TCH

Vietnam real estate companies increased total debt to approximately VND 300 trillion by end-Q1 2026, while aggregate revenue surged 210% YoY to VND 76 trillion, driven by VHM and NVL. Gross profit margin recovered to 48.1%, near 2021 peaks, signaling improved pricing power in the high-end segment.

Vingroup stocks (VIC, VHM, VRE) reversed sharply from intraday highs to close lower, dragging the VN-Index down 20 points to 1,895. The broad sell-off hit real estate, banking, and oil & gas sectors, while foreign investors extended their net selling streak to 13 consecutive sessions. The reversal came despite strong morning gains that pushed the index to a new record of 1,927.

Foreign investors net sold over 1,000 billion VND (~$40 million) on May 11, with VHM, FPT, DGC, ACB, and TCH bearing the brunt of the selling. The sell-off weighed on the VN-Index, which fell nearly 20 points to 1,896. BSR, GEE, and DCM saw net buying.

Foreign investors net sold nearly VND 1,000 billion on May 5, 2026, with net sell of VND 997.5B, while domestic individuals net bought VND 760.8B. The VN-Index rose 20.79 points, almost entirely from VIC and VHM, but breadth was negative with 213 declining stocks, indicating a narrow rally.

Foreign investors net sold VND 13,755.4 billion (USD 550 million) in April 2026, with banking stocks under heaviest pressure, while the VN-Index rose 10.73% driven mainly by VIC and VHM. The FTSE Russell upgrade confirmation did not stem the outflow, highlighting concentrated buying in Vin-group stocks.

Foreign investors net sold nearly VND 14,000 billion on HOSE in April, with VHM (Vinhomes) leading the sell-off at VND 5,800 billion, while HPG was the top net buy at VND 1,500 billion. The selling pressure persists despite the VN-Index rising 180 points (+10.7%) during the month, signaling a divergence between domestic and foreign sentiment.

VietinBank (CTG) reported Q1/2026 pre-tax profit of VND 11,139 billion, up 63% YoY, leading a mixed earnings season. While MB (MBB) rose 15% and Vinpearl (VPL) surged 987%, Eximbank (EIB) saw a 59% decline. The results highlight divergent performance across banking, real estate, and consumer sectors.

BSC Securities analysis finds that home prices of VND 80 million/m2 and mortgage rates of 10.5% remain within the affordability threshold for genuine homebuyers. The report forecasts strong industry profit growth in 2026-2027, driven by new sales recovery and legal improvements, despite recent stock corrections of 30-50% from peaks for key tickers including DXG, PDR, NLG, TCH, and KDH.

Foreign investors net sold nearly VND 1,950 billion (USD 78 million) on April 24, 2026, ahead of a long holiday, with VN-Index falling 17 points to 1,853.29. Banking and real estate stocks, including VIC, VHM, and VCB, were the main drags, while oil & gas stocks saw some buying. The selling pressure reflects cautious positioning before the break, with market breadth negative.

Foreign investors net sold VND 4,497.4 billion (~$179.9 million) last week, with matched-order net selling of VND 1,069.2 billion. Net buying concentrated in Real Estate (VIC) and Basic Resources (HPG), while net selling focused on Information Technology (FPT, BID). The VN-Index rose 3.84% to 1,817.17, extending its recovery for a fourth consecutive week.

Domestic institutional investors were net sellers of VND 469.3B on April 15, while foreign investors net bought VND 47.6B, with notable buying in Real Estate (VIC, VHM) and Retail (MWG, MSN). The VN-Index closed at 1,817.17, down 2.66 points, pressured by Vingroup stocks but supported by MWG, GVR, and FPT.