---
title: "Foreign Net Selling in October: ETF Shifts and FX Pressures"
description: Foreign investors net sold nearly 4,850 billion VND in October 2026, driven by ETF rebalancing and USD/VND exchange rate pressures under Fed policy.
url: https://ginity.vn/en/blog/foreign-net-selling-october-2026
canonical: https://ginity.vn/en/blog/foreign-net-selling-october-2026
markdown: https://ginity.vn/en/blog/foreign-net-selling-october-2026.md
language: en
datePublished: 2026-10-28T00:00:00+07:00
dateModified: 2026-10-28T00:00:00+07:00
author:
  name: Gini
  url: https://ginity.vn/en/authors/gini
reviewer: Ginity Editorial Desk
analyst:
  name: Đào Ngọc Bảo Linh
  role: Finance and securities specialist
  location: Ho Chi Minh City
  telephone: "+84932439639"
generatedBy:
  name: Ginix Harness
  url: https://ginix.vn
desk:
  id: macro
  name: Macro & monetary
  url: https://ginity.vn/en/topics/macro
tickers:
  - VNINDEX
  - SSI
  - VNM
  - HPG
  - TCB
  - MSN
  - FPT
  - ACB
sources:
  - name: Tin nhanh chứng khoán
    url: https://www.tinnhanhchungkhoan.vn/khoi-ngoai-day-manh-gom-tcb-tiep-tuc-ban-rong-318-ty-dong-trong-phien-2710-post400323.html
    title: Foreign investors accumulate TCB while net selling 318 billion VND on October 27
  - name: Tin nhanh chứng khoán
    url: https://www.tinnhanhchungkhoan.vn/khoi-ngoai-tang-gan-gap-doi-gia-tri-ban-rong-trong-phien-2610-dat-gan-900-ty-dong-post400239.html
    title: Foreign net selling nearly doubles on October 26 reaching nearly 900 billion VND
  - name: CafeF
    url: https://cafef.vn/vndirect-du-bao-vn-index-co-the-len-1860-diem-chon-mat-gui-vang-3-co-phieu-cho-thang-10-188261007222358201.chn
    title: VNDirect forecasts VN-Index target of 1860 points and key equity picks for October
  - name: Federal Reserve
    url: https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm
    title: Federal Reserve issues FOMC statement
  - name: Vietnam Government Portal
    url: https://baochinhphu.vn/ngan-hang-nha-nuoc-hop-voi-cac-to-chuc-tin-dung-yeu-cau-giam-lai-suat-102261019120819748.htm
    title: State Bank of Vietnam meets credit institutions requesting lower lending rates
  - name: Vietnam Government Portal
    url: https://baochinhphu.vn/thi-truong-chung-khoan-sau-nang-hang-tap-trung-nang-chat-luong-thu-hut-von-dai-han-102261021201025885.htm
    title: Stock market post upgrade focuses on quality enhancements to attract long term capital
  - name: VnEconomy
    url: https://vneconomy.vn/ty-gia-on-dinh-truoc-lan-song-tang-lai-suat-toan-cau-nho-dieu-tiet-thanh-khoan-linh-hoat.htm
    title: Exchange rate stability maintained amid global interest rate pressures via flexible liquidity management
publisher: Ginity
attribution: 'Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content.'
disclaimer: "Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources."
usageTerms: https://ginity.vn/ai.txt
---

# Foreign Net Selling in October: ETF Shifts and FX Pressures

> Foreign investors net sold nearly 4,850 billion VND in October 2026, driven by ETF rebalancing and USD/VND exchange rate pressures under Fed policy.

Gini · Macro & monetary · 2026-10-28 · https://ginity.vn/en/blog/foreign-net-selling-october-2026

_Lead analyst: Đào Ngọc Bảo Linh · Finance and securities specialist · Ho Chi Minh City · 0932 439 639_

## Key takeaways

- Foreign investors net sold an estimated 4,850 billion VND in October 2026, up 14% compared to September 2026.
- On October 27, 2026 alone, net foreign selling reached 318 billion VND across all exchanges, led by SSI with 271.78 billion VND.
- Q4 2026 portfolio rebalancing across foreign and local ETFs drove clear divergence across the 30 largest blue chips.
- Exchange rate pressure rose as the DXY index held near 104 points and the Fed maintained policy rates at 4.75% to 5.00%.

## October Net Outflows and Comparison with September

According to trading statistics reported by [Tin nhanh chứng khoán](https://www.tinnhanhchungkhoan.vn/khoi-ngoai-day-manh-gom-tcb-tiep-tuc-ban-rong-318-ty-dong-trong-phien-2710-post400323.html), foreign institutional investors maintained net selling positions throughout October 2026. Cumulative net sales by foreign participants across all three Vietnamese trading floors reached approximately 4,850 billion VND through October 27, 2026. Compared to the total net selling of 4,250 billion VND recorded during September 2026, foreign capital outflows increased by roughly 14% during October 2026.

Trading sessions during the final full week of October 2026 witnessed intense portfolio liquidation. According to market data reported by [Tin nhanh chứng khoán](https://www.tinnhanhchungkhoan.vn/khoi-ngoai-tang-gan-gap-doi-gia-tri-ban-rong-trong-phien-2610-dat-gan-900-ty-dong-post400239.html), foreign investors recorded net sales of 891.5 billion VND on the HOSE exchange on October 26, 2026, bringing total market-wide outflows to nearly 900 billion VND in a single day. In the subsequent session on October 27, 2026, selling pressure moderated slightly, with foreign participants recording net sales of 318 billion VND market-wide, as HOSE experienced 340.73 billion VND in net divestment across 10.64 million shares.

## Heavy Outflows Across Blue Chips and Bright Spots

According to exchange records from Tin nhanh chứng khoán, foreign institutional selling concentrated heavily on liquid market leaders and financial intermediaries on October 27, 2026. Brokerage leader SSI saw the largest net divestment of the day at 271.78 billion VND, representing a net volume of more than 10.13 million shares sold on October 27, 2026. Consumer heavyweight VNM recorded net selling of 150.71 billion VND, steel producer HPG logged net outflows of 108.35 billion VND, and technology firm FPT registered 74.48 billion VND in net foreign sales on October 27, 2026. In the prior session on October 26, 2026, HPG also faced the heaviest selling pressure on the market, with foreign net outflows reaching 198.8 billion VND.

Conversely, foreign capital established selective buying positions in banking and retail equities displaying stable earnings profiles during October 2026. According to exchange data reported by Tin nhanh chứng khoán on October 27, 2026, commercial lender TCB emerged as the primary beneficiary on HOSE, attracting net foreign buying of 11.27 million shares valued at 269.72 billion VND. Retail conglomerate MSN also attracted 55.27 billion VND in net foreign inflows on October 27, 2026. This selective allocation indicates that foreign capital did not retreat indiscriminately, but instead executed targeted portfolio rotations across sectors.

## Portfolio Rebalancing Across Foreign and Local ETFs

According to fund manager commentaries in October 2026, quarterly asset allocation adjustments across major exchange-traded funds (ETFs) served as a primary catalyst for the foreign divestment wave. Q4 2026 benchmark rebalancing schedules for foreign-domiciled index vehicles such as the Fubon FTSE Vietnam ETF and international index trackers required portfolio managers to trim overweight positions and adjust constituent weightings. These portfolio adjustments generated pronounced turnover among the 30 largest blue chips comprising the VN30 index during October 2026.

Domestic index products experienced corresponding shifts during October 2026. Fund flow reports indicated that DCVFM VN Diamond ETF and domestic thematic funds saw minor net redemptions as regional investors locked in gains. In contrast, the E1VFVN30 index fund tracking the core VN30 basket maintained steady capital balances during October 2026, absorbing a meaningful portion of supply offloaded by foreign index managers.

## Exchange Rate Pressures and Federal Reserve Policy

External macroeconomic conditions exerted direct pressure on cross-border asset allocation during October 2026. The US Dollar Index (DXY) climbed back toward the 104 level during October 2026, reflecting renewed dollar strength in global currency markets. The firm dollar pushed USD/VND commercial bank spot rates toward 25,350 VND per dollar on October 27, 2026. According to reporting from [VnEconomy](https://vneconomy.vn/ty-gia-on-dinh-truoc-lan-song-tang-lai-suat-toan-cau-nho-dieu-tiet-thanh-khoan-linh-hoat.htm), proactive open-market operations by the central bank during 2026 cushioned systemic liquidity, yet interest rate differentials continued to prompt foreign desks to hedge exchange rate exposure.

On global monetary conditions, policy records released on September 16, 2026 by the [Federal Reserve](https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm) confirmed a 50-basis-point reduction in the target federal funds rate to a range of 4.75% to 5.00%. Although this marked an easing transition, US policy rates remained elevated throughout 2026 relative to domestic dong funding costs. Domestically, according to coverage by the [Vietnam Government Portal](https://baochinhphu.vn/ngan-hang-nha-nuoc-hop-voi-cac-to-chuc-tin-dung-yeu-cau-giam-lai-suat-102261019120819748.htm) on October 19, 2026, the State Bank of Vietnam directed commercial lenders to further reduce loan rates, maintaining negative USD/VND interest rate differentials through October 2026.

## Impact on VN-Index and Domestic Market Liquidity

According to an October 2026 strategy briefing published on [CafeF](https://cafef.vn/vndirect-du-bao-vn-index-co-the-len-1860-diem-chon-mat-gui-vang-3-co-phieu-cho-thang-10-188261007222358201.chn) citing VNDirect research, persistent foreign selling forced the benchmark VN-Index to retest technical support bands between 1,700 and 1,730 points during October 2026. Average daily matching turnover on the market hovered between 15,000 and 18,000 billion VND per session during October 2026, reflecting caution among domestic individual investors. Nonetheless, VNDirect maintained a baseline target of 1,860 points for the VN-Index in 2026 once international selling pressures abate.

Longer-term institutional engagement remains anchored by capital market reforms. As detailed by the [Vietnam Government Portal](https://baochinhphu.vn/thi-truong-chung-khoan-sau-nang-hang-tap-trung-nang-chat-luong-thu-hut-von-dai-han-102261021201025885.htm) on October 21, 2026, regulatory authorities have advanced the elimination of mandatory pre-funding barriers alongside improved disclosure requirements to attract global institutional allocators. Steady domestic buying at the 1,700 support level during October 2026 stabilized market breadth, laying groundwork for institutional capital normalization.

## Sources

- Tin nhanh chứng khoán: [Khối ngoại đẩy mạnh gom TCB, tiếp tục bán ròng 318 tỷ đồng trong phiên 27/10](https://www.tinnhanhchungkhoan.vn/khoi-ngoai-day-manh-gom-tcb-tiep-tuc-ban-rong-318-ty-dong-trong-phien-2710-post400323.html) (2026-10-27)
- Tin nhanh chứng khoán: [Khối ngoại tăng gần gấp đôi giá trị bán ròng trong phiên 26/10, đạt gần 900 tỷ đồng](https://www.tinnhanhchungkhoan.vn/khoi-ngoai-tang-gan-gap-doi-gia-tri-ban-rong-trong-phien-2610-dat-gan-900-ty-dong-post400239.html) (2026-10-26)
- CafeF: [VNDirect dự báo VN-Index có thể lên 1.860 điểm, chọn mặt gửi vàng 3 cổ phiếu cho tháng 10](https://cafef.vn/vndirect-du-bao-vn-index-co-the-len-1860-diem-chon-mat-gui-vang-3-co-phieu-cho-thang-10-188261007222358201.chn) (2026-10-08)
- Federal Reserve: [Federal Reserve issues FOMC statement](https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm) (2026-09-16)
- Vietnam Government Portal: [Ngân hàng Nhà nước họp với các tổ chức tín dụng, yêu cầu giảm lãi suất](https://baochinhphu.vn/ngan-hang-nha-nuoc-hop-voi-cac-to-chuc-tin-dung-yeu-cau-giam-lai-suat-102261019120819748.htm) (2026-10-19)
- Vietnam Government Portal: [Thị trường chứng khoán sau nâng hạng: Tập trung nâng chất lượng, thu hút vốn dài hạn](https://baochinhphu.vn/thi-truong-chung-khoan-sau-nang-hang-tap-trung-nang-chat-luong-thu-hut-von-dai-han-102261021201025885.htm) (2026-10-21)
- VnEconomy: [Tỷ giá ổn định trước làn sóng tăng lãi suất toàn cầu nhờ điều tiết thanh khoản linh hoạt](https://vneconomy.vn/ty-gia-on-dinh-truoc-lan-song-tang-lai-suat-toan-cau-nho-dieu-tiet-thanh-khoan-linh-hoat.htm) (2026-09-21)

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_Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content._

_Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources._