TCB Leads Foreign Net Buying as Vietnam Ends 21-Session Selloff

Overview

Foreign investors turned net buyers of approximately VND 160 billion across Vietnam’s three exchanges, ending a run of 21 consecutive net-selling sessions, according to market data reported for the session. Techcombank (TCB), listed on HOSE, drew the largest single inflow at roughly VND 290 billion, while FPT, VCB and ACB recorded outflows. The shift coincided with a broad rally that lifted the VN-Index nearly 47 points to about 1,739.

Key Facts

• Foreign investors net bought about VND 160 billion market-wide, ending a 21-session net-selling streak.
• On HOSE, foreign investors were net buyers of roughly VND 190 billion.
• TCB led net inflows at approximately VND 290 billion, well ahead of all other tickers.
• Other HOSE net buys: MSN about VND 145 billion, VIC nearly VND 89 billion, VIB over VND 51 billion, SSI about VND 50 billion.
• HOSE net sells: FPT about VND 173 billion, VCB about VND 106 billion, ACB about VND 103 billion, DXG nearly VND 62 billion, VPB about VND 58 billion.
• HNX saw net selling of about VND 31 billion, led by PVS at roughly VND 16 billion; UPCoM recorded net buying of about VND 1 billion.
• The VN-Index rose nearly 47 points to about 1,739, with HoSE turnover improving to roughly VND 17,440 billion.

What Happened

The session marked a reversal in foreign positioning after more than a month of sustained selling. Market data showed foreign investors net bought about VND 160 billion overall, with HOSE accounting for roughly VND 190 billion of inflows while HNX recorded about VND 31 billion of outflows and UPCoM about VND 1 billion of inflows. The buying was concentrated: TCB alone attracted around VND 290 billion, followed by MSN at roughly VND 145 billion, VIC at nearly VND 89 billion, VIB at more than VND 51 billion and SSI at about VND 50 billion.

On the selling side, FPT topped the list at about VND 173 billion, with VCB and ACB next at roughly VND 106 billion and VND 103 billion respectively, followed by DXG at nearly VND 62 billion and VPB at about VND 58 billion. The article attributes the figures to exchange trading data and does not disclose the identity of the foreign buyers or sellers. The broader market rally was led by stocks associated with Vingroup, with the VN-Index accelerating into the close.

Market Context

TCB closed at VND 34,400 on 21 October 2026 on HOSE, and the session’s inflow represents a meaningful single-day absorption relative to the bank’s recent trading. The move came alongside gains across the Vingroup complex, with VIC closing at VND 223,600, MSN at VND 73,700 and VIB at VND 14,100. The end of the foreign selling streak matters for sentiment because sustained foreign outflows had been a persistent drag on index-level liquidity; HoSE turnover of about VND 17,440 billion suggests domestic cash was already returning before foreign flows flipped positive.

Strategic Significance

For long-term investors, the key question is whether this is a one-session technical rebound in foreign flows or the start of a reallocation back into Vietnamese equities. The concentration of buying in TCB, a large-cap private bank, rather than across the banking sector broadly, points to stock-specific conviction rather than a sector-wide rotation. The simultaneous selling of FPT, VCB and ACB suggests foreign money is rotating within Vietnam rather than simply adding exposure. If the pattern persists, it would support the thesis that foreign investors are repositioning toward banks with stronger earnings visibility while trimming crowded technology and state-owned bank positions.

What to Watch

• Daily foreign net flow data over the next five to ten sessions to confirm whether the reversal holds.
• Whether TCB inflows continue or reverse once the initial buying is absorbed.
• Follow-on foreign activity in FPT, VCB and ACB, which would indicate rotation versus broad de-risking.
• HoSE turnover trends, given the session’s roughly VND 17,440 billion in matched value.
• Any disclosure of foreign-ownership limits or room changes in TCB.