Foreign Net Selling Eases to VND 2,469B on Vietnam Stocks; VIC Leads Buys

Overview

Foreign investors net sold VND 2,469 billion (approximately USD 98.76 million) on the Vietnamese stock market during the week of July 6-10, a significant reduction from the prior week’s selling pressure. Vingroup (VIC) was the top net buy, while Masan Group (MSN) led net selling, highlighting divergent foreign positioning across real estate and consumer sectors.

Key Facts

• Foreign net selling totaled VND 2,469 billion across all three exchanges.
• On HoSE, foreign investors net sold VND 2,381 billion; on HNX, net sold VND 102 billion; on UPCoM, net bought VND 14 billion.
• VIC led net buying with VND 627 billion, followed by VNM (VND 434 billion), MBB (VND 121 billion), and HDB (VND 108 billion).
• MSN led net selling with VND 485 billion, followed by VHM (VND 441 billion), PNJ (VND 273 billion), VPB (VND 253 billion), and TCB (VND 226 billion).
• Other notable net sold stocks: SHB (VND 178 billion), SSI (VND 143 billion), FPT (VND 134 billion), HPG (VND 109 billion), STB (VND 104 billion), and DCM (VND 98 billion).
• VN-Index fell 33.74 points (-1.81%) week-on-week to close at 1,828.37 points.

What Happened

Foreign investors continued their net selling streak on the Vietnamese stock market in the week of July 6-10, but the pace slowed considerably compared to the prior week. According to exchange data, total net selling reached VND 2,469 billion, driven by heavy outflows from HoSE-listed stocks. The selling pressure was most intense at the start of the week, but a large block trade on the final session helped reduce the weekly total.

On the buying side, Vingroup (VIC) was the standout, attracting net purchases of VND 627 billion, far ahead of other stocks. VNM, MBB, and HDB also saw notable net buying. Conversely, MSN was the most sold stock, with net outflows of VND 485 billion, followed by VHM, PNJ, VPB, and TCB. The divergence suggests foreign investors are rotating out of consumer and retail names into real estate and banking.

Market Context

The week’s foreign selling occurred against a backdrop of a declining VN-Index, which lost 1.81% to close at 1,828.37 points. VIC, listed on HoSE, closed at VND 223,000 (+0.90%) on July 10, while VNM closed at VND 56,600 (+1.62%). MBB and HDB also posted mixed performances. The net selling total of VND 2,469 billion is lower than the prior week, indicating a potential easing of foreign outflow pressure, though the trend remains negative.

Strategic Significance

The concentrated foreign buying in VIC suggests renewed institutional interest in Vietnam’s largest private conglomerate, possibly linked to its expanding ecosystem in real estate, automotive, and technology. The heavy selling in MSN and VHM (a Vingroup subsidiary) may reflect profit-taking or sector rotation. The overall net selling trend, while moderating, continues to weigh on market sentiment and liquidity, particularly for large-cap stocks. Foreign ownership limits and regulatory changes remain key factors for long-term capital flows.

What to Watch

• Weekly foreign flow data for the next several weeks to confirm if selling pressure is abating.
• Q2 2026 earnings reports for VIC, MSN, and other heavily traded stocks.
• Any block trades or large negotiated transactions that could shift foreign positioning.
• Policy announcements from the State Securities Commission regarding foreign ownership limits.
• VN-Index technical levels around 1,800 and 1,850 as support and resistance.