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Tuesday, June 25, 2024

April sees foreign investment in Vietnam’s securities down

The Saigon Times

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HCMC – Foreign investment in Vietnam’s securities in April plunged by nearly half versus its peak in 2022 and hit a 12-month low.

Foreign investors bought over VND17.8 trillion worth of stocks, fund certificates and warrants listed on the Hochiminh Stock Exchange (HOSE), while they sold securities worth around VND20.6 trillion.

This means that nearly VND2.8 trillion has been withdrawn by foreign investors from the stock market.

Sacombank (STB) came under the strongest selling pressure, with foreign investors net selling over VND1.1 trillion worth of STB shares, followed by other large-cap stocks such as VND, VNM and DGC. However, they net injected around VND700 billion into shares of steelmaker HPG.

The Hanoi exchange and the Unlisted Public Company Market also faced the same issue.

According to Yuanta Securities, following a strong net injection in late 2022 and early 2023, foreign capital has tapered off and may be channeled to other markets such as Korea, Taiwan and India.

However, the trend has not been confirmed as net foreign capital inflow in the stock market in the first four months of the year amounted to more than VND3 trillion, according to HOSE.

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