Foreign investors have withdrawn nearly VND14,000 billion from the Vietnamese stock market since the beginning of the year. Of which, FPT is the stock with the strongest net selling with nearly VND2,300 billion.
Foreign investors continue to be net sellers in the Vietnamese stock market - Photo: QUANG DINH
Foreign funds usually make net purchases in January every year, as this is the time for restructuring portfolios of global investment funds. However, in the first month of this year, foreign investors still sold a net 144 million shares in the Vietnamese market.
Since the beginning of the year, foreign investors have withdrawn nearly VND14,000 billion after setting a record with net sales of VND93,000 billion last year.
Data shows that FPT was the stock that foreign investors sold the most in the first period of 2025 with nearly VND2,300 billion. Accordingly, the foreign ownership ratio in this stock decreased to more than 44.6%, the lowest level in many years.
At the same time, this once hot stock because of the tight foreign room is now "open" by more than 4%. FPT's net selling is not a new phenomenon. This move from foreign investors started last year when the shares of Mr. Truong Gia Binh's group continuously set new price records.
According to 2024 data, FPT shares have surpassed their previous peak price 42 times, bringing the group's market capitalization on the stock market to over VND210,000 billion (over USD8 billion). The sale of shares by foreign investors comes from many different reasons, which can be due to profit-taking, portfolio restructuring, etc.
In addition, investment funds tend to invest in large-cap stocks, especially foreign funds. Therefore, the portfolio that is most heavily sold by foreign investors is often large-cap stocks (bluechips).
By 2025, FPT's growth momentum had stalled right after the Tet holiday due to concerns about DeepSeek. The "shock" of DeepSeek had shaken global investors due to a wave of sell-offs in US technology stocks.
Investors are concerned that DeepSeek's low-cost artificial intelligence (AI) model in the Chinese market will threaten the dominance of leading names in this field such as Nvidia.
Meanwhile, FPT code of FPT Corporation is a stock that grew strongly last year when combining many factors, including NVIDIA.
FPT's $200 million investment in the strategic cooperation agreement with NVIDIA will be disbursed over five years, helping FPT become a service provider in NVIDIA's global system integration network.
What do securities companies say about FPT stocks?
In the analysis report on the potential of FPT shares, VPBanks Securities analysis team also worried that the risk of this corporation's cooperation projects with NVIDIA is lower than expected.
However, VPBanks report still considers FPT a stock to "hold". They give reasons such as impressive growth in after-tax profit and expected continued expansion of after-tax profit margin thanks to effective sales activities.
According to ABS Research, FPT has the advantage of having abundant cash and low debt. As of December 31, 2024, FPT's total assets reached VND 72,013 billion.
Of which, cash and deposits accounted for 43% of total assets, reaching VND31,100 billion (up 27.5% over the same period), mainly due to investments held to maturity increasing by 35%, to VND21,785 billion.
Source: https://tuoitre.vn/co-phieu-fpt-bi-khoi-ngoai-ban-rong-manh-nhat-san-chung-khoan-ho-room-lon-nhat-nhieu-nam-20250217210721588.htm
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