VIBank said that Tran Nhat Minh, Deputy CEO of the bank, registered to buy 2 million VIB shares from November 21 to December 20, to increase his ownership ratio.

On November 14, Ho Van Long, another deputy CEO of the bank, also registered to buy 1.5 million VIB shares.

The two senior executives of the banks registered to buy shares after the bank submitted a plan to pay high dividends in cash. VIBBank reported a sharp rise in profit in Q3 and the lowest price so far this year.

With the current price of VND18,000 per share, they would have to pay about VND63 billion to acquire the shares they want.

Analysts say that senior executives of many enterprises buy shares in large quantities when share prices are sliding, which recently have seen rare low  price levels.

After Duc Giang Chemicals shares (DGC) decreased by 62 percent from VND140,000 in mid-June to VND53,200 on November 15, president Dao Huu Huyen registered to buy 1 million more of DGC shares from November 17 to December 16 in a plan to raise its ownership ratio to 18.38 percent. DucGiang’s capitalization value lost $1.2 billion over the last five months.

HOSE reported that Tran Huy Thanh Tung, CEO of Mobile World (MWG), has successfully acquired 500,000 MWG shares, raising his ownership ratio to 11.1 million units. Amersham Industries Limited bought 9.25 million of KDH shares of Nha Khang Dien, while Vietnam Enterprise Investment Limited 9.75 percent of KDH shares, and Vietnam Equity Fund 1 million shares of PetroVietnam Drilling (PVD).

Luong Tri Thin, president of DatXanh Group (DXG), has successfully acquired 15 million DXG shares.

Amid the sharp fall of the stock market, foreign investors are buying more than selling with a net purchase of VND6.8 trillion in the first half of November.  They mostly focused on bank shares.

The low prices of shares, stable macroeconomic conditions, high GDP growth rate, low inflation rate and stable exchange rate are why investors are buying shares.

On November 16, the VN Index increased by 31 points at the end of the trading session after dropping by 38 points to 870 points on the morning of the same day.

CSI commented that the reversal has brought a breath of fresh air to the stock market. The matching volume on November 16 was the highest in the past seven months.

Duy Anh