Vietnam Foreign Flow: VIC, STB, TCB Lead VND 714B Net Sell on October 15

Overview

Foreign investors net sold VND 714 billion across Vietnam’s three exchanges on October 15, with Vingroup’s VIC bearing the largest single-stock outflow on HOSE at VND 135 billion. Sacombank’s STB and Techcombank’s TCB followed at VND 131 billion and VND 96 billion respectively, while MBB, VPB and PVT attracted the largest net purchases. The session extended a run of muted liquidity and left the VN-Index below the 1,700-point threshold.

Key Facts

• Foreign investors net sold VND 714 billion across HOSE, HNX and UPCoM on October 15.
• HOSE accounted for VND 688 billion of the net selling; HNX saw VND 25 billion and UPCoM VND 1 billion.
• VIC (Vingroup, HOSE) led net selling at VND 135 billion, followed by STB at VND 131 billion and TCB at VND 96 billion.
• MBB topped the net-buy list at VND 101 billion, with VPB at VND 53 billion and PVT at VND 50 billion.
• Other net buys included SHB (VND 42B), CII (VND 37.1B), SSI (VND 24B), VRE (VND 21B) and FPT (VND 15B).
• On HNX, CEO led net selling at VND 16.4 billion, while IDC led net buying at VND 8.5 billion.
• The VN-Index closed down nearly 7 points at 1,698, with HoSE matching value around VND 14,000 billion.

What Happened

The October 15 session was reported as another subdued day for Vietnamese equities. The VN-Index fell close to 7 points to 1,698, giving up the psychological 1,700 level, while matched-order value on the HoSE stayed low at roughly VND 14,000 billion. Against that backdrop, foreign investors sold a net VND 714 billion across the three exchanges, according to the session summary.

On HOSE, foreign net selling reached VND 688 billion. Vingroup’s VIC was the single largest net-sold name at VND 135 billion, followed by Sacombank’s STB at VND 131 billion and Techcombank’s TCB at VND 96 billion. On the buy side, Military Commercial Joint Stock Bank’s MBB led at VND 101 billion, with VPB at VND 53 billion and PVT at VND 50 billion. Additional net buying was recorded in SHB, CII, SSI, VRE and FPT. On HNX, foreign investors net sold VND 25 billion, concentrated in CEO, PVS and SHS, partly offset by net buying in IDC and MBG. UPCoM saw a marginal VND 1 billion net sell, with VEA the largest net-sold name and DRI the largest net buy.

Market Context

VIC closed at VND 218,000 on October 15, STB at VND 62,800, TCB at VND 32,900 and MBB at VND 19,900. The outflow was broad but shallow relative to HoSE turnover of roughly VND 14,000 billion, and it clustered in large-cap VN30 names rather than spreading evenly across the market. The pattern is consistent with foreign investors trimming index-heavy real estate and bank exposure while rotating into select banks and logistics names, a rotation that has characterised recent sessions as the VN-Index struggles to hold the 1,700 level.

Strategic Significance

For long-term investors, the composition of the flow matters more than the headline number. VIC’s position as the largest net-sold stock reflects continued foreign caution on Vietnam’s largest real-estate-and-conglomerate platform, where valuation and capital-allocation questions have weighed on sentiment. The simultaneous buying in MBB and VPB suggests foreign money is not exiting Vietnamese banks wholesale but is discriminating between lenders on asset quality and growth outlook. The VND 714 billion net sell is modest against daily HoSE turnover, so it reads as portfolio rebalancing rather than a directional exit from Vietnamese equities.

What to Watch

• Daily foreign net-flow data on HOSE, HNX and UPCoM to see whether the VIC, STB and TCB selling persists or reverses.
• VN-Index behaviour around the 1,700 level and whether HoSE matching value recovers above VND 14,000 billion.
• Foreign-ownership room and block-trade filings in VIC, STB and TCB for signs of institutional repositioning.
• Third-quarter earnings releases from the banks in the net-buy list (MBB, VPB, SHB) and from Vingroup entities.
• Any SBV policy signals or macro data that could shift foreign appetite for Vietnamese large caps.