The big man silently acted quickly, the No. 1 giant changed

FPT Joint Stock Company (FPT) has just announced a change in ownership of a group of foreign investors who are no longer major shareholders. Accordingly, a group of member funds under Dragon Capital sold FPT shares.

Specifically, Grinling International Limited sold 500,000 FPT shares; Venner Group Limited sells 500,000 FPT shares; Vietnam Enterprise Investments Limited sells 250,000 FPT shares.

After selling a total of 1.25 million FPT shares in a few days, Dragon Capital group has ceased to be a major shareholder of FPT since May 12. Currently, this group still holds nearly 49 million FPT shares, equivalent to 4,9067%.

After being no longer a major shareholder, Dragon Capital group can continue to sell FPT shares without registration.

FPT shares in the past month have fallen sharply, no longer maintaining the momentum against the market in the first half of April.

Before that, in about a month, from mid-March to mid-April 2022, FPT stock recorded a spectacular breakthrough, from the threshold of 90,000 VND/share to the historical peak of 117,000 VND/share.

However, this stock has fallen sharply in recent weeks, especially since May 11.

Before that, the shares of another large corporation also dropped sharply when sold by foreign investors. That is Hoa Phat Group (HPG) of billionaire Tran Dinh Long. HPG shares were continuously net sold by foreign investors in 2019.

HPG stock dropped sharply in 2019 and early 2020 after a group of foreign shareholders strongly sold this stock. In mid-March 2019, the fund group managed by Dragon Capital was no longer a major shareholder of Hoa Phat. At that time, experts assessed that 2019 was a challenging year for the global steel industry with weakening demand for steel in some industries and high iron ore prices.

However, by mid-2020, HPG stock was flying high again, increasing more than 3 times in more than a year and reaching a peak in early October 2021. The group of foreign shareholders then strongly bought this stock.

Recently when stock market In general, the Dragon Capital fund group sold more than 45 million HPG shares in the first 4 months of 2022, reducing its ownership rate to less than 5% and is no longer a major shareholder of Hoa Phat.

In the first 4 months of the year, HPG stock fluctuated in the price range of 40,000-50,000 VND/share, Dragon Capital group earned about 1,800-2,300 billion VND. HPG stock price is currently at 36,000 VND/share.

FPT or Hoa Phat are both leading enterprises in the industry in Vietnam. Many other leading enterprises also attracted the attention of foreign investors. Hoa Phat holds the No. 1 market share in Vietnam for construction steel, steel pipe, 32.6% and 24.7% respectively. Ton Hoa Phat is in the Top 5 largest manufacturers with 8%. Hoa Phat is also the only Vietnamese enterprise that can produce HRC.

In 2021, Hoa Phat Group recorded a revenue of 150.8 trillion dong, an increase of 65% compared to 2020. Profit after tax for the first time reached 34,520 billion dong, exceeding 92% of the year plan and increasing by 1.56 times with last year.

However, many foreign investment organizations buy and sell Vietnamese stocks continuously when the stock prices fluctuate very strongly, several tens of percent, even several times in a short period of time. This is also a feature in a marginal market, when foreign capital inflows are small and trading activities of individual shareholders are dominant, sentiment changes constantly.

bottom detection

According to BSC, the market fluctuated in a large range, showing that the bottom-finding process is not over yet. The next support level of VN-Index is 1,100 area.

SHS expects that if the negative scenario happens, the market’s downtrend will be slowed down when the VN-Index reaches the next support level of 1,100 points, maybe in this score area, signals to form the bottom of a strong correction. This will become more obvious .

At the current price level, SHS thinks it is attractive enough for long-term investors. However, the market is still in a downtrend that has not yet confirmed the bottom, so if investors are holding a high cash ratio and following the short-term trading school, they should not participate too soon in the market until the bottom is reached. adjustments are more clearly confirmed.

Closing the session on the afternoon of May 16, the VN-Index dropped 10.82 points to 1,171,954 points. HNX-Index of HNX-Index increased 4.66 points to 307.05 points. Upcom-Index dropped 0.42 points to 93.2 points. Liquidity reached a total of 16.5 trillion dong, of which 14.6 trillion dong was on HOSE.

V. Ha