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Proprietary trading desks at securities companies net bought 460 billion VND on HOSE on July 22, when VN-Index fell 62 points. Techcombank (TCB) was the most bought stock at 235 billion VND, while foreign investors net sold 1,921 billion VND across the market.

Investor cash deposits at securities companies fell 25.9% QoQ to VND 86.6 trillion in Q2 2026, the lowest in four quarters, as high deposit rates (up 254 bps for Tier-1 banks) reduced cash available for stock buying. Margin debt rose 8.1% QoQ to over VND 446 trillion, indicating high leverage.

Phu Tho Tourist (DSP) posted a Q2/2026 net loss of nearly 6B VND, bringing accumulated losses to over 400B VND, despite holding 555B VND in cash and investments. The core business remains unprofitable, with cost of goods sold exceeding revenue by 31%, and the company relies on financial income to narrow losses.

DSP, operator of Dam Sen Park, posted a Q2 net loss of nearly 6 billion VND, bringing accumulated losses to over 400 billion VND. Revenue rose 5% but costs exceeded total income, primarily due to land lease expenses.

Margin debt at Vietnamese securities companies hit a record VND 446 trillion by end-June 2026, up 8.1% QoQ, with leverage rising despite a 54% drop in average daily trading volume. Analysts warn that tight liquidity and rising rates may keep valuations low.

GMD saw VND 300 billion in net buying from proprietary trading desks on July 20, the largest single-stock inflow, as VN-Index dropped 43.94 points. The buying partially offset foreign net selling of VND 86 billion across the market, signaling domestic institutional support for select blue chips.

STB was the most sold stock by proprietary trading desks on July 17, with net selling of VND 78 billion, as part of a broader VND 479 billion sell-off by proprietary desks on HOSE. Foreign investors also net sold approximately VND 690 billion across the market, adding to selling pressure on Vietnamese equities.