Ha Noi (VNA) - The world stock market in the last two weeks is blamed for the decline in foreign investors' transactions in Viet Nam 's stock market this week, securities analysts said.
The Ho Chi Minh City Stock Exchange (HoSE) reported that foreign investors bought 2.3 million shares worth 367 billion VND so far this week compared with 5 million shares worth 667.3 billion VND last week.
At the Ha Noi Securities Trading Centre, foreign investors spent 88 billion VND for 760,800 shares while they reportedly did pour 175 billion USD in 2 million shares last week.
Over last two weeks, the world stock markets experienced a strong fluctuation. London 's FTSE 100 index fell 120 points at the opening session on August 10. The leading Dow Jones Industrial Average stock barometer on the New York Exchange slumped to below 13,000 points on August 15, marking a record decline in recent years.
Asian stock markets on August 15 underwent a massive slump. The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares tumbled 369.00 points to end at 16,475.61, the lowest closing level since
December 8, 2006.
Trinh Viet Cuong, senior advisor to the Japanese Okasan Securities Company, said "foreign investors opted a wait and see approach as they are confusing about the future of the market."
Nguyen Kim Tung, Management Director of the Indochina Capital Fund, one of foreign funds investing in the Vietnamese stock market, explained that foreign financial funds and institutions have always tried to minimise the risks stemming from stock investments so their intended short-term investment in newly-emerging markets like Viet Nam are affected.
However, in the week, foreign investors bought more than they sold, the move that analysts judged as a positive sign. On the Ha Noi Securities Trading Centre, foreign investors sold 244,100 shares worth 29 billion VND, accounting for one-third of the volume changing to their hands.-Enditem
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