Foreign investors have net sold a total of VND3.4 trillion (US$147.7 million) in the last 20 trading days.
Foreign investors have net sold a total of VND3.4 trillion (US$147.7 million) in the last 20 trading days. — Photo saigondautu.com.vn
Net foreign selling was attributed to worries about the downtrend of the global economy amid the spread of the novel coronavirus.
Foreign capital has been flowing out of the Vietnamese market since the country returned from Tet holiday on January 30.
Foreign investors offloaded a net value of VND227 billion of local stocks on Monday.
Net selling on the Ho Chi Minh Stock Exchange and the Ha Noi Stock Exchange hit VND231 billion.
Foreign selling targeted consumer firm Masan (MSN), property developer Vingroup (VIC), steel producer Hoa Phat (HPG) and Post and Telecommunications Insurance JSC (PTI).
But foreign investors net-bought stocks worth VND4.2 billion on the Unlisted Public Company Market (UPCoM).
Top buys on UPCoM included the Airports Corporation of Vietnam (ACV) and the Vietnam Engine and Machinery Corp (VEA). — VNS
The Vietnamese stock market would struggle to hold on to its threshold as analysts are afraid the market sentiment could worsen after new coronavirus-infected cases were reported over the weekend.
It is expected the Vietnamese stock market will be less volatile in March compared to the previous months.