Foreign Investors Sell VND 2,122B in Vietnam Stocks; VHM, TCB, VIC Lead

Overview

Foreign investors reversed to net selling in the Vietnamese stock market during the week of August 10-14, with total net sell value reaching VND 2,122 billion (approximately USD 84.9 million). The sell-off was led by real estate giant Vinhomes (VHM), along with major banks TCB and VIC, and coincided with a 2.2% weekly decline in the VN-Index to 1,729.08 points.

Key Facts

• Foreign investors net sold VND 2,122 billion (USD 84.9 million) across all three exchanges in the week of August 10-14.
• On HoSE, net selling reached VND 2,189 billion, while HNX and UPCoM saw net buying of VND 37 billion and VND 30 billion, respectively.
• VHM was the most sold stock, with net selling of VND 850 billion.
• TCB followed with net selling of VND 702 billion, and VIC with VND 551 billion.
• Other notable net-sold tickers included FPT (-VND 294 billion), ACB (-VND 248 billion), SHB (-VND 198 billion), VRE (-VND 170 billion), VPB (-VND 151 billion), and HPG (-VND 149 billion).
• On the buying side, VIX led with net purchases of VND 278 billion, followed by SSI (VND 267 billion) and GEX (VND 252 billion).
• The VN-Index fell 38.98 points (-2.2%) week-on-week to close at 1,729.08 points.

What Happened

According to data compiled from the trading week of August 10-14, foreign investors shifted to a net selling position, unloading VND 2,122 billion worth of Vietnamese equities. The selling pressure was concentrated on large-cap names, with VHM, TCB, and VIC accounting for the largest outflows. VHM alone saw net selling of VND 850 billion, followed by TCB at VND 702 billion and VIC at VND 551 billion.

The market experienced a volatile week: the first three sessions saw buying interest in large caps and Vingroup-related stocks, pushing the VN-Index toward the 1,790-point level. However, profit-taking in the final two sessions triggered sharp declines across many blue chips, erasing earlier gains. The index closed the week at 1,729.08, down 2.2% from the prior week.

Market Context

VHM, listed on HOSE, closed at VND 68,000 on August 14, down 5.01% on the day, reflecting the heavy foreign selling. TCB also closed at VND 32,000, while VIC fell 3.61% to VND 200,000. The sell-off in these names contributed to the broader market decline, with the VN-Index dropping 2.2% for the week. The foreign net selling comes after a period of relative stability, suggesting renewed caution among overseas investors amid global uncertainties and domestic profit-taking.

Strategic Significance

For long-term investors, the foreign selling in VHM, TCB, and VIC highlights the vulnerability of large-cap, high-valuation stocks to shifts in foreign sentiment. VHM, as a leading real estate developer, remains sensitive to both domestic property market conditions and foreign capital flows. The concentrated selling in these names may reflect portfolio rebalancing or profit-taking after recent gains, rather than a fundamental deterioration. However, sustained foreign outflows could pressure liquidity and valuations in the near term, making it crucial to monitor whether this trend persists.

What to Watch

• Weekly foreign flow data for the week of August 17-21 to see if net selling continues or reverses.
• VHM’s upcoming quarterly earnings report and any updates on its project pipeline.
• TCB’s credit growth and asset quality metrics in the context of banking sector trends.
• VIC’s corporate actions, including any new business developments or divestments.
• Broader market sentiment, including the VN-Index’s ability to hold above the 1,700-point support level.