Leading technology stocks on Vietnam's exchange, including FPT, CMG and VNZ, have all fallen sharply from their record highs. FPT's market capitalization is about VND 105,000 billion, its lowest since August 2023; CMG is trading near its lowest level since September 2021; and VNG's market value is about VND 16,000 billion. The article says the rapid growth of AI, especially cheaper AI models that reduce demand for outsourcing services, may be one reason foreign investors have pulled back, with FPT net sold by more than VND 16,000 billion since early 2026, the second-largest net sale on the exchange. FPT's leadership has repeatedly said AI will reshape rather than replace IT services, and the group's workforce across its ecosystem reached nearly 90,000 people as of 30 September 2026, up 3,682 from the end of 2025.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Nỗi buồn cổ phiếu công nghệ trên sàn chứng khoán Việt Nam
Keywords
FPTartificial intelligenceforeign investorssoftware
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Related tickers and likely impact
FPT
▼ Likely negativeFPT Corp
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Technology |
| Industry | Computer Services |
| Market cap | 105,601 bn VND |
| P/E | 10.6 |
| P/B | 2.65 |
| Close on 10/27/2026 | 55.40 |
| Change that session | -1.07% |
VNINDEX
▼ Likely negativeRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/27/2026 | 1,761.87 |
| Change that session | -0.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- FPT: Rebirth or Miscalculation?
FPT rose 1.4% to VND 57,100 per share on October 14, ending a streak of 15 consecutive sessions without a gain. However, foreign investors still net sold nearly VND 550 billion, extending nine consecutive sessions of net selling. Since the start of 2026, foreign investors have net sold more than VND 15,000 billion of FPT shares, pushing foreign ownership below 28%. The company's market capitalization has halved from its record high at the end of January 2025, now at about VND 108,000 billion. BIDV Securities (BSC) said FPT could be removed from the VN-Diamond basket if average foreign ownership fails to exceed 37% during October 2026 to March 2027. However, in the first eight months of the year, revenue rose 13.5% to VND 35,408 billion and pre-tax profit rose 17.5% to VND 7,648 billion, while new contracts signed in international markets reached VND 33,285 billion, up more than 28%.
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- Market Pulse 23/10: VN-Index Sustains Recovery Momentum as Foreign Investors Return to Net Selling of Over VND 470 Billion
VN-Index rose 13.52 points (+0.77%) to 1,774.15 points, while HNX-Index gained 1.62 points (+0.62%) to 262.70 points. Market breadth was fairly balanced, with 357 stocks advancing and 352 declining, while the VN30 basket had 20 gainers and 10 decliners. Liquidity rose from the previous session, with VN-Index matched volume exceeding 640 million shares, worth over VND 14.1 trillion. The financial sector led gains at 1.22%, while the communication services sector fell the most at 1.06%. Foreign investors returned to net selling of over VND 478.05 billion on HOSE, concentrated in ACB (VND 469.4 billion), FPT (VND 146.43 billion) and PNJ (VND 109.53 billion).
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