Vietjet (VJC) Draws VND 286B Proprietary Buy as Foreign Investors End 21-Session Selling Streak

Overview

On October 21, proprietary trading desks at Vietnamese securities firms net sold VND 139 billion on HOSE, concentrated in VCB, while Vietjet Air (VJC) attracted the largest net buying at VND 286 billion. Foreign investors returned to net buying of about VND 160 billion, ending a 21-session selling streak, and VN-Index closed up 2.76% at 1,738.67 points.

Key Facts

• VJC recorded proprietary net buying of VND 286 billion on October 21, the highest on HOSE.
• Proprietary desks net sold VND 139 billion market-wide, led by VCB at -VND 102 billion.
• Other proprietary net sells: KBC (-VND 100 billion), HPG (-VND 74 billion), TCB (-VND 68 billion), FPT (-VND 59 billion), MSB (-VND 42 billion), VIC (-VND 37 billion).
• Other proprietary net buys: VPB (VND 148 billion), PVT (VND 23 billion), KDH (VND 17 billion), GMD (VND 13 billion), CTG (VND 9 billion).
• Foreign investors net bought approximately VND 160 billion, ending 21 consecutive sessions of net selling.
• VN-Index rose 46.70 points (+2.76%) to 1,738.67, clearing the 1,700 psychological level.
• VJC closed at VND 128,000 on October 21; VCB closed at VND 56,400.

What Happened

Securities firms’ proprietary trading desks finished October 21 as net sellers of VND 139 billion on HOSE, according to market data reported by Nhip Song Thi Truong. The selling was heaviest in bank and industrial names: Vietcombank (VCB) at -VND 102 billion, Kinh Bac City (KBC) at -VND 100 billion, Hoa Phat Group (HPG) at -VND 74 billion, Techcombank (TCB) at -VND 68 billion and FPT Corporation (FPT) at -VND 59 billion.

On the buy side, Vietjet Air (VJC) drew VND 286 billion in net proprietary buying, more than double the next largest position, VPBank (VPB) at VND 148 billion. Smaller net buys included PVT (VND 23 billion), KDH (VND 17 billion) and GMD (VND 13 billion). Separately, foreign investors net bought roughly VND 160 billion, their first net buying session after 21 straight sessions of net selling. The article does not disclose the identity of the buying accounts or whether the VJC purchases were principal or hedging positions.

Market Context

VJC trades on HOSE and closed at VND 128,000 on October 21. The session was broadly risk-on: VN-Index opened higher, broke through the 1,700-point resistance level on improved liquidity, and accelerated in the afternoon to close at 1,738.67, up 46.70 points. The reversal in foreign flows is the more consequential signal for a market that had absorbed three weeks of sustained offshore selling, and proprietary desks rotated out of large-cap banks and industrials into aviation, banking and mid-cap logistics names.

Strategic Significance

For long-term investors, the VJC buying stands out because proprietary desks rarely concentrate VND 286 billion in a single airline stock without a directional view. Vietjet sits at the intersection of two themes the market is repricing: a recovery in international travel capacity and the funding needs of its fleet-expansion program. The simultaneous foreign-flow reversal suggests the October selling pressure was positioning-driven rather than a change in the foreign ownership thesis on Vietnamese equities. The offsetting VCB selling indicates rotation rather than broad de-risking, which matters for how sustainable the index move above 1,700 proves to be.

What to Watch

• Daily foreign net flow data on HOSE to confirm the October 21 reversal extends beyond a single session.
• VJC proprietary position disclosures and whether the VND 286 billion buy is maintained or unwound in subsequent sessions.
• VCB and banking-sector foreign and proprietary flows, given the VND 102 billion proprietary sell.
• VN-Index holding above the 1,700 level on sustained liquidity.
• Vietjet’s next quarterly earnings release and any fleet-financing announcements.