The stock market has just had a strong recovery week, but mainly thanks to the positive weekend session while liquidity decreased sharply. At the end of the week, VN-Index increased by 39.04 points (+2.26%) compared to the previous week and closed at 1,768.12 points.
Regarding the trading value of foreign investors, this group maintained strong net selling pressure in the first 4 sessions of the week, then suddenly returned to net buying in the last session of the week, but the value was not too large. Accumulated for 5 trading sessions, foreign investors net sold 2,511 billion VND on the entire market.
For each exchange alone, foreign investors net sold VND 2,663 billion on HoSE, net bought VND 35 billion on HNX and net bought VND 117 billion on the UPCoM exchange.
Statistics according to stock codes, VNM led the net buying direction with a value of 181 billion VND, followed by TCB (92 billion VND) and SHB (91 billion VND).
In the opposite direction, VIC was the stock that was net sold the strongest with a value of 641 billion VND, followed by VPB (377 billion VND) and VCB (282 billion VND). GMD and STB were net sold 243 billion VND and 241 billion VND respectively, while VHM (216 billion VND), ACB (188 billion VND), SSI (162 billion VND) and HPG (135 billion VND) also suffered significant selling pressure.
According to experts from BIDV Securities Company (BSC), investment capital in Vietnam may be more positive in the second half of 2026, with two main scenarios.
In a positive scenario, cash flow may seek opportunities in other markets when global risks cool down, technical barriers are eased, new investment topics appear and the trend of portfolio diversification to other markets and industry groups increases.
The new investment topics mentioned by BSC include technology, finance, security and energy. In addition, stable macroeconomic policies, growth support and attractive valuation are considered factors supporting capital flows.
In the underlying scenario, the trend of investing in topics such as AI and semiconductor may continue, but cash flow shows no signs of increasing strongly. However, net selling pressure from FTSE Frontier Index tracking funds is expected to gradually decrease, while cash flow related to the upgrade conversion process may begin to buy listed stocks in Vietnam.
BSC also noted the differentiation in valuation between the Vingroup group and businesses with growth stories or attractive valuations. Accordingly, cash flow is expected to be selective, while selling pressure may gradually decrease.
In the long term, BSC believes that the ability to attract capital flows into Vietnam is also supported by macroeconomic policies promoting growth, attractive valuations, institutional reforms, the increase in the supply of quality goods through equitization and divestment of state-owned enterprises, as well as the listing mechanism for FDI enterprises.
In the short term, the most anticipated event is that FTSE Russell has confirmed Vietnam's upgrade from a frontier market to a Secondary Emerging Market, effective from the market opening on September 21, 2026. FTSE Russell said that Vietnam has met all the criteria of the secondary emerging market group.
According to the ranking organization's roadmap, the inclusion of Vietnamese stocks in global indices will not be implemented entirely in one time but will be divided into 4 phases, starting from September 2026 and completing in September 2027. This method aims to limit the impact on liquidity and help capital flows according to indices have time to allocate to the market.
