Foreign Net Selling Hits VND 6,000B in One Session, VIC Accounts for VND 4,900B

Overview

Foreign investors net sold nearly VND 6,000 billion in a single session on June 4, 2026, with Vingroup (VIC) shares accounting for VND 4,900 billion of the outflow. Domestic institutions net bought VND 5,500 billion, providing support. The VN-Index rose 12.54 points to 1,831.55, driven by Vingroup stocks and large-cap banks.

Key Facts

• Foreign investors net sold nearly VND 6,000 billion in one session, more than triple the weekly net selling of VND 2,300 billion the prior week.
• VIC shares accounted for VND 4,900 billion of the foreign net selling.
• Domestic institutions net bought VND 5,500 billion in the same week, accumulating net buying of VND 35,000 billion year-to-date.
• Foreign net selling on HOSE reached VND 6,200 billion for the week, VND 19,000 billion in May, and nearly VND 65,000 billion from the start of 2026.
• The 2026 year-to-date foreign net selling has already exceeded half of the full-year 2025 total of nearly VND 125,000 billion.
• Analysts from SHS expect the foreign selling trend to continue until August or September, when market upgrade clarity may emerge.
• VIC shares rose 1.32% to VND 200,200, VHM gained 1.08%, and VRE added 3.49% on the session.

What Happened

On June 4, 2026, the VN-Index staged a sharp reversal, closing up 12.54 points at 1,831.55, driven by Vingroup stocks and large-cap banks. However, foreign investors executed a record single-session net sell of nearly VND 6,000 billion, primarily through a VND 4,900 billion block sale of VIC shares. The selling was broad-based across sectors, with foreign investors net selling most tickers except for selective buys in FPT and SHB.

Domestic institutions acted as a counterweight, net buying VND 5,500 billion during the week, while retail investors net sold VND 600 billion. Analysts at SHS Securities noted that the foreign selling trend is likely to persist for the next few months, potentially easing only in August or September as the market upgrade story becomes clearer.

Market Context

VIC (HOSE) closed at VND 200,200, up 1.32% on the day, despite the massive foreign sell-off. The broader real estate sector saw mixed performance, with Vingroup-related stocks (VHM, VRE) gaining, while others like KDH, DXG, and DIG declined. Banking stocks were broadly positive, with VCB, BID, CTG, and VPB supporting the index. The VN-Index remains near recent highs, but foreign selling pressure has been a persistent headwind, with cumulative net selling of VND 65,000 billion year-to-date.

Strategic Significance

The concentrated foreign selling in VIC highlights ongoing foreign investor rotation away from Vietnam’s real estate conglomerate, likely driven by global risk-off sentiment, valuation concerns, or portfolio rebalancing. The ability of domestic institutions to absorb the selling suggests strong local liquidity, but the scale of foreign outflows raises questions about market depth. The trend may persist until the FTSE Russell market upgrade decision, which could attract passive inflows and reverse the selling.

What to Watch

• Weekly foreign flow data for continued selling pressure, especially in VIC and other large caps.
• Any official announcement from FTSE Russell regarding Vietnam’s market upgrade status, expected around August or September.
• Q2 2026 earnings reports from VIC and Vingroup subsidiaries to assess fundamental support.
• Domestic institutional buying momentum: whether they can sustain the pace of net purchases.
• SBV policy moves on interest rates or foreign exchange that could affect foreign investor sentiment.