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Ho Chi Minh City
Thursday, October 3, 2024

Struggling around 1,200 points

By Lao Trinh

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Despite the consistent economic growth trajectory, the stock market, often seen as a barometer of economic health, hovers around the 1,200-point mark. This suggests there may be some underlying structural issues within the market. Foreigners sell, individuals buy Foreign investors have been net sellers on the Hochiminh Stock Exchange, with more than VND60.4 trillion worth of shares offloaded from the beginning of 2024 to the end of July. This marks the fourth consecutive year of significant net selling, excluding the net buying observed in 2022. Back in 2019, foreign investors bought over VND142 trillion of shares, equivalent to about US$6.1 billion. However, by the end of last month, this figure had declined to around VND9.6 trillion, or nearly US$400 million. As of late July, foreign ownership in the market stood at around 17.2%, or over US$40 billion in market capitalization. After deducting the remaining principal capital of about US$400 million, it becomes evident that foreign investors have accumulated significant profits from their investments in Vietnam’s stock market over the years. In other words, foreign investors have made substantial profits from Vietnam’s stock market. Given their professional expertise and strategic focus on leading firms, such growth is understandable. However, the post-pandemic […]
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