Record outflow of foreign funds from Vietnamese stocks, Vingroup's two large block deals draw attention

On Monday, the Vietnamese stock market recorded a record single-day outflow of foreign investment, with approximately $375 million worth of Vingroup shares changing hands through two block trades. After the market closed, a total of 90 million shares of Vingroup were traded in the two block trades at a price of 109,096 Vietnamese dong per share, representing a discount of less than 2% from the closing price. Vingroup has not yet responded to this issue. Tyler Manh Dung Nguyen, Chief Market Strategist at Ho Chi Minh City Securities Company, stated in a report that this was reportedly a withdrawal planned by a large institutional investor in private equity transactions in the Asia-Pacific region, rather than regular stock trading. Following the news of Vingroup's announcement of investing approximately $14.3 billion in the construction of a port and logistics center in the northern city of Haiphong, the stock hit the daily price limit for the second consecutive trading day on Tuesday, with a weekly increase of 14%. Due to the aforementioned block trades of Vingroup shares, foreign investors net sold around $387 million worth of Vietnamese stocks on Monday, setting a new historical record.