Vietnam Stocks Fall as FPT Drops on AI Valuation चिंता

FPT was the biggest drag from foreign investors’ perspective, with net selling of 151 billion dong, and the stock dropped nearly 4% to 50,800 dong, its lowest level since July 2023. The move came as tech shares weakened across global markets, after the Nasdaq 100 plunged 6.4% in the prior session and erased about $2.3 trillion in market value, the steepest drop on record for the tech-heavy gauge.

That global shock mattered for Vietnam because FPT has become a proxy for local technology exposure and a bellwether for growth stocks. The company’s decline also highlights how quickly overseas sentiment can reverse for high-multiple names when Wall Street’s AI trade comes under pressure, even if domestic flows are supportive.

The foreign buying was concentrated elsewhere, with Khang Dien House trading (KDH) drawing the largest net inflow at 171 billion dong, followed by VND, VIX, MSN and VIC. Real estate names were among the stronger performers, with KDH rising 5.2% to 15,100 dong on volume nearly four times its recent average, while VND jumped 5.3% for a third straight gain.

Banks and blue chips remained under pressure, with VCB among the heaviest net sold names and VIC and VHM also weighing on the index. The market’s split showed investors rotating into beaten-down property and brokerage stocks while stepping back from technology and other large caps.

The near-term focus is whether foreign inflows can persist after the long selling streak, and whether FPT can stabilize if global tech shares recover. For now, the session points to a market still highly sensitive to swings in Wall Street’s AI trade and to shifts in foreign capital flows.