Many corporate leaders buy and sell shares amid market adjustments

Many corporate leaders have been actively accumulating and divesting shares as the market adjusts amid heightened volatility since the beginning of March. The increased pace of insider transactions reflects both leadership portfolio management and expectations for improved business performance at certain firms.

Insiders register share purchases to raise ownership

Le Hai Doan, a member of the Board of Directors of Vinasun (VNS), registered to buy nearly 4.9 million VNS shares between April 8 and May 7 to increase his ownership. If the transaction is completed, his stake would rise to about 13.6% of charter capital.

At Taseco Land, Le Duc Long, an independent member of the Board, registered to buy an additional 155,000 TAL shares from April 13 to May 12 to increase his personal holding.

Doan Nguyen Duc (Bau Duc), Chairman of Hoang Anh Gia Lai (HAG), continued registering to buy another 4 million HAG shares from March 26 to April 24 after previously purchasing 5 million shares in mid-March. The chairman said the ongoing purchases aim to raise his ownership as the company’s finances have improved significantly.

Hoang Anh Gia Lai reported revenue of 7,440 billion VND in the previous year, up nearly 29% from 2024. Net profit after tax reached 2,243 billion VND, double the same period. The company also reported a decline in leverage, with the debt-to-equity ratio falling from above 2x to 0.86x, and the debt-to-total-assets ratio at around 0.46x.

Leaders also sell shares to rebalance portfolios

Alongside buying, some executives registered sales to rebalance their portfolios. Pham Quang Khanh, a member of the Board of AAV Group, registered to sell 15 million AAV shares from April 9 to May 8, reducing his ownership from over 23.5% to about 1.8% of charter capital.

Kim Nguu Consulting Co., Ltd, an entity linked to Vinasun leadership, registered to sell all of more than 8.29 million VNS shares between April 7 and May 5 as part of a portfolio restructuring.

These divestment moves are largely aimed at meeting personal financial needs and adjusting holdings in a competitive, volatile market environment.

Market rebalancing signals and trading data

Analysts from securities companies said the market is in a rebalancing phase after a rebound. In the week of April 6–10, the VN-Index rose 65.96 points to 1,750, though profit-taking pressure increased at higher price levels.

Liquidity on HoSE averaged about 24.3 trillion VND per session, down slightly from the previous week, suggesting more cautious capital flow.

Brokerage views on the index outlook

• Bao Viet Securities (BVSC) said the VN-Index still has room to rise to around 1,770–1,785 points if the consolidation base remains intact.
• SSI Securities assessed that the current movement resembles a short-term rebalancing state, with selling pressure increasing at higher price levels.
• Viet Capital Securities (VCSC) expected the index to continue moving in a narrow range, with alternating gains and declines.

Prospects for foreign capital inflows

Vietnam’s stock market is also viewed as having favorable prospects, particularly after its upgrade from frontier market to secondary emerging market on September 21. The upgrade is expected to help attract larger international capital inflows.

Some brokerage firms estimated foreign capital inflows into Vietnam at about 6–8 billion USD, while HSBC Global Research suggested the figure could reach up to 10.4 billion USD in the most optimistic scenario. These estimates include both active and passive funds.