Foreign Investors Net Sell VND 1.56 Trillion, VN30 Banks Hit

Overview

Foreign investors turned heavy net sellers on September 3, 2026, offloading VND 1,564.2 billion (USD 62.6 million) in Vietnamese equities, with the VN30 group bearing the brunt. Banks and real estate led the sell-off, while VN-Index fell slightly by 4.40 points to close at 1,827.72. The selling pressure was broad, with 236 decliners versus advancers, and liquidity remained subdued at over VND 18 trillion.

Key Facts

• Foreign net selling reached VND 1,564.2 billion (approx. USD 62.6 million) on September 3, 2026.
• Matched-order foreign net selling was VND 1,452.6 billion.
• Top net sold stocks on matched orders: VCB, VPB, TCB, VIC, HPG.
• Top net bought stocks on matched orders: VIX, DPM, VPI, SSB, DCM.
• VN-Index closed at 1,827.72, down 4.40 points; VN30 fell 21.39 points.
• VIC rose 3.6% to VND 244,500, contributing 13.65 points to VN-Index.
• Proprietary trading (tự doanh) net sold VND 274.7 billion, with matched-order net selling of VND 280.2 billion.

What Happened

Foreign investors reversed a streak of modest net buying and aggressively sold Vietnamese stocks on September 3, 2026, according to exchange data. The net selling value of VND 1,564.2 billion was concentrated in VN30 large-caps, with banking and real estate sectors leading the decline. Notable net sold names included Vietcombank (VCB), VPBank (VPB), Techcombank (TCB), Vingroup (VIC), and Hoa Phat Group (HPG).

The market opened with selling pressure, at one point losing 27 points, but recovered partly due to a strong rally in VIC, which jumped 3.6% to VND 244,500, adding 13.65 points to the index. Despite this, market breadth was negative, with 236 stocks falling versus 105 rising. Liquidity was low at over VND 18 trillion, suggesting investors were not yet ready to buy the dip. The article attributes the sell-off to delayed reactions to global macro risks, including a bond market sell-off and renewed Middle East tensions.

Market Context

Vietcombank (VCB), listed on HOSE, closed at VND 58,700 on September 3, 2026, down nearly 4% during the session. The banking sector was among the hardest hit, with VPB and TCB also declining sharply. The VN30 index fell 21.39 points, underperforming the broader VN-Index. Foreign selling pressure on banks and real estate is a recurring theme in 2026, as global risk aversion and domestic liquidity concerns weigh on investor sentiment. The low trading volume indicates cautious positioning ahead of potential further corrections.

Strategic Significance

For long-term investors, the heavy foreign net selling in banking and real estate names like VCB, VPB, TCB, and VIC signals a shift in foreign sentiment, possibly due to global macro headwinds and sector-specific concerns. Banks, which have been favored for their earnings growth, are now facing profit-taking. The fact that foreign investors bought chemicals (DPM, DCM, VPI) and other defensive sectors suggests a rotation rather than a wholesale exit. This could present opportunities for domestic investors if the sell-off overshoots, but the lack of buying interest from proprietary traders adds caution.

What to Watch

• Whether foreign net selling continues in the coming sessions, especially in VN30 names.
• VN-Index support at the 1,800 level; a break below could trigger further declines.
• Global bond yields and Middle East tensions as key macro drivers.
• Q3 earnings reports from banks (VCB, VPB, TCB) for any fundamental deterioration.
• Any policy response from the State Bank of Vietnam or government to stabilize markets.