Foreign investors remain keen on Vietnamese stock markets
Ha Noi (VNA) - Foreign investors splurged more than 790 billion VND (49.4 million USD) on buying 7.8 million shares - the largest weekly transaction volume for the month - at the Ho Chi Minh City Stock Exchange from August 20-24.The figures marked huge increases over the last week that saw just 2.3 million shares worth 367 billion VND (23 million USD) purchased by investors from abroad.
During the first two weeks of August, more than 10 million shares valued at 660 billion VND (41.25 million USD) listed at the HOSE were picked up by overseas-based traders.
However, foreigners doled out a modest 84 billion VND (5.25 million USD) in purchasing over 862,000 shares at the Ha Noi bourse this week.
”Skyrocketing buys by foreign investors along with the mass purchases of Saigon Thuong Tin Commercial Bank’s STB shares proved that they had abandoned the wait-and-see policy and are ready to buy at anytime,” said Trinh Viet Cuong, a senior consultant from the Japanese Okasan Securities Company.
The view was shared by Indochina Capital Fund Director Nguyen Kim Tung who said foreign investors will remain regular buyers of Vietnamese stocks.
Indochina Capital estimated that the volume of shares bought by foreign investors in July accounted for 60 percent of the market’s total sales.-Enditem
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