BVS

Foreign investors net bought nearly VND 1,400 billion on HoSE on July 10, driven by a massive VND 1,600 billion purchase in VIC. Excluding VIC, the group still net sold hundreds of billions. Net selling was seen on HNX and net buying on UPCoM.

BVS and PSI each fined VND 125 million by the State Securities Commission for allowing clients to trade on margin exceeding purchasing power in July 2024. The fines underscore regulatory tightening as Vietnam approaches a potential FTSE Russell emerging market upgrade in September 2026, with margin-to-equity ratios at BVS (180%) and PSI (209%) nearing the 200% cap.

Foreign investors net sold VND 2,094 billion (USD 83.8 million) on May 25, with MSB alone accounting for over VND 1,500 billion in net selling. The selling pressure was broad-based, affecting HPG, ACB, FPT, and KDH, while net buying was concentrated in MSN, HDB, VIC, VCB, and VHM.

In the first week of May, the VN-Index set a new record high of 1,915.37 points, up 3.3%, driving a sharp rotation into securities stocks. VDS saw trading volume jump nearly 120% and ORS nearly 100%, while real estate and steel stocks experienced declining liquidity. The shift highlights investor preference for brokerages during the index rally.

Securities stocks rallied on May 6 after news that Vietnam may be added to the MSCI Watchlist in June 2026, a precursor to Emerging Markets status. VIX and HCM hit ceiling prices, while SSI, SHS, BVS, VND, TCI also gained over 4%. The upgrade could attract 4-5x more foreign capital, structurally benefiting brokerage and margin lending income.

VIX and HCM hit ceiling as a broad securities rally drove VN-Index up 0.87% on rumors that five companies received approval to open a tokenized asset exchange. The sector saw massive volume, with VIX and SSI among the top five most traded stocks on HoSE. The move reflects speculative sentiment rather than fundamental catalysts, but the breadth and liquidity confirm strong short-term buying pressure.

Vingroup stocks (VIC, VRE, VHM, VPL) and steel names (HSG, TLH, NKG, VGS) attracted strong capital flows in the week of April 13-17, with VIC trading volume doubling. Meanwhile, financial and oil & gas stocks experienced significant outflows, reflecting sector rotation.

The combined market share of Vietnam's top 10 brokerages on HoSE dropped to 65.19% in Q2 2026, the lowest in five years, signaling intensifying competition. VPS retained the top spot but saw its share fall to 12.61%, while SSI narrowed the gap at 11.17%. VCBS completed a capital increase to 8.5 trillion VND, with plans to reach 12.5 trillion VND by 2027, reflecting a broader industry trend of capital raising to support margin lending and proprietary trading.