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Foreign investors continued to post net selling, with outflows not showing signs of cooling and exerting significant selling pressure on the overall trend.
After the close of April trading, the VN-Index fell about 22 points in a choppy session but finished the month strong. The index ended April at 1,854 points, up nearly 180 points, or about 10.7% from March.
The core upside drivers came from leadership by the Vingroup group and consensus among several pillar stocks, providing a solid base for domestic investor sentiment.
Despite the rally, a major hurdle persisted as foreign outflows continued. Foreign net selling across the market exceeded 12.1 trillion VND. On HOSE, foreign net outflow surpassed 13.7 trillion VND, while on HNX foreigners bought a net near 300 billion VND.
On a stock-by-stock basis, selling pressure was concentrated in large-cap names. VHM recorded the largest net selling at 5.8 trillion VND, far ahead of peers. Next were technology giant FPT at -2.7 trillion VND and VIC at -1.6 trillion VND.
The outflow also swept other large blue chips and oil-and-gas stocks, including VCB (-1.3 trillion VND), BID (-879 billion), HDB (-753 billion), BSR (-665 billion), ACB (-652 billion), VPB (-630 billion) and MBB (-561 billion).
On the buy side, HPG attracted the strongest buying interest, with net purchases reaching 1.5 trillion VND, maintaining its dominance among buyers. Foreign demand also extended to MSN (918 billion VND) and VPL (620 billion VND).
Additional net buying included SHS (441 billion VND), SSI (408 billion VND), MWG (298 billion VND), TCH (255 billion VND), VRE (250 billion VND), LPB (248 billion VND) and IDC (236 billion VND).
As May approaches—a month often associated with the “Sell in May” effect—market focus will be on whether domestic demand can sustain momentum and how the profit outlook for leading sectors evolves amid potential selling pressure.
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