Foreign Net Sell Nearly VND 1,000B on May 5; VIC, VHM Prop Up VN-Index

Overview

On May 5, 2026, foreign investors net sold nearly VND 1,000 billion on the Vietnamese stock market, while domestic individual investors net bought VND 760.8 billion. The VN-Index rose 20.79 points, driven almost entirely by VIC and VHM, which together contributed 20.46 points. However, market breadth was negative with 213 declining stocks versus only about 107 gainers, highlighting a narrow rally.

Key Facts

• Foreign investors net sold VND 997.5 billion on May 5, 2026, with matched-order net sell of VND 969.0 billion.
• Domestic individual investors net bought VND 760.8 billion, with matched-order net buy of VND 1,092.7 billion.
• The VN-Index rose 20.79 points, with VIC and VHM contributing 20.46 points.
• Market breadth was negative: 213 stocks declined, roughly double the number of gainers.
• Total liquidity on three exchanges reached VND 23,000 billion.
• Foreign net buying focused on utilities and oil & gas stocks: POW, VHM, PVT, VRE, VIC, BSR, GMD, GAS, MWG, PVD.
• Foreign net selling was heaviest in banking: ACB, HPG, FPT, VCB, KDH, TCH, NVL, KBC, NLG.
• Proprietary trading desks net sold VND 358.8 billion overall, but net bought VND 30.5 billion on matched orders.

What Happened

On May 5, 2026, foreign investors continued their net selling streak, offloading nearly VND 1,000 billion worth of Vietnamese equities. According to the article, the net sell amounted to VND 997.5 billion, with matched-order net sell of VND 969.0 billion. Domestic individual investors stepped in as buyers, net purchasing VND 760.8 billion, including VND 1,092.7 billion on matched orders.

The VN-Index rose sharply by 20.79 points, but the gain was almost entirely attributable to two blue-chip stocks: VIC (Vingroup) and VHM (Vinhomes). These two tickers alone contributed 20.46 points to the index. Despite the index gain, market breadth was negative, with 213 stocks declining versus only about 107 advancing. The oil & gas sector was a bright spot, with BSR, PLX, PVD, and GAS all rising strongly on expectations of higher global oil prices amid Middle East tensions. Some individual stocks like VPB, LPB, and GEE hit ceiling prices, while ACV, VJC, and FPT also posted gains.

Market Context

The May 5 session occurred against a backdrop of continued foreign selling pressure. The VN-Index’s rise was heavily dependent on VIC and VHM, both of which had recently shown strong gains: VIC closed at VND 177 (+6.95%) and VHM at VND 138 (+6.83%) on April 15. However, the negative breadth suggests that the rally was not broad-based. Banking stocks, which have large weightings in the index, faced selling pressure from foreign investors, with ACB, HPG, FPT, VCB, and others being net sold. Real estate stocks also struggled, with NVL hitting its second consecutive floor price. The divergence between foreign and domestic flows underscores the ongoing tug-of-war in the market.

Strategic Significance

The persistent foreign net selling, particularly in banking and real estate, reflects ongoing concerns about valuation, global interest rate trends, or sector-specific headwinds. Meanwhile, domestic individual investors are absorbing the supply, indicating confidence in the market’s medium-term outlook. The heavy reliance on VIC and VHM for index gains highlights the concentration risk in the VN-Index. For long-term investors, the key question is whether the foreign selling is a temporary repositioning or a structural shift. The oil & gas sector’s strength, driven by geopolitical factors, may offer a hedge but also introduces volatility.

What to Watch

• Continued foreign flow data in the coming sessions to see if net selling accelerates or stabilizes.
• VIC and VHM price action: whether they can sustain their rally without broader market support.
• Banking sector performance: if foreign selling persists, it could pressure index further.
• Oil price movements and Middle East developments, which directly impact oil & gas stocks.
• Q1 2026 earnings reports for affected tickers to validate fundamental stories behind individual stock moves.