family of stocks (VIC, VHM, VPL) acted as a drag, collectively subtracting more than 13 points from the index.

Market Context

SHB (HOSE) closed at 12,000 VND on August 10, 2026, with foreign investors among the top net buyers on that day. The banking sector has been a key driver of the recent market uptrend, supported by expectations of policy easing and state capital restructuring. However, the return of foreign net selling, particularly in real estate, suggests that the rebound may face headwinds. The VN-Index’s advance was broad-based but lacked strong volume confirmation, with liquidity around 19,000 billion VND, which is moderate rather than explosive.

Strategic Significance

The foreign net selling trend, especially in real estate, could signal caution among international investors regarding the sector’s near-term outlook. The concentration of buying in banking and food & beverage suggests a defensive rotation. For SHB, being a top foreign buy indicates continued interest in the banking sector’s fundamentals, possibly driven by expectations of margin recovery and economic growth. However, the overall foreign flow reversal may limit upside for the broader market, making stock selection crucial. Investors should monitor whether this selling pressure persists or is a one-off adjustment.

What to Watch

• Follow-up foreign flow data over the next few sessions to see if net selling continues or reverses.
• Q2 earnings reports from SHB and other banks, due in the coming weeks, for confirmation of profitability trends.
• Any policy announcements related to state-owned enterprise restructuring, which could affect market sentiment.
• Interest rate movements, as any uptick could dampen the banking sector’s rally.
• Liquidity levels on HOSE; a sustained increase would support the current recovery narrative.