Real Estate and Steel Stocks Lead Capital Flows in Vietnam Market Week April 13-17

Overview

In the trading week of April 13-17, Vietnam’s stock market saw improved liquidity with the VN-Index rising nearly 4% to 1,817 points. Capital flows concentrated heavily in real estate and steel stocks, led by Vingroup tickers (VIC, VRE, VHM, VPL) and steel companies (HSG, TLH, NKG, VGS). Conversely, financial and oil & gas stocks experienced notable outflows.

Key Facts

• VN-Index increased by nearly 4% to 1,817 points; HNX-Index rose 3.2% to 260 points.
• HOSE average daily trading value rose 3% to VND 25.1 trillion, but volume fell 2% to 892 million shares per session.
• HNX average daily volume and value increased 8% and 6.5%, respectively, to 86 million shares and VND 1.55 trillion.
• VIC’s average daily trading volume doubled week-on-week to 5.7 million shares.
• VRE volume surged 90%, VHM volume increased 70%, and VPL volume rose 46%.
• Steel stocks HSG, TLH, NKG, and VGS were among the top liquidity gainers on both exchanges.
• Financial stocks (TCX, TCI, FTS, VFS, MBS, BVS) saw trading volume drop 20-60% week-on-week.
• Oil & gas stocks ASP, PVS, PPT, PVC, PLC were among the top liquidity decliners.

What Happened

According to market data for the week of April 13-17, the Vietnamese stock market experienced a mild improvement in liquidity, with the VN-Index gaining nearly 4% to close at 1,817 points. Capital flows were highly sector-specific, with real estate and steel stocks attracting significant buying interest, while financial and oil & gas stocks saw capital outflows.

Among real estate stocks, the Vingroup group was a standout: VIC’s trading volume doubled to 5.7 million shares per session, VRE volume jumped 90%, VHM volume increased 70%, and VPL volume rose 46%. Other real estate stocks such as VPI, CRE, AAV, IDC, and CEO also saw increased liquidity. In the steel sector, HSG, TLH, NKG, and VGS were among the top gainers in trading volume on both HOSE and HNX.

Market Context

Vingroup stocks (VIC, VRE, VHM, VPL) have been among the most actively traded names on HOSE. As of April 15, VIC closed at VND 177 (+6.95%), VHM at VND 138 (+6.83%), and VRE at VND 28 (+1.79%). The strong volume surge in these tickers suggests renewed investor interest in the real estate sector, which has been under pressure from regulatory changes and rising interest rates. The steel sector, meanwhile, benefits from infrastructure spending and export demand.

Strategic Significance

The rotation of capital into real estate and steel stocks, and out of financials and oil & gas, indicates a shift in market sentiment toward cyclical sectors tied to domestic economic recovery and infrastructure investment. Vingroup’s diversified conglomerate structure, spanning real estate, retail, and technology, makes its stocks a proxy for Vietnam’s consumption and urbanization story. The steel sector’s performance is closely linked to construction activity and public investment. The outflows from financials may reflect profit-taking after a strong run or concerns about credit growth and net interest margins.

What to Watch

• Upcoming Q1 2026 earnings reports for VIC, VRE, VHM, and steel companies to confirm fundamental support for the price moves.
• Continuation of liquidity trends: whether real estate and steel stocks maintain elevated volumes in subsequent weeks.
• Policy developments: any new regulations on real estate or steel exports that could affect sector outlook.
• Foreign investor flows: whether foreign institutions increase or decrease holdings in these sectors.
• Macro data: GDP growth, PMI, and credit growth figures for Q1 2026 to gauge economic momentum.