Vietnam Foreign Net Selling Hits VND 1.57T as VN-Index Falls 3.12%

Overview

Foreign investors net sold VND 1,570.7 billion across Vietnam’s three exchanges in week 37/2026, equivalent to roughly USD 62.8 million, as the VN-Index fell 3.12% to 1,795.21 points. Real estate and banking led the decline, with Vingroup (VIC, HOSE) and Vinhomes (VHM, HOSE) the largest single contributors to the index drop. The selling ended a three-week rally and pushed the benchmark back below the 1,800-point level.

Key Facts

• VN-Index closed week 37/2026 at 1,795.21 points, down 57.87 points or 3.12% week-on-week, ending a three-week winning streak.
• Foreign investors net sold VND 1,570.7 billion across all three exchanges; on matched-order basis alone, net selling was VND 1,569.2 billion.
• Real estate contributed a net -24.0 points to the VN-Index, led by VIC (-16.4 points) and VHM (-4.3 points).
• Banking subtracted a further 14.6 points, with LPB (-3.4), MBB (-2.2), TCB (-2.1), VPB (-2.0) and SHB (-1.1) the largest drags; SSB (+0.9 points) was the only significant positive bank.
• HOSE average matched-order value fell 10.70% week-on-week to VND 12,676 billion per session, 10.76% below the five-week average.
• Foreign top net buys on matched orders included FPT, HPG, VIC, TCB and BSR; top net sells included VHM, STB, VCB, CTG and MBB.
• Proprietary trading net sold VND 663.7 billion, or VND 426.2 billion on matched orders, with VIX, MCH, MBB, ACB and HPG the largest sells.

What Happened

The State Securities Commission-aligned weekly market review showed the correction intensifying into the weekend, concentrated in large-cap real estate, banking and financial services. Real estate was the single largest source of pressure at -24.0 points, with VIC alone accounting for -16.4 points and VHM a further -4.3 points. Banking took out another 14.6 points, and 15 bank tickers weighed on the index against only one meaningful positive contributor, SSB at +0.9 points. Financial services added -6.1 points, with VCI and VIX each removing about 1.1 points, SSI -0.9 and VND -0.8.

The decline broadened beyond those core sectors. Food and beverage (-2.1 points), retail (-1.6), industrial goods and services (-1.3) and basic resources (-1.1) all dragged the index lower. On the positive side, DGC (+1.2 points) was the single best contributor, followed by SSB (+0.9), VPL (+0.7), DGW (+0.3), PVT (+0.3) and BSR (+0.2). Chemicals (+1.2 points) and travel and entertainment (+0.6) were the only sectors posting positive net contributions. Foreign investors bought information technology and basic resources on a matched-order basis, and sold banking and real estate.

Market Context

VIC closed at 242 on 14 September 2026, down 0.58% on light volume of 63,000 shares, while VHM closed at 72, down 0.56% on 301,600 shares. LPB stood at 46,700 and MBB at 19,750 as of 13 September. The VN-Index’s failure to hold 1,800 points came alongside shrinking turnover, a combination that signals weak domestic demand rather than panic liquidation. The article notes that falling prices with contracting liquidity reduces the market’s ability to absorb supply when selling pressure rises, a pattern most visible in the final session of the week.

Strategic Significance

For long-term investors, the week’s data points to a market where foreign flow, not domestic conviction, is setting the marginal price in large-cap real estate and banking. VIC and VHM together accounted for roughly 20.7 points of the 57.87-point index decline, meaning the Vingroup complex is currently the dominant transmission channel for foreign risk reduction. The offsetting foreign bids in FPT, HPG and BSR suggest the selling is selective rather than a blanket Vietnam exit, which matters for how the correction should be read: this looks like rotation out of rate-sensitive property and bank exposure rather than a broad de-rating of Vietnamese equities.

What to Watch

• Daily foreign net flow figures on HOSE, HNX and UPCOM for week 38/2026 to see whether the VND 1.57 trillion weekly outflow pace persists or reverses.
• VIC and VHM matched-order volumes, given VIC’s unusually thin 63,000-share session on 14 September.
• Whether HOSE average matching value recovers above the five-week average of roughly VND 14,200 billion per session.
• Foreign matched-order positioning in FPT, HPG and BSR, which have absorbed buying against the broader sell-off.
• Any Vingroup or Vinhomes corporate disclosure, including buyback or issuance filings, that would change the free-float supply picture.