Foreign Investors Net Sell Over 1,000 Billion VND on May 11: VHM, FPT, DGC, ACB, TCH Hit Hardest

Overview

On May 11, foreign investors continued their net selling streak, offloading over 1,000 billion VND (~$40 million) across Vietnamese exchanges. The selling pressure was concentrated on blue-chip stocks VHM, FPT, DGC, ACB, and TCH, while BSR, GEE, and DCM attracted net buying. The VN-Index dropped nearly 20 points to 1,896, with trading volume reaching 25,400 billion VND.

Key Facts

• Foreign net selling on May 11 totaled 1,004 billion VND (~$40.16 million) across all exchanges.
• On HoSE, net selling reached 1,019 billion VND, with VHM leading at 368 billion VND sold.
• FPT saw net selling of 218 billion VND, followed by DGC (189 billion VND), ACB (131 billion VND), and TCH (119 billion VND).
• On the buying side, BSR was the top net buy at 133 billion VND, followed by GEE (101 billion VND) and DCM (97 billion VND).
• On HNX, foreign investors net bought 17 billion VND, with PVS leading at 27 billion VND.
• On UPCoM, net selling was modest at nearly 1 billion VND, with ACV being the most sold (17 billion VND).
• The VN-Index fell 1% to 1,896 points, with matching volume of 25,400 billion VND.

What Happened

Foreign investors intensified their net selling on May 11, extending the trend from the previous session. According to exchange data, the net sell-off amounted to nearly 1,004 billion VND across the HoSE, HNX, and UPCoM markets. The selling was broad-based but heavily concentrated in real estate, technology, and banking stocks.

On HoSE, Vinhomes (VHM) was the most sold stock, with net selling of 368 billion VND. FPT, DGC, ACB, and TCH also faced significant selling pressure. In contrast, BSR, GEE, and DCM were the top net buys, with BSR attracting 133 billion VND. On HNX, PVS led net buying, while SHS was the most sold. On UPCoM, OIL and QNS saw net buying, while ACV was the top sell.

Market Context

On May 11, the VN-Index declined 1% to 1,896 points, reflecting broad market weakness. The foreign selling added to the downward pressure, particularly on large-cap stocks. VHM, which closed at 138 on April 15 (up 6.83% on that day), saw heavy foreign selling. FPT closed at 75 (down 1.31%), DGC at 56 (down 1.07%), and ACB at 24 (down 0.62%). The sell-off comes amid a period of elevated foreign outflows from Vietnamese equities, driven by global monetary tightening and domestic regulatory concerns.

Strategic Significance

The persistent foreign net selling, especially in high-liquidity stocks like VHM and FPT, signals a cautious stance by international investors toward Vietnamese equities in the near term. The concentration of selling in real estate and technology sectors may reflect concerns about valuation or sector-specific risks. However, the selective buying in energy and industrial stocks (BSR, GEE, DCM) suggests some foreign investors are rotating into sectors with perceived resilience or growth potential. The trend warrants monitoring as it could influence market sentiment and liquidity in the coming sessions.

What to Watch

• Continuation of foreign net selling in the next few sessions, particularly in VHM, FPT, and DGC.
• Any official commentary from the State Securities Commission or SBV regarding foreign capital flows.
• Q2 earnings reports from VHM, FPT, and DGC to assess fundamental support for current valuations.
• Changes in foreign ownership limits or new regulations affecting foreign investment in Vietnam.
• Global market developments, especially US Federal Reserve policy signals, that could drive capital flows.