If the market manages to establish a more apparent upward trend in the coming time, which is expected to take place in 2024, then a more positive outlook will open up, possibly leading to a reversal in the moves of foreigners. Pressure from foreign investors Foreign investors were net sellers for 14 consecutive trading days from November 29 to December 18, with a total value of more than VND8.6 trillion. Overall, foreigners have made net withdrawals of over VND22 trillion in the year to date. This figure, albeit quite considerable, is still far from the record high of VND57.8 trillion established in 2021, the period when the stock market at home reached its peak. Notably, not until April did the net selling trend among foreign investors really begin this year, for this was the time Vietnam started to relax its policies again via reductions in some operating interest rates, causing the interest rate level in the inter-bank market to continue falling. Therefore, the aforesaid move by foreign investors probably makes their domestic counterpart wonder, especially when the exchange rate between the U.S. dollar and the dong has remained more stable this year, compared to 2022. In this regard, analysts ascribe […]
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