Vietnam's stock market rebounded sharply on May 5 thanks to the pulling force from the Vingroup group and some bank stocks. Closing, VN-Index increased by more than 20 points to the 1,875 point zone. The minus point lies in liquidity when the matched order value on HoSE only reached about 22,400 billion VND.
In that context, foreign investors continued to net sell more than 998 billion VND across the market.On the HoSE exchange, foreign investors net sold nearly 997 billion VND.On the HNX, foreign investors net bought nearly 15 billion VND and net sold 17 billion VND on Upcom.Thus, in just the first two trading sessions of May, foreign investors net sold nearly 2,500 billion VND.
In today's session (May 5), in the buying direction, foreign investors net bought the strongest POW stock with a value of about 143 billion VND.Behind are VHM and PVT with the same value of about 69 billion VND.In the opposite direction, net selling pressure is most concentrated in ACB with a value of about 427 billion VND.Followed by HPG with about 285 billion VND and FPT with about 134 billion VND.
In the context of strong domestic demand supporting the market to have positive recovery phases and Vingroup stocks continuously setting new peaks, foreign investors take advantage of profit-taking.With the focus of selling strongly large stocks, foreign investors continued to maintain a strong net In total, foreign investors net sold 937.65 million units, corresponding to a total net selling value of 41.337 billion VND, down 7.55% in volume but up 12.75% in value compared to the same period in 2025.
Looking at the list of foreign investors in the past 4 months, the large stock in the technology group, FPT, continues to lead the list of strong net selling with a volume of 142.55 million units, with a corresponding net selling value of 12,159 billion VND.
In the next position is the Vingroup duo, including VHM being net sold nearly 10,890 billion VND and VIC being net sold 9,398.5 billion VND.
Notably, in this portfolio, there is the appearance of many bank stocks, such as "big brother" VCB being net sold 5.712 billion VND, STB being net sold 2.994 billion VND, HDB being net sold nearly 2.184 billion VND, ACB being net sold 2.141 billion VND...
With what is happening, many investors are starting to raise big questions, because forecasts about foreign investors soon returning to net buying have been continuously made, even appearing from the previous year, associated with one of the central stories being market upgrades.
Financial expert, Dr. Nguyen Duy Phuong - Director of DG Capital Investment Division - stated that upgrade does not mean that cash flow will enter immediately. With passive capital flows, only when officially put into the index basket, ETF funds allocate capital according to proportions, this process takes place gradually.
For active capital flows, being ahead of schedule from the time the upgrade story stops at the expected level may be the reason why some funds are taking profits.Conversely, funds that have not previously invested will need market research time, usually taking 6 months to 1 year before disbursement.
A limitation currently is that the number of large, high-quality enterprises that meet the conditions for foreign investors is still quite small.However, if large enterprises promote IPOs in the near future, new supply will help attract more foreign capital flows.Therefore, this expert expects that in the next 6-12 months, foreign cash flow will gradually return to the Vietnamese stock market.
