Proprietary Trading Desks Net Buy VND 1.07 Trillion; Vinhomes (VHM) Leads

Overview

On April 20, 2026, securities company proprietary trading desks were net buyers of VND 1,068 billion on HoSE, with Vinhomes (VHM) receiving the largest net buy of VND 112 billion. This occurred as foreign investors returned to net selling VND 629 billion across the entire market. The VN-Index rose 19.94 points (+1.10%) to 1,837.11 points.

Key Facts

• Proprietary trading desks net bought VND 1,068 billion on HoSE on April 20.
• VHM was the top net buy at VND 112 billion.
• Other top net buys: MSN (VND 95 billion), HDB (VND 92 billion), ACB (VND 89 billion), MWG (VND 88 billion), VPB (VND 77 billion), VIC (VND 64 billion), STB (VND 47 billion), KBC (VND 45 billion), FPT (VND 41 billion).
• Top net sells by proprietary desks: DGC (-VND 20 billion), TPB (-VND 13 billion), VCI (-VND 9 billion), DIG (-VND 6 billion), HDG (-VND 3 billion).
• Foreign investors net sold VND 629 billion across the entire market.
• VHM closed at VND 138, up 6.83% with volume of 6,254,100 shares on April 15.

What Happened

On the first trading day of the week, April 20, the Vietnamese stock market opened lower and adjusted around the 1,800-point level before recovering in the afternoon session. The VN-Index closed up 19.94 points (+1.10%) at 1,837.11 points with improved liquidity.

According to exchange data, securities company proprietary trading desks were net buyers of VND 1,068 billion on HoSE. VHM was the most bought stock, with net purchases of VND 112 billion. Other heavily bought stocks included MSN, HDB, ACB, MWG, VPB, VIC, STB, KBC, and FPT. On the sell side, DGC saw the largest net sell of VND 20 billion, followed by TPB, VCI, DIG, and HDG. Meanwhile, foreign investors reversed to net selling VND 629 billion across the entire market.

Market Context

VHM, listed on HoSE, closed at VND 138 on April 15, up 6.83% with high volume. The stock has been a focus of domestic institutional buying amid a broader market uptrend. The VN-Index has been hovering near 1,800 points, with recent volatility driven by foreign flows and domestic trading activity. The divergence between proprietary desk buying and foreign selling highlights contrasting views on market direction.

Strategic Significance

The strong net buying by proprietary desks, particularly in VHM and other large-cap stocks, signals confidence from domestic institutional investors in the near-term outlook. VHM, as a leading real estate developer under Vingroup, benefits from the group’s diversified ecosystem and ongoing projects. The foreign net selling, however, suggests caution from international investors, possibly due to global rate concerns or valuation considerations. This dynamic could lead to increased volatility but also provides support for key stocks.

What to Watch

• Continued proprietary desk buying patterns in subsequent sessions, especially in VHM and other top picks.
• Foreign investor flow direction; sustained net selling could pressure the market.
• VN-Index’s ability to hold above 1,800 points and test resistance levels.
• Upcoming earnings reports from VHM and other heavily traded stocks.
• Any regulatory changes affecting foreign ownership limits or trading rules.