Foreign Net Sell VND 5,000B in Vietnam Stocks: FPT Top Sold at VND 928B

Overview

Foreign investors net sold nearly VND 4,816 billion (approx. USD 192.6 million) on Vietnamese exchanges in the week of April 20-24, according to exchange data. FPT was the most sold stock at VND 928.2 billion, followed by ACB and VCB. The selling pressure was concentrated on large-cap stocks across banking, real estate, and energy sectors.

Key Facts

• Foreign investors net sold VND 4,816 billion across all three exchanges in the week of April 20-24.
• On HoSE, net selling reached VND 4,670 billion; on HNX, VND 123 billion; on UPCoM, VND 23 billion.
• FPT was the most sold stock, with net selling of VND 928.2 billion.
• ACB saw net selling of VND 549.0 billion, and VCB net selling of VND 526.0 billion.
• Other heavily sold stocks include VHM (-VND 301.2B), VPB (-VND 223.6B), BSR (-VND 189.0B), BID (-VND 184.3B), CTG (-VND 178.9B), GAS (-VND 112.0B), PVD (-VND 104.0B), KDH (-VND 82.0B), and PLX (-VND 82.0B).
• On the buying side, HPG led with net buying of VND 209.0 billion, followed by MSN (VND 169.8B) and MWG (VND 166.9B).

What Happened

During the trading week of April 20-24, foreign investors continued their net selling streak across all three Vietnamese exchanges, totaling nearly VND 4,816 billion. The selling was heaviest on HoSE, where foreign net selling amounted to VND 4,670 billion. FPT emerged as the top sold stock, with net selling of VND 928.2 billion, far exceeding other names. ACB and VCB followed with net selling of VND 549.0 billion and VND 526.0 billion, respectively.

Despite the foreign selling, the VN-Index rose 36.12 points (+1.99%) week-on-week to close at 1,853.29 points, supported by gains in Vingroup stocks and some construction names. However, selling pressure from foreign investors weighed on large-cap stocks such as VNM, FPT, and GAS.

Market Context

FPT (HOSE) closed at VND 75 on April 15, down 1.31% with volume of 9.5 million shares. The stock has been under foreign selling pressure for several weeks, reflecting broader concerns about valuation and sector rotation. ACB (HOSE) closed at VND 24, down 0.62%, while VCB (HOSE) closed at VND 60, up 1.01%. The foreign net selling in the week was broad-based, affecting banking, real estate, and energy stocks, but HPG, MSN, and MWG attracted net buying.

Strategic Significance

The persistent foreign net selling highlights a cautious stance by international investors toward Vietnamese equities, possibly driven by global risk-off sentiment, currency concerns, or profit-taking after recent gains. The concentration of selling in FPT, a high-growth technology stock, may indicate valuation concerns or sector rotation. Meanwhile, net buying in HPG, MSN, and MWG suggests selective interest in steel, consumer staples, and retail names. The divergence in foreign flows across sectors underscores the importance of stock-specific factors in the current market environment.

What to Watch

• Weekly foreign flow data for the following weeks to see if the selling trend continues or reverses.
• FPT’s Q1 2026 earnings report and any guidance updates that could affect foreign investor sentiment.
• Movements in the USD/VND exchange rate and any SBV policy actions that may influence foreign capital flows.
• Changes in foreign ownership limits for FPT and other heavily sold stocks.
• Sector performance of banking and real estate stocks, which also saw significant foreign selling.