Foreign Investors Net Sell VND 4.7 Trillion on HOSE Pre-Holiday Week

Overview

Foreign investors net sold VND 4,690.2 billion (approximately USD 187.6 million) on the three exchanges in the week before the holiday (week 17 of 2026), with net sell on order matching of VND 3,419.9 billion. The selling was concentrated in banking stocks and FPT, while domestic individual investors net bought VND 3,101.2 billion. The VN-Index rose 1.99% to 1,853.29 points, but liquidity weakened, indicating the rally was narrow and driven mainly by VIC and VHM.

Key Facts

• Foreign investors net sold VND 4,690.2 billion (USD 187.6 million) in the week before the holiday.
• Net sell on order matching was VND 3,419.9 billion.
• Top net sold stocks on order matching: FPT, ACB, VCB, VHM, VPB, BID, CTG, GAS, PVD.
• Top net bought stocks on order matching: FUEVFVND, HPG, MSN, MWG, HCM, VJC, VPL, VPI, KBC, LPB.
• Domestic individual investors net bought VND 3,101.2 billion (VND 2,892.6 billion on order matching).
• Proprietary trading (tự doanh) net sold VND 704.8 billion (VND 460.8 billion on order matching).
• Average matched order value on HOSE was VND 20,477 billion per session, down 2.43% week-on-week.

What Happened

According to the weekly market report, foreign investors intensified selling in the week before the holiday, with net sell value reaching VND 4,690.2 billion. On order matching, they net sold VND 3,419.9 billion, with the banking sector being the most sold. The top net sold stocks included FPT, ACB, VCB, VHM, VPB, BID, CTG, GAS, and PVD. On the buying side, foreign investors focused on financial services and basic resources, with top net buys including FUEVFVND, HPG, MSN, MWG, HCM, VJC, VPL, VPI, KBC, and LPB.

Domestic individual investors were net buyers, absorbing the foreign selling, particularly in banking stocks. They net bought VND 3,101.2 billion overall, with top purchases including FPT, ACB, VCB, HCM, HPG, VHM, STB, CTG, MSB, and BSR. Proprietary trading desks net sold VND 704.8 billion, with top sells including FUEVFVND, SHB, STB, VIC, VCB, TCB, TPB, HAH, DGC, and VRE.

Market Context

The VN-Index rose 1.99% to 1,853.29 points, but the gain was heavily dependent on VIC and VHM, which together contributed +44.23 points (approximately 2.43%). Liquidity weakened, with average matched order value on HOSE falling 2.43% week-on-week to VND 20,477 billion per session, and 4.90% below the five-week average. This suggests that the rally lacked broad participation and that cash flow remained cautious. The foreign selling pressure was particularly notable in banking stocks, which have been a key sector for foreign investors. FPT, a leading technology stock on HOSE, was the most sold stock on order matching, reflecting profit-taking or repositioning by foreign funds.

Strategic Significance

The sustained foreign selling, especially in banking and FPT, indicates that foreign investors are reducing exposure to Vietnamese equities ahead of the holiday period, possibly due to global risk-off sentiment or portfolio rebalancing. The narrow rally driven by VIC and VHM highlights the market’s dependence on a few large-cap stocks, which may not be sustainable. Domestic individual investors stepping in to buy suggests that local confidence remains intact, but the lack of foreign support could cap upside. For FPT, the heavy foreign selling may be a short-term headwind, but the company’s fundamentals remain strong, and domestic buying may provide a floor.

What to Watch

• Foreign flow data in the coming weeks to see if selling continues or reverses.
• VN-Index liquidity trends: a sustained decline would confirm weak market breadth.
• Q1 2026 earnings reports for FPT and banking stocks to assess fundamental support.
• Any policy changes or global market developments that could affect foreign investor sentiment.
• The performance of VIC and VHM: if they falter, the index could correct.