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Wednesday, July 17, 2024

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Foreign investors prefer bonds over stocks

While foreign investors remain net sellers on the stock market, they shifted to net buying bonds in May, reversing their overall status from net sellers to net buyers in the first five months of this year. Net selling of stocks The persistent interest rate gap between the Vietnamese dong and the U.S. dollar has put pressure on the dong-dollar exchange rate. In the first five months of this year, the Vietnamese currency depreciated by up to 5% against the dollar. Similar trends have been observed in other economies, where currencies have plunged against the dollar due largely to the U.S. Federal Reserve’s indication that it will not lower interest rates in the near future. Escalating geopolitical tensions have intensified global economic and trade uncertainties, prompting investors to withdraw capital from riskier assets. Recent weeks have seen international shipping rates soar as shipping lines have been redirecting their ships away from the conflict-ridden Red Sea, indicating ongoing trade disruptions and congested supply chains. Under these circumstances, foreign investors have become net sellers in emerging stock markets, including Vietnam. In May alone, foreign investors net sold VND19 trillion worth of shares, with more than VND15.6 trillion sold via the Hochiminh Stock Exchange […]
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