KBC

The State Bank of Vietnam's Circular 4551 excludes incremental loans for social housing and industrial parks from real estate credit growth limits, effectively channeling capital to these priority sectors. Industrial park developers like KBC, IDI, SZC, BCM, and VGC are direct beneficiaries, with VGC also gaining from its social housing exposure.

KBC sees insider buying as a relative of a board member acquires 8 million shares, lifting her stake to 0.891%. The purchase comes as the company reports a 72% drop in Q1 2026 net profit to VND 234B, with industrial park revenue falling 71%. The stock closed at VND 30,400 on June 1.

KBC has signed an MOU with SP Group, a leading Asian energy solutions provider, to research and develop district cooling systems for its industrial parks in Hai Phong and Tay Ninh. The initiative aims to enhance energy efficiency, lower operating costs for tenants, and support carbon reduction targets, potentially improving the competitiveness of KBC's industrial park portfolio.

GEX was the most sold stock by proprietary trading desks on May 13, with net selling of 168 billion VND, followed by VNM and PVT. The overall net selling of 379 billion VND by proprietary desks, combined with foreign net selling of 1,475 billion VND, signals caution among institutional investors amid the VN-Index near its all-time high.

GEL saw the heaviest net selling from proprietary trading desks on May 12, with VND 163 billion sold, while foreign investors net sold nearly VND 840 billion market-wide. The selling pressure highlights continued risk-off sentiment among domestic and foreign institutional investors.

GEL, a Gelex infrastructure stock, was the most sold by proprietary trading desks on Monday, with net selling of VND 268 billion, contributing to a total proprietary net sell of VND 430 billion on HOSE. Foreign investors also net sold nearly VND 1,004 billion across the market, adding pressure on Vietnamese equities.

Foreign investors net sold VND 4,158 billion (USD 166.3 million) on the Vietnamese market in the week of May 4-8, with FPT, ACB, and HPG accounting for the largest outflows. Despite the selling, VN-Index hit a new all-time high of 1,915.37 points, driven by strong domestic buying. The divergence between foreign selling and domestic buying suggests continued foreign rotation out of large-cap tech and banks into selected consumer and energy stocks.

Foreign investors net sold VND 1,115 billion on May 6, 2026, with technology stocks like FPT being the most sold, while the VN-Index rose 16.35 points on FTSE Russell upgrade news. The selling pressure was concentrated in IT, while banking and securities stocks gained.

VIX and HCM hit ceiling prices on May 6 as the VN-Index rose 16.35 points to 1,891.2, driven by expectations that Vietnam may be added to MSCI's watchlist in June 2026. Foreign investors net sold over VND 1,100 billion, mainly in FPT, but the securities sector saw strong domestic inflows.

FTSE Russell trimmed its Vietnam watchlist to 23 stocks from 32, retaining large-caps VIC, HPG, VHM, FPT, MSN, SSI, VNM, STB, VCB, VJC, VRE, and adding VIX, NVL, VCI, SHB, GEX, VND, KBC, KDH, BID, DGC, BSR, GEE. SSI Research estimates total ETF inflows of $1.3 billion, phased from September 2026 to September 2027, with the largest contribution from Vanguard FTSE Emerging Markets ETF at $481 million.

FTSE Russell has narrowed its watchlist to 23 Vietnamese stocks for the September 2026 index review, with an estimated $1.3 billion in foreign inflows. Vingroup (VIC) leads at $498 million, followed by HPG ($115M), VHM ($99M), FPT ($69M), and MSN ($63M). The official changes will be announced from August 21, 2026.

KBC sees an insider-related filing as Ms. Nguyen Thi Kim Thanh registers to buy 8 million shares, increasing her stake from 0.051% to 0.891%. The purchase comes after the company reported a 72% drop in Q1 2026 net profit, though it maintains ambitious full-year targets.