Domestic institutions and proprietary traders post strong net buying

Domestic institutional investors posted a net buy of 476.6 billion dong, including a net buy of 535.2 billion dong in the regular trading session. Despite a range of positive domestic signals—macroeconomic conditions, economic growth, and stable interest rates—liquidity continued to drain, leaving the VN-Index unable to break out strongly.

Market performance and trading breadth

The VN-Index closed up 2.55 points, moving toward 1,677.54. Market breadth was more positive, with 161 gainers versus 140 decliners. In the final minutes of trading, the securities group was lifted, VIX reached its ceiling, and several stocks followed, including SSI, VCI, HCM, and VND.

Sector rotation and stock-level divergence

The market showed deep differentiation among stocks within the same sector. In Banking, state-owned large-cap names were flat, while smaller-cap stocks rose, including VPB, LPB, and SHB.

In Real Estate, VIC rose 1.27% while VHM fell 1.71%. NVL, BCM, PDR, and DXG advanced, while KBC, SIP, and KDH declined or traded flat. Retail consumer stocks followed a similar split: losers included VPL, MWG, PNJ, MSN, SAB, while gainers included VNM, HAG, and FRT.

Telecommunications and information technology rose broadly, led by VGI, FPT, and FOX. Oil and energy stocks continued to decline as oil prices rose amid tensions in the Middle East.

Liquidity and foreign flows

Liquidity across three exchanges fell to very low levels. Matched trading value was 16.5 trillion dong, suggesting investor sentiment remained cautious.

Foreign investors continued to sell aggressively ahead of an upcoming listing, with net selling of 780.4 billion dong in matched trades; excluding matched trades, they sold 834.2 billion dong. Foreign investors’ main matched-trade net buying came from Real Estate and Chemicals. Top net buyers in matched trades included VIC, DGC, VCK, PVD, DPM, LPB, DIG, PLX, HPG, and GAS.

On the selling side, Banks were the main net sellers. Top net sellers in matched trades included TCB, HDB, MBB, ACB, SSI, CTG, MWG, TCX, and VPL.

Retail and proprietary trading

Retail investors sold a net 38.7 billion dong, while buying 232.2 billion dong in matched trades. In matched trades, retail investors bought net in 6 of 18 sectors, led by Banking. Top net buys included HDB, SHB, HCM, BID, GEE, MBB, TPB, MWG, VPL, and EIB.

Retail investors sold net in 12 of 18 sectors in matched trades, mainly Real Estate and Chemicals. Top net sells included VIX, VIC, VSC, ACB, HPG, NVL, PVT, FPT, and DXG.

Proprietary trading firms net bought 386.3 billion dong; in matched trades, they net bought 66.8 billion dong. In matched trades, the strongest net buying sectors were Banking and Real Estate. Top net buys included FPT, VIC, KBC, VHM, MBB, MSN, VNM, HPG, LPB, and VJC. Top net sells were in the Industrial Goods & Services sector, with major selling stocks including TPB, TCH, FUEVFVND, GEE, VTP, NLG, PNJ, MWG, VGC, and E1VFVN30.

Notable large trades

Notable trades included KBC, where 10 million shares (about 319.5 billion dong) were purchased by domestic institutions. NVL also saw activity of over 22.4 million shares (about 304.1 billion dong) traded between domestic individuals.

Money flow shift

The money flow distribution shifted toward Banks, Securities, and Information Technology, as well as Tourism & Leisure and Warehousing. It eased in Real Estate, Construction & Materials, Oil & Gas, Consumer Discretionary, Basic Resources, Chemicals, Retail, and Utilities. In matched trading, the share of capital allocated to large-cap VN30 stocks rose, while it decreased in mid-cap VNMID and small-cap VNSML.