CTD

Coteccons (CTD) outlines a two-phase roadmap to raise the foreign ownership limit from 50% to 100%, with a shareholder vote scheduled for August 2026. The move follows years of shareholder approval and regulatory work, potentially opening the stock to greater foreign inflows.

MBS forecasts backlog growth of 15% in 2026 and 10% in 2027 for listed construction companies, driven by the 2026-2030 public investment cycle. CTD is expected to see a 30% backlog increase, while VCG, HHV, and CII see more moderate gains. The cycle focuses on large infrastructure projects including railways and expressways.

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.

KBSV sees construction stocks trading below 5-year average P/B, with a positive outlook for residential and infrastructure segments driven by housing supply recovery, record public investment of VND 1.08 quadrillion in 2026, and FDI inflows. The broker is neutral on industrial construction due to project delays. Key beneficiaries include CTD, VCG, HHV, and PC1.

Coteccons (CTD) topped out the 127m air traffic control tower at Gia Binh International Airport, a VND 196,378B project, on June 8. The company targets 2026 revenue of VND 30,000B (+20.6%) and net profit of VND 700B (+53.5%), with VND 31,000B in new contracts expected. The milestone supports the airport's timeline for APEC 2027.

Foreign investors net sold a record VND 7,192 billion (USD 288 million) in the first week of June, with Vingroup (VIC) accounting for VND 4,820 billion of outflows. FPT was the top net buy at VND 1,501 billion. The selling pressure contributed to a 1.23% weekly decline in the VN-Index, though late-week buying in banks and Vingroup stocks helped a recovery.

On June 4, 2026, foreign investors net sold VND 5,742.2 billion on the Vietnamese stock market, the largest daily sell-off in recent months, but domestic institutions absorbed the entire amount with net purchases of VND 5,915.0 billion. A notable block trade saw 25.2 million VIC shares worth VND 4,997.4 billion transferred from foreign to domestic hands, signaling a major ownership shift in Vingroup.

CTD: Former Coteccons Deputy CEO Pham Quan Luc has been elected Chairman of Ricons, a construction firm in the Nguyen Ba Duong ecosystem. The move signals potential strategic alignment between Ricons and the broader Newtecons group, with implications for CTD's competitive landscape.

Foreign investors unexpectedly net sold VND 1,700 billion (USD 68 million) on all three exchanges, with strong selling pressure on real estate and banking stocks, dragging the VN-Index down 16 points to 1,896.89. The sell-off was concentrated in VIC and VHM, which together accounted for over 13 points of the index decline, signaling a broad de-risking by foreign capital.

TCB, MWG, and MBB faced heavy selling from proprietary desks on HOSE on May 15, with net sales of VND 870 billion, while foreign investors turned net sellers with VND 817 billion across the market. The selling pressure contributed to a 0.2% decline in the VN-Index.