Foreign Investors Net Sell Record VND 7.2 Trillion in First Week of June, VIC Hit Hardest

Overview

Foreign investors net sold a record VND 7,192 billion (approximately USD 288 million) on the Vietnamese stock market in the first week of June, according to exchange data. The selling was concentrated on HoSE, with Vingroup (VIC) bearing the brunt at VND 4,820 billion in net outflows. In contrast, FPT Corporation (FPT) was the top net buy at VND 1,501 billion. The heavy foreign selling contributed to a 1.23% weekly decline in the VN-Index, though a late-week rebound in banking and Vingroup stocks limited losses.

Key Facts

• Foreign investors net sold VND 7,192 billion (USD 288 million) across all exchanges in the first week of June.
• On HoSE, net selling reached VND 7,342 billion, while HNX and UPCoM saw net buying of VND 100 billion and VND 51 billion, respectively.
• VIC was the most sold stock, with net outflows of VND 4,820 billion, far exceeding any other stock.
• Other heavily sold stocks included ACB (VND 455 billion), VPB (VND 363 billion), VHM (VND 274 billion), and TCB (VND 273 billion).
• FPT was the top net buy at VND 1,501 billion, followed by SHB (VND 165 billion), VIX (VND 81 billion), and NVL (VND 63 billion).
• The VN-Index fell 24.59 points (-1.23%) week-on-week to close at 1,838.9 points.
• The largest single-day selling occurred on Thursday, with net outflows of nearly VND 5,800 billion, primarily via block trades.

What Happened

Foreign investors intensified their net selling in the first week of June, with total net outflows reaching VND 7,192 billion, a record weekly amount. The selling pressure was most acute on Thursday, when foreign investors net sold nearly VND 5,800 billion, mainly through block trades. This drove the VN-Index below the 1,800-point support level intraweek before a recovery in the final two sessions.

According to exchange data, VIC was the primary target of foreign selling, with net outflows of VND 4,820 billion, accounting for 67% of total net selling. Other large-cap stocks in banking and real estate also faced significant selling. On the buying side, FPT attracted the most foreign capital, with net purchases of VND 1,501 billion, followed by SHB and VIX.

Market Context

The foreign selling occurred against a backdrop of a declining VN-Index, which fell 1.23% for the week. VIC shares closed at VND 207,000 on June 5, up 3.40% on the day, suggesting some domestic buying absorbed foreign selling. VHM also rose 1.33% to VND 152,000. Banking stocks like ACB and VPB were relatively flat. The selling was broad-based, affecting multiple sectors including real estate, banking, and steel. The HoSE bore the brunt of the outflows, while HNX and UPCoM saw modest net buying.

Strategic Significance

The record foreign selling in early June underscores persistent foreign investor caution toward Vietnamese equities, particularly large-cap real estate and banking stocks. The concentration of selling in VIC, a flagship stock of Vingroup, may reflect concerns about the group’s leverage or sector-specific headwinds. However, the strong domestic buying that absorbed the selling and lifted VIC and VHM late in the week suggests that local institutional and retail investors remain confident in these names. The divergence between foreign selling and domestic buying could create opportunities for long-term investors if fundamentals remain intact.

What to Watch

• Continuation of foreign selling in subsequent weeks, especially in VIC and other heavily sold stocks.
• Any corporate announcements from Vingroup regarding share buybacks or strategic moves to restore foreign investor confidence.
• The VN-Index’s ability to hold above the 1,800-point support level.
• Foreign buying momentum in FPT and other net-bought stocks.
• Upcoming macroeconomic data and SBV policy decisions that may influence foreign capital flows.