Foreign Investors Net Sell VND 916B on May 8, Heaviest on FPT, VHM, ACB

Overview

Foreign investors net sold approximately VND 916 billion (~USD 36.6 million) on May 8, with the bulk of selling concentrated on three VN30 constituents: FPT, VHM, and ACB. The selling pressure on HOSE reached VND 905 billion, while HNX recorded a small net inflow. The data underscores persistent foreign divestment from large-cap Vietnamese equities.

Key Facts

• Foreign investors net sold VND 916 billion (~USD 36.6 million) on May 8.
• On HOSE, net selling totaled VND 905 billion.
• FPT was the most sold stock, with net selling of VND 445 billion.
• VHM followed with net selling of VND 267 billion.
• ACB saw net selling of VND 138 billion.
• MSB also faced selling pressure of VND 110 billion.
• On HNX, foreign investors net bought VND 1.55 billion, with PVI leading at VND 7 billion.
• On UPCOM, net selling was VND 13 billion, led by ACV at VND 15 billion.

What Happened

According to exchange data, foreign investors continued their net selling streak on May 8, offloading a total of VND 916 billion across all three exchanges. The selling was heavily concentrated on HOSE, where net outflows reached VND 905 billion. The top three sold stocks were FPT (VND 445 billion), VHM (VND 267 billion), and ACB (VND 138 billion), all members of the VN30 index. In contrast, HNX saw a modest net inflow of VND 1.55 billion, with PVI and IDC attracting the most foreign buying. On UPCOM, net selling was VND 13 billion, led by ACV.

Market Context

FPT closed at VND 75 on April 15, 2026, down 1.31% on volume of 9.5 million shares. VHM closed at VND 138, up 6.83% on volume of 6.25 million shares. ACB closed at VND 24, down 0.62% on volume of 6.45 million shares. The heavy foreign selling in these large-cap stocks comes amid a broader market uptrend, with the VN-Index rising nearly 6 points to 1,915 on May 8. The divergence between foreign selling and domestic buying highlights ongoing foreign portfolio rebalancing.

Strategic Significance

The persistent foreign net selling in FPT, VHM, and ACB suggests that international investors are reducing exposure to Vietnamese large caps, possibly due to global rate expectations or valuation concerns. FPT, as a leading technology stock, may be particularly sensitive to foreign sentiment shifts. The selling in VHM, a real estate giant, could reflect concerns about the property sector’s recovery pace. ACB, a major bank, faces headwinds from margin compression. The modest buying on HNX indicates selective interest in smaller-cap names.

What to Watch

• Upcoming foreign ownership limit changes or ETF rebalancing announcements.
• Q2 2026 earnings reports for FPT, VHM, and ACB, due in July.
• SBV policy rate decisions and their impact on banking stocks like ACB.
• Weekly foreign flow data to see if selling pressure persists.
• Any large block trades or strategic stake sales by foreign shareholders.