FPT shares are the most heavily sold by foreign investors on the stock exchange, with the biggest 'room gap' in many years.

Foreign investors have withdrawn nearly 14,000 billion VND from the Vietnamese stock market since the beginning of the year. Of these,FPT was the stock with the strongest net selling, at nearly 2,300 billion VND.

Foreign investors continue to be net sellers in the Vietnamese stock market - Photo: QUANG DINH

Foreign funds typically buy net in January each year, as this is the period when global investment funds restructure their portfolios. However, in the first month of this year, foreign investors still sold net 144 million shares in the Vietnamese market.

Since the beginning of the year, foreign investors have withdrawn nearly 14,000 billion VND after setting a record with net sales of 93,000 billion VND last year.

Data shows that FPT was the stock most heavily sold by foreign investors in early 2025, with nearly 2,300 billion VND. Consequently, the percentage of foreign ownership in this stock decreased to just over 44.6%, the lowest level in many years.

At the same time, the stock, which was once very hot due to its limited foreign ownership, now has more than 4% more room for foreign investors. The net selling of FPT shares is not a new phenomenon. This trend from foreign investors began last year when the shares of the group owned by Mr. Truong Gia Binh continuously set new price records.

According to 2024 data, FPT shares have surpassed their previous peak 42 times, pushing the group's market capitalization above 210,000 billion VND (over 8 billion USD). The selling of shares by foreign investors stems from various reasons, possibly including profit-taking and portfolio restructuring.

	Net selling value
FPT	2226
VIC	2000
VNM	1487
STB	695
MSN	687
SSI	666
FRT	640
VCB	621
CTG	572

Furthermore, investment funds tend to invest in large-cap stocks, especially foreign funds. Therefore, the portfolios most heavily sold off by foreign investors are usually large-cap (blue-chip) stocks.

In 2025, FPT's growth slowed down right after the Lunar New Year holiday due to concerns about DeepSeek. The DeepSeek "shock" rattled global investors, triggering a wave of sell-offs in technology stocks in the US.

Investors are concerned that DeepSeek's low-cost artificial intelligence (AI) model in the Chinese market will threaten the dominance of leading players in the field, such as Nvidia.

Meanwhile, FPT Group's stock code was a strong growth stock last year due to a combination of factors, including NVIDIA.

FPT's $200 million investment in the strategic cooperation agreement with NVIDIA will be disbursed over 5 years, making FPT a service provider partner in NVIDIA's global system integration network.

What do securities companies say about FPT shares?

In their analysis report on the potential of FPT shares, the VPBanks Securities analysis team also expressed concern that the risks associated with the company's collaborations with NVIDIA were lower than expected.

Nevertheless, VPBank's report still considers FPT a stock worth "holding." They cite reasons such as impressive after-tax profit growth and the expectation of further expansion of after-tax profit margins thanks to efficient sales operations.

According to ABS Research, FPT has the advantage of having abundant cash reserves and low debt levels. As of December 31, 2024, FPT's total assets reached VND 72,013 billion.

Of that, cash and cash deposits accounted for 43% of total assets, reaching VND 31,100 billion (a 27.5% increase compared to the same period last year), mainly due to a 35% increase in investments held to maturity, reaching VND 21,785 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