Vietnam Market: Foreign Net Selling VND 639B, Proprietary Trading Buys VND 1,071B

Overview

On April 15, 2026, foreign investors were net sellers of VND 639 billion on the Vietnamese stock market, while proprietary trading desks (tự doanh) were net buyers of over VND 1,071 billion. Foreign net buying focused on Retail and IT sectors, with top buys including SSI, MWG, and FPT. Net selling was concentrated in Banking, with VPB, VIC, and BSR among the most sold. The VN-Index gained nearly 20 points to close at 1,837, but market breadth was negative.

Key Facts

• Foreign investors net sold VND 639 billion (~$25.56 million) on the HoSE, HNX, and UPCoM.
• Proprietary trading desks net bought VND 1,071 billion, with VND 998.6 billion from matched orders.
• Top foreign net bought stocks (matched orders): SSI, MWG, FPT, VHM, PNJ, MSN, HPG, HDB, VRE, TPB.
• Top foreign net sold stocks (matched orders): VPB, VIC, BSR, TCB, BID, HCM, CII, GMD, MBB.
• VN-Index rose 19.8 points to 1,837, with VHM contributing +8.16 points and VIC +5 points.
• Total market liquidity was VND 21,400 billion, lower than recent sessions.
• Individual investors net sold VND 165.5 billion overall, but net bought VND 298 billion in matched orders.

What Happened

According to the daily market report, foreign investors were net sellers of VND 639 billion on the Vietnamese stock market on April 15, 2026. However, on a matched-order basis, foreign investors were net buyers of VND 235.2 billion, indicating that the net selling was driven by block trades or other non-matched transactions. Foreign net buying was concentrated in the Retail and Information Technology sectors, with top buys including SSI, MWG, FPT, VHM, and PNJ. Net selling was focused on the Banking sector, with VPB, VIC, BSR, TCB, and BID among the most sold.

Proprietary trading desks were aggressive net buyers, with total net buying of VND 1,071 billion, of which VND 998.6 billion came from matched orders. They net bought 13 out of 18 sectors, with the strongest buying in Banking and Real Estate. Top proprietary buys included VHM, MSN, MWG, HDB, ACB, VPB, VIC, STB, KBC, and FPT. The only sector net sold was Chemicals, with DGC, TPB, and VCI among the top sold.

Market Context

The VN-Index rose nearly 20 points to 1,837, driven primarily by Vingroup stocks, especially VHM which hit the ceiling price and contributed over 8 points. However, market breadth was negative with 147 decliners versus 154 advancers, indicating that the rally was narrow. Liquidity fell to VND 21,400 billion, suggesting cautious sentiment amid geopolitical risks from the Middle East. SSI, the top foreign buy, closed at VND 29,000, up 0.17%, with volume of 22.2 million shares. MWG closed at VND 81,000, down 1.10%, and FPT at VND 75,000, down 1.31%.

Strategic Significance

The divergence between foreign net selling and proprietary net buying highlights a tactical shift: foreign investors are reducing exposure to Vietnamese equities, particularly banks, while domestic proprietary desks are stepping in to support the market. The concentration of foreign buying in Retail and IT suggests a preference for consumer and tech stocks over financials. The strong proprietary buying in Banking and Real Estate may indicate a view that these sectors are oversold or that the Vingroup-led rally will broaden. The low liquidity and narrow breadth, however, suggest that the market remains vulnerable to a correction.

What to Watch

• Foreign flow data in the coming sessions to see if the net selling trend continues or reverses.
• VHM and VIC price action, as they are key drivers of the VN-Index.
• Banking sector performance, especially VPB, TCB, and BID, which were heavily sold by foreigners.
• Geopolitical developments in the Middle East that could affect oil prices and energy stocks.
• Q1 2026 earnings reports for SSI, MWG, and FPT to validate foreign buying interest.