Foreign investors buy more Vietnamese stocks than they sell in January. (Photo: VNA)Hanoi (VNA) – Foreign investors bought more Vietnamese stocks thanthey sold in January, snapping a month-long streak as net buyers afteroffloading shares in the last five months of 2019.
The foreign players’ net purchase of equity on Vietnam’s stock exchangesamounted to some 1.97 trillion VND (84.4 million USD) in the month. Theytransacted more than 20.6 trillion VND worth of Vietnamese shares, accountingfor 15.68 percent of the market’s total transactions.
Targeted stocks in the month include PetroVietnam Low Pressure Gas Distribution(PGD), Mobile World Corporation (MWG), Hoa Phat Group (HPG), Vietinbank (CTG),and dairy firm Vinamilk (VNM). Net foreign buys of the five stocks were 1.02trillion VND, 588 billion VND, 433 billion VND, 170.6 billion VND, and 166billion VND, respectively.
Becoming net buyers on Vietnamese stock exchanges, foreign players have showntheir rising confidence in the nation’s economy and investment opportunities inits stock market, especially in the context of global stock market volatility.
Securities firms have forecast a brighter outlook for the local stock marketthis year. They said Vietnam would have more opportunities to lure foreigncapital on the back of robust economic growth, and the revised securities lawwhich is expected to help upgrade the market’s status.
Experts from the SSI Securities Corporation (SSI) said that foreign tradingactivities will increase this year thanks to many supporting factors,especially the exchange-traded funds (ETFs).
Besides, the global provider of benchmarks, analytics and data solutions FTSERussell is considering to upgrade Vietnam to secondary emerging market statusfrom a frontier one. However, Vietnam needs to work more to meet criteria onpayment required for its status upgrade.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HOSE), VN Index’s VNXAllshare, and the VN30-Index finished January at 936.62, 816.56 and 848.63points, decreasing 2.54, 3.43, and 3.46 percent, respectively. The local marketwas moving sideways with the global market, which is whacked by the novel coronavirusoutbreak./.
The foreign players’ net purchase of equity on Vietnam’s stock exchangesamounted to some 1.97 trillion VND (84.4 million USD) in the month. Theytransacted more than 20.6 trillion VND worth of Vietnamese shares, accountingfor 15.68 percent of the market’s total transactions.
Targeted stocks in the month include PetroVietnam Low Pressure Gas Distribution(PGD), Mobile World Corporation (MWG), Hoa Phat Group (HPG), Vietinbank (CTG),and dairy firm Vinamilk (VNM). Net foreign buys of the five stocks were 1.02trillion VND, 588 billion VND, 433 billion VND, 170.6 billion VND, and 166billion VND, respectively.
Becoming net buyers on Vietnamese stock exchanges, foreign players have showntheir rising confidence in the nation’s economy and investment opportunities inits stock market, especially in the context of global stock market volatility.
Securities firms have forecast a brighter outlook for the local stock marketthis year. They said Vietnam would have more opportunities to lure foreigncapital on the back of robust economic growth, and the revised securities lawwhich is expected to help upgrade the market’s status.
Experts from the SSI Securities Corporation (SSI) said that foreign tradingactivities will increase this year thanks to many supporting factors,especially the exchange-traded funds (ETFs).
Besides, the global provider of benchmarks, analytics and data solutions FTSERussell is considering to upgrade Vietnam to secondary emerging market statusfrom a frontier one. However, Vietnam needs to work more to meet criteria onpayment required for its status upgrade.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HOSE), VN Index’s VNXAllshare, and the VN30-Index finished January at 936.62, 816.56 and 848.63points, decreasing 2.54, 3.43, and 3.46 percent, respectively. The local marketwas moving sideways with the global market, which is whacked by the novel coronavirusoutbreak./.
VNA
