VPB Leads Proprietary Desk Net Buying as Foreign Investors Sell VND 2,668B on HOSE

Overview

Securities companies’ proprietary trading desks net bought VND 267 billion on HOSE on October 6, with VPBank (VPB) the single largest accumulation at VND 81 billion. The session’s offsetting signal was foreign net selling of roughly VND 2,668 billion across the market, even as the VN-Index closed up 5.88 points (+0.34%) at 1,759.08.

Key Facts

• Proprietary desks net bought VND 267 billion on HOSE on October 6.
• VPB led net buying at VND 81 billion, followed by VIC (VND 37 billion), FPT (VND 31 billion), VCB (VND 30 billion) and MWG (VND 27 billion).
• BID and LPB each saw VND 25 billion in net proprietary buying; HPG VND 22 billion, STB VND 16 billion and KDH VND 15 billion.
• On the sell side, SSI led net selling at VND 30 billion, followed by VBB (-VND 27 billion), NAB (-VND 25 billion), TCB (-VND 16 billion) and MBB (-VND 12 billion).
• Foreign investors net sold approximately VND 2,668 billion of equities market-wide.
• The VN-Index rose 5.88 points (+0.34%) to 1,759.08, recovering from an intraday low near 1,735 points.
• VPB closed at VND 23,200 on October 6; VIC at VND 232,000, FPT at VND 60,400 and VCB at VND 57,300.

What Happened

Trading opened weakly on October 6, with several stock groups under selling pressure and the main index sliding to around 1,735 points. Demand at lower prices improved through the afternoon, liquidity recovered, and the VN-Index finished the day higher at 1,759.08. The recovery was broad enough to lift the index despite heavy foreign outflows.

Proprietary desks at securities firms were net buyers on HOSE to the tune of VND 267 billion, concentrating on large-cap banking and conglomerate names. VPB drew the largest single net purchase at VND 81 billion, with VIC, FPT, VCB and MWG rounding out the top five. The sell side was dominated by SSI, VBB, NAB, TCB and MBB. The article attributes the flow data to session statistics published by the exchange and market data providers; no company filing or regulatory announcement is cited.

Market Context

VPB trades on HOSE and closed at VND 23,200 on October 6, a level that keeps it among the more liquid bank counters on the exchange. The proprietary buying in VPB, VCB, BID and LPB sits within the banking sector, which remains the largest weight in the VN-Index and the primary channel for foreign portfolio flows. The session’s split between domestic proprietary accumulation and foreign net selling of VND 2,668 billion is the defining feature of the tape: index-level gains were achieved against a substantial offshore supply overhang.

Strategic Significance

For long-term investors, the relevant signal is not the single-session VND 81 billion in VPB proprietary buying but the direction of the two dominant flow cohorts. Proprietary desks at Vietnamese securities firms tend to trade with shorter horizons and can amplify momentum, while foreign flows are a better proxy for medium-term valuation views on Vietnamese banks. A persistent divergence, with domestic desks absorbing what foreign accounts sell, would suggest that local institutions see value in bank valuations near current levels even as offshore mandates reduce exposure. VPB’s position at the top of the buy list also reflects its standing as a high-beta, high-liquidity proxy for the banking sector in periods of index recovery.

What to Watch

• Daily foreign net flow figures on HOSE to see whether the VND 2,668 billion outflow is a single-session event or the start of a trend.
• Whether proprietary desks continue accumulating VPB and other banks over the following sessions, or rotate back to the SSI, TCB and MBB names they sold.
• VPB’s ability to hold the VND 23,200 close and the broader VN-Index’s defense of the 1,735-point intraday low.
• Third-quarter earnings disclosures from HOSE-listed banks, which will test the domestic accumulation thesis.
• Foreign-ownership room and block-trade activity in VPB, which often accompany large offshore selling phases.