Foreign Investors Net Sell 735B VND on Aug 18; VIC, VPB, SSI Lead

Overview

Foreign investors extended their net selling streak on August 18, offloading approximately 735 billion VND (~29.4 million USD) of Vietnamese equities across all three exchanges. The sell-off was led by Vingroup (VIC), VPBank (VPB), and SSI Securities (SSI) on HOSE, even as the VN-Index managed a modest gain of 4.5 points to close at 1,732. The continued foreign outflow underscores persistent risk-off sentiment among international investors, despite a slight uptick in the benchmark index.

Key Facts

• Foreign investors net sold approximately 735 billion VND (~29.4 million USD) across the entire market on August 18.
• On HOSE, foreign net selling reached 767 billion VND, with VIC leading at 151 billion VND, followed by VPB (117 billion VND) and SSI (65 billion VND).
• On HNX, foreign investors were net buyers of 7 billion VND, with PVS seeing the largest net purchase at 4 billion VND; SHS was the top net sell at 5 billion VND.
• On UPCOM, foreign investors net bought 25 billion VND, with MSR attracting 19 billion VND; QNS was the largest net sell at 2 billion VND.
• VN-Index closed at 1,732 points, up 4.5 points, but trading value remained low at just over 11,000 billion VND.
• Foreign investors bought FUESSVFL most on HOSE (61 billion VND), followed by VNM (30 billion VND) and CTR (16 billion VND).

What Happened

The Vietnamese stock market experienced a volatile session on August 18, with the VN-Index rising more than 20 points in the morning before paring gains into the close. The index ultimately finished up 4.5 points at 1,732, but liquidity stayed subdued with matched order value of just over 11,000 billion VND. According to the article, foreign trading was a drag, as they net sold approximately 735 billion VND of shares across the market.

On HOSE, foreign investors net sold 767 billion VND. The most heavily sold stock was VIC, with net selling of 151 billion VND, followed by VPB (117 billion VND) and SSI (65 billion VND). On the buying side, FUESSVFL led with net purchases of 61 billion VND, followed by VNM (30 billion VND) and CTR (16 billion VND). On HNX, foreign investors were net buyers of 7 billion VND, with PVS seeing the largest net purchase at 4 billion VND; SHS was the top net sell at 5 billion VND. On UPCOM, foreign investors net bought 25 billion VND, with MSR attracting 19 billion VND; QNS was the largest net sell at 2 billion VND.

Market Context

VIC closed at 200,000 VND on August 18 on HOSE, unchanged from the prior session, despite being the top foreign sell. VPB closed at 24,900 VND, SSI at 19,500 VND, and VNM at 62,100 VND. The foreign selling pressure comes amid a broader trend of net outflows from Vietnamese equities, as international investors have been reducing exposure in recent sessions. The VN-Index’s modest gain on August 18 was not enough to offset the persistent foreign selling, and liquidity remained thin, suggesting cautious domestic participation as well.

Strategic Significance

The continued foreign net selling, particularly in blue-chip names like VIC, VPB, and SSI, signals that international investors are still wary of Vietnamese equities, possibly due to global macroeconomic uncertainties or valuation concerns. For VIC, the large net sell of 151 billion VND in a single session highlights foreign investors’ reduced appetite for the conglomerate’s shares, which could weigh on its near-term price performance. However, the fact that VIC’s price held steady suggests domestic buyers are absorbing the supply. Long-term investors should monitor whether this foreign outflow persists, as it could indicate a broader shift in sentiment toward Vietnamese assets, potentially affecting liquidity and valuations across the market.

What to Watch

• Subsequent sessions’ foreign net flow data to see if the selling pressure continues or reverses.
• VIC’s trading volume and price action over the next few weeks to gauge domestic demand.
• Any regulatory or policy announcements that might influence foreign investor sentiment, such as changes in foreign ownership limits or market upgrades.
• Q2 earnings reports from VIC, VPB, SSI, and VNM to assess fundamental performance amid foreign selling.
• Global market developments, particularly US Federal Reserve policy signals, that could impact capital flows into emerging markets like Vietnam.