Foreign Investors Net Buy VND 386B on September 10, Accumulating VIC and FPT

Overview

Foreign investors net bought approximately VND 386 billion (about USD 15.4 million) of Vietnamese equities on September 10, with Vingroup (VIC) and FPT Corporation (FPT) capturing the bulk of the inflows. The buying was concentrated on HOSE, while Vinhomes (VHM), VietinBank (CTG) and HDBank (HDB) led the sell side. The session matters because it marks a rare net-buying day in a market where foreign flows have been persistently negative.

Key Facts

• Foreign investors net bought roughly VND 386 billion market-wide on September 10.
• On HOSE, net buying reached VND 355 billion; HNX saw net selling of VND 4 billion; UPCOM recorded net buying of VND 35 billion.
• VIC attracted VND 248 billion in net foreign buying, the largest single-name inflow on HOSE.
• FPT followed with VND 219 billion, meaning the two stocks together drew close to VND 500 billion.
• SBT and DGW were next on the buy side, at VND 96 billion and VND 94 billion respectively.
• VHM led net selling at VND 290 billion, ahead of CTG (VND 74 billion) and HDB (VND 39 billion).
• On HNX, PVS drew VND 15 billion in net buying while IDC saw VND 14 billion of net selling; on UPCOM, MSR attracted VND 32 billion.

What Happened

After an early-session wobble, the VN-Index recovered through the afternoon on support from large-cap names, though late profit-taking trimmed the gain to 2 points, closing at 1,829. Liquidity stayed thin, with total HOSE trading value of just over VND 13,000 billion. Against that backdrop, foreign flow was the session’s positive offset, according to market data compiled from the exchange trading boards.

On HOSE, VIC and FPT were the two most heavily accumulated names, at more than VND 248 billion and VND 219 billion respectively, followed by SBT at VND 96 billion and DGW at VND 94 billion. The sell side was dominated by VHM at VND 290 billion, with CTG and HDB next at VND 74 billion and VND 39 billion. On HNX, PVS led net buying at VND 15 billion, with smaller inflows into NVB, NTP and MBS, while IDC, SHS and VC3 were sold. On UPCOM, MSR drew VND 32 billion of net buying, ABB and DRI saw modest inflows, and ACV, NSL and PHP were net sold.

Market Context

VIC closed at VND 247,700 on September 10 on HOSE, with FPT at VND 74,500, SBT at VND 23,050 and DGW at VND 44,750. The concentration of foreign buying in VIC and FPT, two of the market’s largest and most liquid names, fits a pattern of index-weighted allocation rather than broad small-cap accumulation. The persistent selling in VHM, CTG and HDB suggests foreign desks are rotating within Vietnam rather than adding net exposure indiscriminately, a distinction that matters as the market approaches a potential FTSE Russell upgrade cycle.

Strategic Significance

For long-term investors, the session’s structure is more informative than its headline number. Foreign money is being deployed into VIC, a real estate and industrial conglomerate with EV and technology ambitions, and FPT, the country’s leading IT services exporter, while being withdrawn from VHM and two mid-tier banks. That implies foreign investors are paying for growth and export-linked earnings rather than domestic credit or residential property beta. If the pattern persists into the FTSE upgrade window, it would favor large-cap, foreign-ownership-room-available names over the bank-heavy portion of the index.

What to Watch

• Whether VIC and FPT sustain net foreign buying over the following five sessions, or whether September 10 was a single-day rebalancing event.
• Continued selling pressure in VHM, CTG and HDB, which would confirm a rotation rather than a broad inflow trend.
• HOSE liquidity, which at just over VND 13,000 billion remains below the levels typically associated with sustained foreign accumulation.
• FTSE Russell upgrade-related disclosures and any foreign-ownership room filings for VIC and FPT.
• Monthly foreign flow data for September, to test whether the VND 386 billion net-buy day reverses the multi-month selling trend.