Vietcombank (VCB) Leads Foreign Net Buying as VN-Index Gains 22 Points

Overview

Foreign investors net bought approximately VND 730 billion of Vietnamese stocks on September 15, led by Vietcombank (VCB) on HOSE with more than VND 228 billion in net purchases. The inflows came as the VN-Index rose 22 points to close at 1,811, supported by demand for large-cap leaders. The session’s flow pattern favored banks and energy names while real estate heavyweights Vingroup (VIC) and Vinhomes (VHM) were sold.

Key Facts

• Foreign investors net bought about VND 730 billion across the Vietnamese market on September 15.
• On HOSE, foreign net buying reached VND 717 billion; VCB led at over VND 228 billion.
• BSR followed with VND 158 billion in net buys and BID with VND 125 billion.
• VIC recorded the largest net selling at VND 343 billion, ahead of VHM at VND 212 billion and STB at VND 66 billion.
• On HNX, foreign investors net sold VND 1.7 billion; PVS saw VND 7 billion of net selling while NTP and BVS each drew VND 2 billion of net buying.
• On UPCOM, foreign investors net bought VND 14 billion, with MSR accounting for VND 7 billion.
• Total HOSE trading value for the session exceeded VND 16,600 billion.

What Happened

Foreign capital returned as a net buyer of Vietnamese equities on September 15, with market-wide net purchases of roughly VND 730 billion, according to the session summary. On HOSE, the net buy figure reached VND 717 billion. Vietcombank (VCB) attracted the largest single inflow at more than VND 228 billion, followed by BSR at VND 158 billion and BID at VND 125 billion. The buying concentrated in banking and energy names.

The selling side was dominated by real estate. Vingroup (VIC) led net outflows at VND 343 billion, with Vinhomes (VHM) next at VND 212 billion and STB at VND 66 billion. On HNX, foreign investors were marginal net sellers of VND 1.7 billion, with PVS seeing VND 7 billion of net selling and IDC VND 3.4 billion, partly offset by VND 2 billion each into NTP and BVS. On UPCOM, net buying of VND 14 billion was led by MSR at VND 7 billion, with smaller purchases in QNS and ABB. The article does not attribute the flows to specific investors or funds.

Market Context

VCB trades on HOSE and closed at VND 60,000 on September 15, with BID at VND 36,800 and BSR at VND 30,450. VIC closed at VND 241,300. The VN-Index’s 22-point advance to 1,811 came on HOSE turnover above VND 16,600 billion, indicating liquidity held up alongside the index move. The session fits a broader pattern in which foreign flows rotate between banking and energy on the buy side and real estate conglomerates on the sell side, leaving the index supported by large-cap demand even as selected blue chips face persistent foreign outflows.

Strategic Significance

For long-term investors, the session highlights a divergence within Vietnam’s large-cap complex rather than a uniform foreign appetite for the market. Sustained accumulation in VCB and BID suggests foreign institutions continue to treat the largest state-linked banks as core exposure to Vietnam’s credit growth and net interest margin cycle, while BSR buying points to interest in the downstream energy chain. The persistent selling in VIC and VHM indicates that foreign holders are still reducing exposure to the property and conglomerate segment, a trend that has weighed on those names independently of index direction. The durability of the banking bid, rather than the single-session total, is the more relevant signal for positioning.

What to Watch

• Daily foreign net flow data for VCB, BID and BSR to confirm whether the buying is a trend or a one-session event.
• Continued foreign selling in VIC and VHM, and whether it accelerates or stabilizes.
• HOSE turnover relative to the VND 16,600 billion recorded on September 15 as a gauge of domestic participation.
• Any foreign-ownership room or block-trade filings involving VCB, BID or the real estate names.
• Upcoming third-quarter earnings and any SBV policy signals affecting bank net interest margins.