VietinBank Securities warns of potential foreign stock sell-offs

VietinBank Securities (VBSE) reports that foreign investors have engaged in a significant sell-off cycle on the Ho Chi Minh City Stock Exchange (HOSE). Between August 2025 and October 2026, net selling reached 213,100 billion VND, accounting for approximately 58.4% of the total net selling volume recorded over the past 43 months.

VBSE suggests this trend reflects a global reallocation of capital rather than systemic instability within the Vietnamese market. Factors contributing to this shift include high US interest rates, which increase the appeal of USD-denominated assets, and a global focus on technology and artificial intelligence sectors. Additionally, the timing of capital inflows related to market upgrading remains dependent on the portfolio restructuring timelines of international investment funds.