Vietnam’s stock market experienced a rather subdued trading week from July 22-26. The main index continued its downward trajectory at the start of the week, testing the 1,220-point level before rebounding as buying pressure returned. Selling pressure eased while buying pressure remained insufficient. Overall, after five trading sessions, the VN-Index lost 22.67 points (-1.79%) to close the week at 1,242.11. The decreasing trading volume during the week indicated investors’ caution amidst recent market volatility.
Notably, foreign investors unexpectedly turned net buyers. This was the first week in five months that foreign capital recorded net buying for the week, although most of the buying was through negotiated deals. Cumulative for the five sessions from July 22-26, foreign investors bought a net VND 462 billion on the entire market, including net selling of VND 410 billion on the matching board but net buying of VND 872 billion on the negotiated board.
Looking at individual exchanges, foreign investors net bought VND 421 billion on HoSE, net sold VND 13 billion on HNX, and net bought VND 54 billion on UPCoM.
Analyzing by stock, KDC shares unexpectedly saw the strongest net buying from foreign investors with VND 481 billion, almost entirely through negotiated deals in the last session of the week. This was also the session with the largest foreign capital inflow into this stock in about five years.
Foreign capital also flowed into SBT shares with VND 438 billion (mostly negotiated deals). This was the result of increased ownership by Legendary Venture Fund 1, an organization based in Singapore. This organization purchased over 28.35 million SBT shares on July 22, raising its stake to 116.3 million shares, equivalent to 15.71% of capital.
Meanwhile, foreign investors net bought VNM shares worth VND 232 billion, mostly through matching orders. Other stocks that witnessed net buying during the week included MSN, BCM, VCB, and others, with values ranging around VND 100 billion over the five sessions.
On the other side, DGC shares were the focus of net selling this week, with a net selling value of VND 420 billion, entirely through matching orders. Additionally, SSI and MWG shares also experienced net selling of VND 289 billion and VND 208 billion, respectively.
The net selling list also included VHM and VPB, which were net “dumped” by VND 170 billion and VND 120 billion, respectively. Other stocks that faced net selling from foreign investors during the week included DXG, TLG, TCH, VRE, and others.
