Foreign Investors Net Sell 840B VND on May 12; VIC, VRE Bought Heavily

Overview

Foreign investors net sold over 840 billion VND (~33.6 million USD) on the Vietnamese stock market on May 12, marking another session of significant net outflow. The selling was concentrated on large-cap stocks FPT, VHM, MSB, ACB, and VCB, while Vingroup (VIC) and Vinhomes (VRE) saw strong net buying. The VN-Index managed to close near the 1,900-point level, up nearly 6 points.

Key Facts

• Foreign net selling on the entire market reached approximately 840 billion VND (~33.6 million USD).
• On HoSE, foreign investors net sold 825 billion VND.
• Top net buy on HoSE: VIC with 196 billion VND, followed by VRE (118 billion), GEX (97 billion), VPB (47 billion), and DCM (31 billion).
• Top net sell on HoSE: FPT with 172 billion VND, VHM (154 billion), MSB (137 billion), ACB (130 billion), and VCB (87 billion).
• On HNX, foreign net selling was nearly 3 billion VND, with IDC leading the sell-off (5 billion VND).
• On UPCoM, foreign net selling exceeded 8 billion VND, with ACV being the most sold (14 billion VND).
• VIC closed at 222,000 VND (-0.45%), VRE at 35,450 VND (+5.51%) on May 12.

What Happened

According to market data from the May 12 trading session, foreign investors continued their net selling trend, offloading a total of nearly 840 billion VND across HoSE, HNX, and UPCoM. The selling pressure was most pronounced on HoSE, where foreign net sales reached 825 billion VND. The top five stocks sold were FPT (172 billion VND), VHM (154 billion), MSB (137 billion), ACB (130 billion), and VCB (87 billion).

On the buying side, foreign investors showed strong interest in VIC (196 billion VND) and VRE (118 billion), both real estate-related stocks under the Vingroup umbrella. Other notable net buys included GEX (97 billion), VPB (47 billion), and DCM (31 billion). On HNX, PVS was the top net buy (3 billion VND), while IDC led the sell-off (5 billion VND). On UPCoM, QNS was the top net buy (7 billion VND), and ACV was the most sold (14 billion VND).

Market Context

The VN-Index closed at approximately 1,900 points, up 6 points, despite the foreign net outflow. Trading volume on HoSE was around 19,130 billion VND, slightly lower than the previous session. VIC shares edged down 0.45% to 222,000 VND, while VRE surged 5.51% to 35,450 VND, reflecting divergent investor sentiment. The persistent foreign selling, particularly in banking and technology stocks, suggests ongoing portfolio rebalancing by international funds.

Strategic Significance

The net buying of VIC and VRE indicates selective foreign interest in Vietnam’s real estate sector, possibly driven by expectations of a recovery in the property market or specific corporate developments at Vingroup. The heavy selling of FPT, VHM, MSB, ACB, and VCB may reflect profit-taking or sector rotation away from high-valuation stocks. For long-term investors, the divergence highlights the importance of stock-specific fundamentals amid broad foreign outflows.

What to Watch

• Subsequent foreign flow data to see if the selling trend persists or reverses.
• Q2 earnings reports for VIC, VRE, and the heavily sold banks (MSB, ACB, VCB) to assess fundamental drivers.
• Any corporate announcements from Vingroup regarding its business strategy or capital allocation.
• VN-Index’s ability to hold above 1,900 points as a key support level.
• Changes in foreign ownership limits or regulatory policies affecting foreign investment.