Vietnam Foreign Flow: FPT Leads Net Buying as Market Sheds VND 1,575B

Overview

Foreign investors net sold VND 1,575 billion (roughly USD 63 million) of Vietnamese equities in the week of September 7-11, with the selling concentrated on HoSE. FPT Corp (HOSE: FPT) topped the net-buy list at VND 383 billion even as the VN-Index fell 3.12% over the week to close at 1,795.21. The divergence matters because it shows foreign money rotating out of banking and real estate names into technology, steel and selected conglomerates rather than exiting Vietnam wholesale.

Key Facts

• Foreign investors net sold VND 1,575 billion across the market for the week of September 7-11.
• By exchange: net sell of VND 1,638 billion on HoSE, net sell of VND 22 billion on HNX, net buy of VND 85 billion on UPCoM.
• FPT led net buying at VND 383 billion, followed by HPG at VND 257 billion and VIC at VND 157 billion.
• TCB attracted VND 151 billion and BSR VND 135 billion in net buying; DGW added VND 116 billion.
• VHM was the heaviest net-sold name at VND 689 billion, well ahead of STB at VND 334 billion and VCB at VND 230 billion.
• CTG (VND 220 billion), MBB (VND 189 billion) and SHB (VND 138 billion) also saw material net selling.
• VPB, DXG and TCX were net sold VND 130 billion, VND 117 billion and VND 103 billion respectively.
• The VN-Index closed the week at 1,795.21, down 57.87 points or 3.12% week-on-week.

What Happened

Foreign investors returned to net buying on Thursday, September 10, but reversed sharply on the final session of the week with close to VND 1,000 billion of net selling, according to market statistics cited by Nhịp sống thị trường. The week opened under heavy pressure, with the VN-Index quickly losing the 1,870-point mark, and sector-level money flows stayed fragmented through subsequent sessions.

On a per-ticker basis, FPT recorded VND 383 billion of net buying, the strongest of any Vietnamese listing that week, followed by HPG at VND 257 billion and VIC at VND 157 billion. TCB and BSR also drew meaningful foreign demand at VND 151 billion and VND 135 billion, with DGW rounding out the notable buyers’ list at VND 116 billion. On the sell side, VHM dominated at VND 689 billion, far ahead of STB at VND 334 billion and VCB at VND 230 billion, while CTG, MBB and SHB each saw net outflows above VND 130 billion. The article does not break out individual session figures beyond the Thursday buy and Friday sell.

Market Context

FPT closed at VND 72,700 on September 11 on HOSE, with HPG at VND 21,300, TCB at VND 31,600 and VIC at VND 243,300. The week’s foreign selling landed against a broad index decline, with the VN-Index losing 3.12% and the technology, steel, real estate, banking, energy and retail sectors all represented on the flow lists. The pattern is a rotation rather than a uniform exit: banking and residential real estate names absorbed the bulk of outflows, while FPT, HPG and VIC attracted fresh foreign demand.

Strategic Significance

For long-term investors, the week’s flow data reinforces FPT’s position as a core foreign holding in the Vietnamese technology sector, with net buying of VND 383 billion arriving even as the wider market sold off. The concentration of selling in VHM, STB, VCB, CTG, MBB and SHB suggests foreign portfolios are trimming bank and property exposure rather than reducing Vietnam weightings overall, which is consistent with a preference for earnings visibility in export-linked technology and selected industrial names. The VND 1,575 billion weekly net-sell figure is modest relative to typical monthly foreign turnover, so the signal is about composition, not scale.

What to Watch

• Daily foreign flow data for the week of September 14-18 to see whether the Friday sell-off extends or reverses.
• Whether FPT sustains net buying through the next reporting window, given its VND 72,700 close on September 11.
• Further net-selling in VHM, STB and VCB, which would confirm a sustained reduction in bank and property exposure.
• HoSE and HNX foreign-ownership filings for the affected tickers.
• VN-Index behaviour around the 1,795 support level after the 3.12% weekly decline.