Vietnam Foreign Flow Oct 29: VPB, HPG Net Bought as Market Sells VND 430B

Overview

Foreign investors extended their selling streak on October 29, net selling about VND 430 billion across Vietnam’s three exchanges, with HoSE accounting for VND 459 billion of that outflow. VPBank (VPB) on HOSE topped the net-buy list at roughly VND 83 billion, while TCB and FPT drew the largest net sales. The session closed with the VN-Index down 11 points at 1,756 and HoSE matched-order value of just VND 12,680 billion.

Key Facts

• Market-wide foreign net selling on October 29 was approximately VND 430 billion, equivalent to about USD 17.2 million.
• HoSE recorded foreign net selling of VND 459 billion; HNX saw net buying of VND 27 billion and UPCoM net buying of VND 2.5 billion.
• VPB led net buying at about VND 83 billion, followed by HPG at more than VND 63 billion and SHB at roughly VND 43 billion.
• VCB and ACB each saw net buying of about VND 21 billion.
• TCB was sold most heavily at about VND 118 billion, with FPT close behind at nearly VND 115 billion and SSI at nearly VND 79 billion.
• VHM and VPL were net sold about VND 65 billion and VND 61 billion respectively.
• The VN-Index closed down 11 points at 1,756, with HoSE matched-order value of VND 12,680 billion.

What Happened

Vietnamese equities traded in negative territory for most of the October 29 session, and the VN-Index finished 11 points lower at 1,756. Liquidity was thin, with HoSE matched-order value reaching only VND 12,680 billion, according to the session recap. Foreign investors remained net sellers overall, offloading about VND 430 billion market-wide, concentrated in a VND 459 billion net-sell figure on HoSE that was partly offset by net buying of VND 27 billion on HNX and VND 2.5 billion on UPCoM.

On HoSE, the buying side was led by VPBank (VPB) at roughly VND 83 billion, followed by Hoa Phat Group (HPG) at more than VND 63 billion and SHB at about VND 43 billion, with VCB and ACB each attracting around VND 21 billion. The selling side was dominated by Techcombank (TCB) at about VND 118 billion and FPT at nearly VND 115 billion, with SSI at nearly VND 79 billion, VHM at about VND 65 billion and VPL at about VND 61 billion. On HNX, PPE drew about VND 40 billion in net buying, ahead of IDC at VND 7.6 billion, SHS at more than VND 6 billion, MBS at more than VND 2 billion and CEO at about VND 1.3 billion, while PVS was net sold nearly VND 29 billion. On UPCoM, DRI led net buying at about VND 7.6 billion, while MSR saw the heaviest net selling at about VND 3.1 billion and VGT at VND 2.4 billion.

Market Context

VPB, listed on HOSE, closed at 23,200 on October 29 and was the single largest foreign net-buy target of the session, a notable reversal of the broader pattern in which banking names were split between buyers and sellers. HPG closed at 21,200, SHB at 10,700 and VCB at 57,200, all on HOSE. The session’s weak breadth, with the VN-Index down 11 points and matched-order value at only VND 12,680 billion, points to cautious domestic participation alongside persistent foreign net selling, a combination that has characterized recent sessions.

Strategic Significance

For long-term investors, the split within banking is the more informative signal than the headline net-sell figure. Foreign money added to VPB, SHB, VCB and ACB while withdrawing from TCB, suggesting allocation is rotating toward banks with clearer capital or valuation stories rather than exiting the sector wholesale. The simultaneous net buying in HPG indicates steel is being treated as a cyclical hedge alongside financials. Persistent net selling in FPT and SSI, two of the market’s most liquid growth and brokerage names, implies foreign investors are trimming high-beta exposure into thin liquidity rather than abandoning Vietnam outright.

What to Watch

• Daily foreign net-flow data on HoSE, HNX and UPCoM to see whether the VND 430 billion outflow extends into a sustained streak.
• Whether VPB net buying persists across consecutive sessions or proves a single-session rebalancing event.
• HoSE matched-order value, which at VND 12,680 billion is well below recent averages and signals fragile domestic demand.
• Further foreign selling in TCB and FPT, which would test whether the rotation is sector-specific or broad de-risking.
• Any disclosure of large block or foreign-ownership-limit transactions in the affected banking tickers.