Foreign and Proprietary Traders Net Sell VND 1.7 Trillion on April 23; FPT Leads

Overview

On April 23, foreign investors and proprietary trading desks both executed heavy net selling, with foreign net selling exceeding VND 1.7 trillion (approximately USD 68 million). FPT (HOSE) led the sell-off among foreign investors, while PVT and VNM saw modest net buying. The selling pressure was broad-based, hitting banking stocks and other large-cap names.

Key Facts

• Foreign investors net sold over VND 1.7 trillion on April 23.
• FPT was the top net sold stock by foreign investors, with net selling of VND 265 billion.
• Other heavily sold stocks included ACB, VCB, CTG, VPB, VHM, VRE, GEX, BSR, and MWG.
• PVT and VNM were the top net bought stocks by foreign investors, with net buying of VND 55-70 billion each.
• Proprietary trading desks net sold nearly VND 480 billion, with SHB being the top net sold (VND 300 billion).
• MWG was the top net bought by proprietary desks, but only VND 50 billion.
• FPT closed at VND 75 on April 15, down 1.31% from the previous session.

What Happened

According to market data for the April 23 trading session, foreign investors net sold more than VND 1.7 trillion, with selling concentrated in large-cap and banking stocks. FPT led the sell-off with net selling of VND 265 billion. Other notable names in the sell-off included ACB, VCB, CTG, VPB, VHM, VRE, GEX, BSR, and MWG. On the buying side, PVT and VNM were the top net bought stocks, but the buying amounts were modest at VND 55-70 billion each.

Proprietary trading desks also net sold nearly VND 480 billion, with SHB being the primary target of selling (VND 300 billion). MWG was the top net bought by proprietary desks, but only VND 50 billion. The data indicates a broad-based risk-off sentiment among both foreign and domestic institutional investors.

Market Context

FPT, listed on HOSE, closed at VND 75 on April 15, down 1.31% from the prior session. The stock has been under pressure recently amid foreign selling. The broader market has seen increased volatility, with foreign investors turning net sellers across multiple sectors, particularly banking and technology. The VN-Index has been range-bound, and the selling pressure from foreign and proprietary desks adds to the cautious sentiment.

Strategic Significance

The coordinated selling by foreign and proprietary desks suggests a shift in short-term sentiment, possibly driven by global risk-off factors or profit-taking after recent gains. For FPT, the persistent foreign selling may weigh on the stock in the near term, but the company’s fundamentals remain strong. The modest buying in PVT and VNM indicates selective interest in energy and consumer staples, which may offer defensive characteristics.

What to Watch

• Continued foreign selling in FPT and other large-cap stocks in the coming sessions.
• Any reversal in foreign flows driven by macro events or earnings announcements.
• Proprietary trading activity, especially in SHB and MWG, as a gauge of institutional sentiment.
• The VN-Index’s ability to hold support levels amid the selling pressure.
• Q1 2026 earnings reports for FPT and other affected tickers, which could influence investor sentiment.