Foreign Net Selling Hits VND 1,950 Billion Ahead of Holiday, VN-Index Drops 17 Points

Overview

Foreign investors net sold nearly VND 1,950 billion (approximately USD 78 million) on April 24, 2026, ahead of a long holiday, contributing to a 17-point decline in the VN-Index to 1,853.29. Banking and real estate stocks, including VIC, VHM, and VCB, led the sell-off, while oil & gas stocks attracted some buying interest. The selling was broad-based, with market breadth negative (188 decliners vs. 135 advancers).

Key Facts

• Foreign investors net sold VND 1,948.2 billion on April 24, 2026, with matched-order net selling of VND 1,836.2 billion.
• VN-Index fell 17 points to close at 1,853.29.
• VIC dropped 1.12%, VHM fell 5.23%, VPL declined 2.4%, and VRE lost 0.86%, collectively shaving 11 points off the index.
• Banking stocks VCB, BID, CTG, and VPB also declined, amplifying the index drop.
• Top foreign net buying (matched orders) included TCB, VPI, SSI, VJC, MBB, VRE, NVL, HCM, TCH, and VPL.
• Top foreign net selling (matched orders) included FPT, ACB, VCB, VHM, VNM, HDB, MSN, CTG, and PNJ.
• Market liquidity fell to VND 21,000 billion, indicating cautious cash positioning.
• Domestic individual investors net bought VND 1,046.8 billion, with matched-order net buying of VND 940.3 billion.

What Happened

On April 24, 2026, the last trading session before a long holiday, foreign investors intensified selling, with net sales reaching VND 1,948.2 billion (USD 78 million). The VN-Index dropped 17 points to 1,853.29, driven by weakness in banking and real estate stocks. According to the article by Thu Minh, the market’s key supporting pillars from the previous week—Vingroup stocks (VIC, VHM, VPL, VRE) and major banks—all weakened simultaneously, breaking the pattern of a seemingly stable market.

Foreign selling was concentrated in banking stocks, with FPT, ACB, VCB, VHM, VNM, HDB, MSN, CTG, and PNJ among the top sold. Conversely, foreign investors bought selectively in travel & leisure and securities stocks, with TCB, VPI, SSI, VJC, MBB, VRE, NVL, HCM, TCH, and VPL seeing net buying. Domestic individual investors stepped in as net buyers, particularly in banking stocks, absorbing some of the foreign selling pressure.

Market Context

This sell-off comes after a period of strong gains for VIC and VHM, which had risen 6.95% and 6.83% respectively on April 15, 2026. The broad-based decline in banking and real estate stocks suggests profit-taking ahead of the holiday, with foreign investors reducing exposure. The VN-Index’s drop to 1,853.29 brings it closer to its 50-day moving average, and the lower liquidity (VND 21,000 billion) indicates cautious sentiment. The selling was not limited to large caps; mid-cap real estate stocks like NVL, DXG, and PDR saw some buying, while consumer stocks (MWG, VNM, MSN) continued to weaken.

Strategic Significance

The foreign net selling highlights ongoing caution among international investors toward Vietnamese equities, particularly in the banking and real estate sectors. The concentration of selling in high-valuation stocks like VHM and VCB may reflect concerns about sector-specific risks (e.g., real estate liquidity, banking asset quality) or broader global factors. However, the selective buying in securities and travel stocks suggests foreign investors are rotating into sectors with perceived growth catalysts. The ability of domestic individual investors to absorb foreign selling provides a short-term buffer, but sustained foreign outflows could pressure the market further.

What to Watch

• Foreign net flow data for the next trading session after the holiday to gauge whether selling resumes.
• VN-Index support level at 1,850 and potential bounce from the 50-day moving average.
• Q1 2026 earnings reports for VIC, VHM, and major banks to assess fundamental strength.
• Any policy announcements from the State Bank of Vietnam (SBV) regarding credit growth or interest rates.
• Global oil price movements, as oil & gas stocks (GAS, PLX) showed resilience and could attract further foreign interest.