Vietnam Foreign Flows Turn Positive: VIC Leads VND 393B Net Buy Ahead of FTSE Upgrade

Overview

Foreign investors returned to net buying on 10 September, purchasing roughly VND 393 billion (~USD 15.7 million) across all three exchanges after three consecutive net-selling sessions. VIC led the inflows at nearly VND 249 billion, followed by FPT at close to VND 220 billion, while VHM was the heaviest net-sold name at almost VND 291 billion. The VN-Index closed up 0.12% at 1,829 points, holding below the 1,850 resistance band as the market awaits a potential FTSE Russell classification upgrade.

Key Facts

• Foreign investors net bought approximately VND 393 billion (~USD 15.7 million) across all three exchanges on 10 September, ending three straight net-selling sessions.
• Total foreign buy value reached roughly VND 1,910 billion against VND 1,555 billion in sales.
• VIC recorded the largest net inflow at nearly VND 249 billion; FPT followed at close to VND 220 billion.
• SBT drew more than VND 96 billion in net buying and DGW nearly VND 85 billion; HPG added more than VND 41 billion.
• VHM was the largest net-sold name at almost VND 291 billion, followed by CTG (over VND 74 billion), HDB (nearly VND 39 billion), VND (nearly VND 38 billion) and MBB (nearly VND 25 billion).
• VN-Index closed at 1,829 points, up 0.12%, after trading below 1,815 intraday and briefly gaining more than 7 points.
• Total turnover across the three exchanges reached about VND 14,516 billion, down nearly 7% session-on-session.

What Happened

The session, reported by Tien Phong, showed a market caught between two forces. The VN-Index dipped below 1,815 points before reversing to gain more than 7 points, but the rally faded into the close, leaving the benchmark at 1,829 points, up 0.12%. Liquidity thinned, with three-exchange turnover of roughly VND 14,516 billion, down nearly 7% from the prior session.

Foreign flow was the clearest positive signal. After three consecutive net-selling sessions, overseas investors turned net buyers at about VND 393 billion, with gross purchases of roughly VND 1,910 billion against VND 1,555 billion of sales. VIC, FPT, SBT and DGW attracted the strongest inflows, while VHM, CTG, HDB, VND and MBB were net sold. DGW stood out individually, rising 6.9% to VND 44,750 on more than 5 million shares traded, over five times the previous session’s volume and its highest price since April 2026.

Market Context

VIC trades on HOSE at VND 247,700 as of 10 September, with FPT at VND 74,500, SBT at VND 23,050 and DGW at VND 44,750. The foreign bid returned to large-cap real estate and technology names even as the index struggled to clear 1,850 points, suggesting selective accumulation rather than broad risk-on buying. Banking stocks remained split, with VCB, VPB and STB higher while MBB, CTG, ACB and HDB slipped. The divergence between positive foreign flow and flat index performance is characteristic of a market waiting for a catalyst, in this case the anticipated FTSE Russell upgrade.

Strategic Significance

For long-term investors, the return of foreign net buying in VIC and FPT matters less for its one-day size than for what it signals about positioning ahead of a possible emerging-market reclassification. If FTSE Russell confirms an upgrade, passive funds tracking the index would need to build exposure to large, liquid HOSE names, and VIC’s status as the largest net-buy target in this session suggests foreign desks are already pre-positioning in the most index-relevant real estate and technology tickers. The persistent net selling in VHM, CTG and MBB indicates the flow is not indiscriminate: investors are differentiating within sectors rather than buying the whole market, which argues for stock-level selection over beta exposure as the upgrade theme develops.

What to Watch

• FTSE Russell’s classification decision and any accompanying effective-date announcement for Vietnam’s reclassification.
• Whether foreign net buying extends beyond a single session, particularly in VIC and FPT, to confirm a trend rather than a one-day reversal.
• VN-Index behaviour around the 1,850-point resistance zone; a sustained break would validate the flow signal.
• Continued net-selling pressure in VHM, CTG, HDB, VND and MBB, which would offset gains elsewhere in the foreign-flow ledger.
• DGW’s follow-through after its 6.9% jump to VND 44,750 on five-times-average volume, and whether the move reflects fundamental news or short-term positioning.