Foreign Net Selling Hits FPT Hardest on April 24 as VN-Index Drops 0.91%

Overview

Foreign investors intensified net selling on April 24, with FPT (HOSE) bearing the brunt of outflows. The VN-Index dropped 0.91% to 1,853.29, driven by weakness in real estate and technology stocks. Net foreign selling on HOSE reached VND 1,933 billion, with FPT, ACB, VCB, and VHM among the most sold.

Key Facts

• VN-Index fell 17.07 points (-0.91%) to 1,853.29; HNX-Index dropped 0.51% to 251.95.
• Foreign investors net sold VND 1,933 billion on HOSE and over VND 2 billion on HNX.
• FPT was the most net-sold stock on HOSE at VND 414.65 billion.
• Other heavily sold stocks on HOSE: ACB (VND 278.51B), VCB (VND 240.21B), VHM (VND 132.31B).
• On HNX, top net-sold stocks included SHS (VND 14.94B), IDC (VND 4.77B), HUT (VND 2.33B), and TNG (VND 1.43B).
• Real estate sector fell 1.76%, led by VHM (-5.23%), VIC (-1.12%), and KSF (-1.79%).
• Technology sector dropped 1.19%, with FPT down 1.21%, CMG -1.94%, and VEC -1.57%.
• Trading volume on HOSE reached 568 million shares, value VND 17.3 trillion.

What Happened

On April 24, the Vietnamese stock market experienced a broad decline, with the VN-Index closing at 1,853.29, down 0.91%. The HNX-Index also fell 0.51%. Foreign investors continued their net selling streak, with total net outflows on HOSE exceeding VND 1,933 billion. FPT was the most sold stock, with net selling of VND 414.65 billion, followed by ACB (VND 278.51 billion), VCB (VND 240.21 billion), and VHM (VND 132.31 billion). On HNX, net selling was modest at over VND 2 billion, concentrated in SHS, IDC, HUT, and TNG.

The real estate sector was the worst performer, dropping 1.76%, with VHM falling 5.23%. The technology sector declined 1.19%, with FPT losing 1.21%. The market’s breadth was negative, with 417 decliners versus 362 advancers. The VN30 basket saw 21 stocks decline, 8 advance, and 1 unchanged.

Market Context

FPT (HOSE) closed at VND 75 on April 15, down 1.31% with high volume. The stock has been under persistent foreign selling pressure, reflecting broader concerns about valuation and sector rotation. The VN-Index’s decline on April 24 extended its recent pullback from the 1,900 level, with foreign net selling amplifying the downturn. The technology sector, a key driver of the market’s rally earlier in the year, is now facing profit-taking and foreign outflows.

Strategic Significance

The sustained foreign net selling in FPT and other blue chips suggests a shift in foreign investor sentiment, possibly due to global risk-off factors or profit-taking after strong gains. FPT’s fundamentals remain solid, but the persistent selling pressure could weigh on the stock in the near term. The real estate sector’s weakness, particularly VHM, indicates ongoing concerns about the property market recovery. For long-term investors, the key question is whether this foreign outflow is a temporary correction or the start of a more prolonged trend.

What to Watch

• Foreign net selling data in the coming sessions to see if the trend intensifies or reverses.
• FPT’s Q1 2026 earnings release for any impact on fundamentals.
• VN-Index support level at 1,850 and potential rebound catalysts.
• Policy signals from the State Bank of Vietnam regarding interest rates or credit growth.
• Sector rotation: whether technology and real estate continue to underperform or stabilize.