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Foreign investors reduced exposure to bank stocks, but domestic liquidity remained stronger, lifting prices among leading names in the sector. Banking group liquidity on HOSE accounted for as much as 43.5% of the total matched value on the exchange this morning, the highest proportion on record.
The state-owned banking group showed unexpectedly strong liquidity and price performance. VCB signaled it may “repeat the early-year history” after a spike transaction of more than VND 1,660 billion. In the morning session alone, VCB’s liquidity nearly reached the historical record threshold recorded on January 9, 2026. VCB’s price rose 5.72%.
Earlier in 2026, VCB had rallied for more than six consecutive sessions, with a maximum gain of over 37%. At yesterday’s close, VCB’s price had already returned close to the early-year level.
BID and CTG also recorded strong liquidity. BID matched VND 706.3 billion and rose 3.85%. CTG matched VND 582.5 billion and increased 2.58%. Like VCB, BID and CTG prices retraced back toward early-2026 levels.
An irony noted in the market is that the early-year bank rally was led by state-owned banks, and today the pattern repeated. Besides the three leading stocks mentioned, only a few other banks rose modestly: KLB +2.84%, TCB +1.36%, MBB +0.95%, while the rest moved little.
Outside the bank leaders, VIC rose 2.32% after heavy selling pressure. The stock traded about 2.45 million shares worth approximately VND 524.5 billion, and its price was still down 3.15% from the peak. VHM recorded liquidity of VND 422.3 billion, but its price was pressured, falling 2.42% and turning to -0.86% versus the reference.
The VN30 basket was mixed, with breadth of 17 gainers and 10 losers, but the index rose only 0.46%. The move was restrained because many stocks traded weakly amid insufficient cash flow. Although total blue-chip liquidity reached nearly VND 7,623 billion (excluding block trades), up 70% from yesterday morning, the increase was bank-driven. Bank stocks in VN30 accounted for up to 65% of total matched value. If bank liquidity is excluded, VN30 trading would have declined slightly by about 5% versus yesterday.
Liquidity in the broader market improved slightly. Total matched value on HOSE rose 59% to nearly VND 12,043 billion. Excluding bank trades, HOSE liquidity still rose 19%.
Improved inflows supported market breadth. The VN-Index closed the morning session up 0.93% (+17.33 points), with 135 gainers and 147 decliners. However, most stocks traded in a narrow range: only 43 stocks rose more than 1%, while 52 fell more than 1%.
Among gainers, bank stocks dominated both performance and liquidity. Only 18 blue-chips traded at VND 10 billion or more. Outside banks, notable gainers included NVL +3.2%, PVT +4.04%, HAH +1.43%, VCG +1.62%, DIG +1.06%, and GMD +2.04%.
On the downside, the most heavily traded decliners included about 17 stocks trading above VND 10 billion. Blue-chips with declines of more than 1% included DGC -1.82%, VPL -1.31%, and MWG -1.04%. In mid-caps, declines were broader, including HCM -1.47%, GEE -3.29%, PC1 -1.54%, PNJ -2.86%, and VSC -1.08%.
Foreign investors stepped up selling this morning, with total selling value up 76% versus yesterday. This left the net position on HOSE at -VND 9,087 billion. Many banks were among the top net sellers: CTG -VND 115 billion, VCB -VND 72.6 billion, ACB -VND 65.9 billion, and VPB -VND 63.8 billion.
On the buying side, foreign investors were net buyers of VNM (+VND 31 billion) and NVL (+VND 19 billion).
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