Foreign Net Sell 789B VND on HOSE July 3; TCB, MSN, VIC Hit Hardest

Overview

On July 3, foreign investors net sold 789 billion VND on HOSE, marking another session of significant capital outflow. The selling was concentrated in banking and consumer stocks, with TCB, MSN, and VIC bearing the brunt. In contrast, proprietary trading desks net bought 551 billion VND, with a notable accumulation of EIB shares worth 300 billion VND. This divergence underscores the ongoing tension between foreign selling and domestic institutional buying in the Vietnamese market.

Key Facts

• Foreign investors net sold 789 billion VND on HOSE on July 3.
• TCB saw the largest foreign net sell of 90 billion VND.
• MSN and VIC were net sold by foreigners for 71 billion VND and 64 billion VND, respectively.
• GEX, MBB, and VIB also faced foreign selling of 45 billion VND, 40 billion VND, and 36 billion VND.
• VCK was the top foreign buy with net purchases of 66 billion VND.
• Proprietary trading desks net bought 551 billion VND on HOSE, with EIB receiving a massive 300 billion VND in net purchases.
• VIC and VHM were also bought by proprietary desks for 34 billion VND and 26 billion VND, respectively.

What Happened

According to data from the HOSE trading session on July 3, foreign investors continued their net selling streak, offloading 789 billion VND worth of shares. The selling pressure was broad-based, with TCB leading the outflow at 90 billion VND, followed by MSN (71 billion VND) and VIC (64 billion VND). Other notable sells included GEX, MBB, and VIB. On the buy side, VCK attracted the most foreign capital with net purchases of 66 billion VND, while VND, MCH, and FPT also saw net foreign buying.

Meanwhile, proprietary trading desks at securities companies were net buyers of 551 billion VND. The standout was EIB, which saw a massive net purchase of 300 billion VND. VIC and VHM also received significant proprietary buying of 34 billion VND and 26 billion VND, respectively. On the sell side, proprietary desks net sold MCH (21 billion VND), HDB (13 billion VND), and KDH (11 billion VND).

Market Context

On July 3, TCB closed at 33,600 VND, down 0.74%, with volume of 15.4 million shares. MSN fell 0.83% to 71,800 VND, while VIC closed flat at 220,300 VND. GEX declined 1.29% to 30,550 VND. The banking sector, where TCB is a key player, has been under foreign selling pressure in recent sessions, reflecting broader concerns about global interest rates and emerging market flows. The VN-Index has been volatile, with foreign net selling a persistent headwind.

Strategic Significance

The persistent foreign selling in TCB and other large-cap stocks suggests a cautious stance by international investors, possibly due to global monetary tightening or sector-specific concerns. However, the strong proprietary buying, especially in EIB, indicates that domestic institutions see value at current levels. This divergence may create opportunities for long-term investors, particularly if foreign selling abates. The accumulation of EIB by proprietary desks could signal confidence in the banking sector’s fundamentals.

What to Watch

• Foreign net flow data for the next few sessions to see if selling pressure persists.
• TCB’s upcoming earnings report and any guidance on loan growth or asset quality.
• Proprietary trading activity in EIB and whether it continues to attract domestic institutional buying.
• Any regulatory changes affecting foreign ownership limits or capital flows.
• Global market developments, particularly US interest rate decisions, that could influence foreign investor sentiment.