VIC Leads Foreign Net Selling on HOSE as Market Offloads VND 641B

Overview

Foreign investors net sold approximately VND 641 billion of Vietnamese equities on October 30, with Vingroup (VIC) on HOSE leading redemptions at VND 353 billion. Techcombank (TCB) and Military Commercial Joint Stock Bank (MBB) followed at VND 133 billion and VND 43 billion respectively, while Vinhomes (VHM), Vietcombank (VCB) and Vietjet (VJC) attracted net buying. The session coincided with a 14-point decline in the VN-Index to 1,741.

Key Facts

• Market-wide foreign net selling reached roughly VND 641 billion on October 30.
• On HOSE, foreign investors net sold VND 633 billion; VIC alone accounted for VND 353 billion.
• TCB saw net selling of VND 133 billion and MBB VND 43 billion on HOSE.
• VHM led HOSE net buying at more than VND 69 billion, followed by VCB at VND 37 billion and VJC at VND 31 billion.
• On HNX, foreign investors net bought VND 5 billion, with PVS the largest net-sold name at VND 11 billion.
• On UPCOM, foreign investors net sold VND 13 billion, led by QNS at VND 13 billion.
• The VN-Index closed at 1,741 points, down 14 points, with HOSE turnover above VND 14,600 billion.

What Happened

Foreign trading was the weak spot in an otherwise volatile final session of the week, according to the market recap. On HOSE, the net-sell figure of VND 633 billion was dominated by VIC, which alone accounted for more than half of the exchange’s outflows at VND 353 billion. TCB and MBB followed, reflecting continued foreign caution toward large-cap banks and property names.

The buying side was concentrated in property and financial blue chips. VHM drew more than VND 69 billion in net purchases, with VCB and VJC adding VND 37 billion and VND 31 billion. On HNX, TNG and CEO led net buying at VND 7 billion and VND 4.5 billion, while PVS saw VND 11 billion of net selling. On UPCOM, QNS was the largest net-sold name at VND 13 billion. The article does not disclose the identity of the selling or buying institutions.

Market Context

VIC on HOSE closed at VND 241,000 on October 30, the highest price among the affected tickers, making it the most capital-intensive name in the foreign sell basket. TCB closed at VND 21,600, MBB at VND 19,300 and VHM at VND 63,000. The VN-Index’s 14-point pullback to 1,741 came on turnover above VND 14,600 billion, indicating that the foreign outflow occurred against a backdrop of active domestic participation rather than thin liquidity.

Strategic Significance

The split between VIC selling and VHM buying is the notable signal. Both sit within the Vingroup ecosystem, so the rotation suggests foreign investors are trimming the parent holding company while retaining exposure to the residential developer. For long-term holders, VIC’s outsized share of HOSE outflows matters less as a verdict on the conglomerate’s auto, property and technology platforms than as evidence of how quickly index-heavy names absorb passive and active foreign rebalancing flows. The bank selling in TCB and MBB points to a broader de-risking in financials rather than a property-specific story.

What to Watch

• Daily foreign net flow data for VIC, TCB and MBB to see whether the selling persists into the following week.
• Whether VHM’s net buying continues, confirming an intra-group rotation rather than a broad property exit.
• HOSE turnover and VN-Index behaviour around the 1,741 level for signs of follow-through selling.
• Any foreign-ownership or block-trade filings from VIC or TCB that would explain the size of the outflows.
• QNS and PVS flow trends on UPCOM and HNX, where net-sell values were smaller but directionally consistent.