Foreign Net Selling Intensifies on FPT and VHM; VIC Sees Inflows

Overview

On April 16, foreign investors were net sellers on the Vietnamese stock market, with the strongest selling pressure concentrated on FPT and VHM. Meanwhile, VIC recorded net buying, partially offsetting the overall outflow. The divergent foreign flows highlight shifting sentiment among large-cap stocks in the technology, real estate, and securities sectors.

Key Facts

• Foreign investors were net sellers on April 16, with strong net selling on FPT and VHM.
• VIC saw net buying from foreign investors on April 16, helping to offset some selling pressure.
• On April 14, divergent foreign and proprietary trading flows were observed, notably in HPG and VIC.
• FPT closed at VND 75 on April 15, down 1.31% with volume of 9.5 million shares.
• VHM closed at VND 138 on April 15, up 6.83% with volume of 6.3 million shares.
• VIC closed at VND 177 on April 15, up 6.95% with volume of 6.4 million shares.
• HPG closed at VND 28 on April 15, down 1.75% with volume of 27.5 million shares.

What Happened

According to market data reported by Vietstock, foreign investors were net sellers on the trading session of April 16. The net selling was concentrated in FPT and VHM, two of the largest stocks by market capitalization. However, net buying in VIC helped to partially balance the overall foreign outflow.

Earlier, on April 14, the flow of funds from proprietary trading desks and foreign investors showed clear divergence, with notable activity in HPG and VIC. The State Securities Commission also announced administrative sanctions against six enterprises between April 13-15, though the specific names were not disclosed in the article.

Market Context

FPT (HOSE) closed at VND 75 on April 15, down 1.31%, while VHM (HOSE) rose 6.83% to VND 138. VIC (HOSE) surged 6.95% to VND 177, and HPG (HOSE) fell 1.75% to VND 28. The foreign net selling on April 16 adds to recent volatility in large-cap stocks, with technology and real estate sectors experiencing mixed foreign sentiment.

Strategic Significance

The concentrated foreign selling on FPT and VHM suggests potential profit-taking or rebalancing by international investors, while the buying interest in VIC indicates continued foreign appetite for the conglomerate’s diversified holdings. The divergent flows on April 14 for HPG and VIC further underscore the selective nature of foreign investment, which may reflect differing views on sector outlooks—steel versus real estate and retail.

What to Watch

• Upcoming foreign ownership limit changes or ETF rebalancing announcements that could affect FPT and VHM.
• Q1 2026 earnings reports for FPT, VHM, VIC, and HPG to assess fundamental drivers.
• Further State Securities Commission enforcement actions that may impact market sentiment.
• Daily foreign flow data for sustained trends in net selling or buying.
• Policy developments in real estate and technology sectors that could influence foreign investor confidence.