Foreign Net Selling Hits VND 80 Trillion in H1 2026: VIC Bought, VHM/TCB/VPB Sold
This Aveluro analysis covers VIC (VinGroup) on HOSE in the Real Estate sector. The classified event type is foreign flow, with negative sentiment and a deterministic market-impact score of 7.0/10. Aveluro classifies this story as a negative catalyst and risk signal for the affected stock. Source coverage came from Vietstock - Cổ phiếu, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Foreign investors net sold nearly VND 80 trillion (approximately USD 3.2 billion) on HOSE in the first half of 2026, with Vingroup (VIC) being the most bought stock but VHM, TCB, and VPB among the most sold. Analysts do not expect a near-term reversal, though foreign trading share has declined to 11.9%.
Key Facts
- Foreign investors net sold nearly VND 79.8 trillion on HOSE in H1 2026.
- In June 2026 alone, net selling reached over VND 15.3 trillion.
- VIC was the most bought stock in June, with net buying of nearly VND 585 billion.
- VHM was the most sold stock in June, with net selling of over VND 2.4 trillion.
- TCB and VPB each saw net selling of around VND 1.5 trillion in June.
- On HNX, foreign investors net sold VND 17.1 billion in June, ending a four-month buying streak.
- Foreign trading share on the entire market fell to 11.9% in H1 2026 from 13.5% in 2025.
What Happened
According to data from VietstockFinance, foreign investors continued their net selling trend on HOSE in June, with 18 out of 22 trading sessions recording net sales. The total net selling for the month exceeded VND 15.3 trillion, bringing the H1 2026 total to nearly VND 79.8 trillion. Notable sessions included June 4 (net selling of nearly VND 5.8 trillion) and June 17 (net selling of nearly VND 3.2 trillion), while June 15 saw net buying of nearly VND 4.2 trillion, driven by large block trades in VIC.
VIC was the most bought stock in June, with net buying of nearly VND 585 billion. In contrast, VHM, TCB, and VPB were the most sold, with net selling of VND 2.4 trillion, VND 1.5 trillion, and VND 1.5 trillion, respectively. On HNX, foreign investors net sold VND 17.1 billion in June, ending a four-month buying streak, but H1 net buying on HNX remained positive at nearly VND 924 billion.
Market Context
Despite the persistent foreign selling, the VN-Index closed June around 1,860 points, showing resilience. However, market liquidity remained subdued. The selling pressure has been a multi-year trend, and analysts do not expect a quick reversal. On July 2, 2026, VIC closed at VND 220,300 (+1.47%), VHM at VND 150,400 (+1.14%), TCB at VND 33,850 (-1.31%), and VPB at VND 27,700 (unchanged). All four stocks trade on HOSE.
Strategic Significance
The sustained foreign net selling reflects broader risk aversion in emerging markets, partly due to US-Iran geopolitical tensions, as noted by VNDIRECT analyst Hoang Viet Phuong. However, the declining foreign trading share (to 11.9%) suggests that domestic investors are increasingly driving market direction. For Vingroup, the divergence between VIC (bought) and VHM (sold) indicates selective foreign interest, possibly tied to VIC’s large block trades. For banks TCB and VPB, persistent selling may weigh on sentiment, but the impact on fundamentals is limited given domestic liquidity.
What to Watch
- Monthly foreign flow data on HOSE for July and August 2026 to see if selling accelerates or stabilizes.
- Any large block trades in VIC or other Vingroup stocks that could signal a shift in foreign sentiment.
- Geopolitical developments, particularly US-Iran tensions, as a driver of risk appetite.
- Q2 2026 earnings reports for VIC, VHM, TCB, and VPB to assess fundamental performance.
- Changes in foreign ownership limits or regulatory policies that could affect foreign investor participation.