return icon Vietnamnet.vn

Share purchases by foreign investors hit record

In the week from November 28 to December 2, the Vietnamese stock market saw foreign investors’ net purchases reaching VND9.15 trillion, raising the total net purchase since early November to VND20.2 trillion.
The stock market is expected to receive stronger domestic cash flow in 2023.

This was a rapid net purchase with a big volume not seen over the last 22 years.

Foreign investors focused on key shares belonging to VN30 group, but they also bought others, though many shares have recovered by 50 percent from their bottom. The VN Index increased by 24 percent, from 873 points on November 16 to 1,080 points on December 2.

On December 2, foreign investors’ purchase of Sacombank shares reached 13.5 million, totaling VND280 billion, even when the shares had increased by 49 percent over November, thus helping push STB prices up to the ceiling level. 

They bought 15.3 million shares of Hoa Phat Steel (HPG), though its price increased by 65 percent over the last two weeks, from VND11,800 on November 15 to VND19,450/share. They also bought, more than they purchased, millions of shares of Vinhomes (VHM), VietinBank (CTG), SSI, Khang Dien Housing, with a total value of VND2.2 trillion.

The net purchase worth nearly VND10 trillion within one month has never occurred in the last four years. However, the prices of many shares were still low. Many shares dropped by 80-90 percent from their peaks when the market and businesses faced weak liquidity.

The stock market is expected to receive stronger domestic cash flow in 2023.

In recent months, share prices have decreased sharply and the VN Index fell from a peak of 1,520 points in early April to 873 points on November 16. Foreign investors had six months of net purchases out of the total nine months.

Foreign investors sold more than they bought in July, September and October, totaling VND5.4 trillion, but bought more than they sold in the remaining months, totaling VND25.7 trillion.

The best known names are funds from Taiwan (China), Thailand, and South Korea. Some funds bought a high number of Vietnam’s shares such as Fubon, VNM DR Diamond and Dragon Capital.

Manh Ha

MORE NEWS

FDI hoped to help realty market develop sustainably in long term

Vietnam’s real estate sector last year attracted an additional 1.85 billion USD in foreign direct investment (FDI), retaining its second place among industries drawing FDI with combined investment of 4.45 billion USD.

Party chief’s book on fight against corruption and negative phenomena released

A ceremony was held in Hanoi on February 2 to release the book by General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong.

Make in Vietnam drives ICT firms into international markets

Global expansion has become a trend in domestic ICT enterprises in recent years.

Schools launch digital-related majors to meet students’ needs

In 2023, many universities have launched new subjects associated with the digital era to meet students’ needs.

Southeast region prepares for new FDI wave

The southeast region is preparing conditions in infrastructure, administrative procedures and human resources to welcome a new wave of foreign direct investment (FDI), as investors have flocked to the region from the beginning of this year.

VIETNAM NEWS HEADLINES FEBRUARY 2/2023

PM chairs monthly teleconference with localities

Experts call for stricter penalties as drink driving soars over Tet

The maximum punishment for car drivers with alcohol concentration levels exceeding 0.4mg per litre of breath, or 80mg in 100 ml of blood, is a fine of VND40 million (US$1,693) and a two-year suspension of their driving licences.

Over 32% of apparel firms remain closed in Hanoi

Nearly a third of textile and garment firms have yet to reopen in Hanoi although the Lunar New Year holiday has ended.

Domestic tourism hits five-year high

Domestic tourism numbers hit 13 million in January, the highest in the last five years, according to the Vietnam National Administration of Tourism.

VIETNAM BUSINESS NEWS FEBRUARY 2/2023

Businesses exporting medicinal herbs to China required to register

Cashless payments on the rise: convenience and security for expats in Vietnam

As digital payment methods surge in popularity, expats in Vietnam are not alone in embracing the change to cashless transactions.

My Dinh Stadium needs money for more upgrading

Having been upgraded with a package worth VND408 billion, My Dinh Stadium is still in poor condition.

Vietnam needs more submarine cables to ensure internet services

Vietnam will need at least two or three more submarine cables to ensure proper internet services for the country's development in the next five years, according to Vu The Binh, Secretary-General of the Vietnam Internet Association.

Government convenes January meeting

The Government convened its first regular monthly meeting for 2023 in Ha Noi on Thursday under the chair of Prime Minister Pham Minh Chinh.

Scammers steal information, money on first days of Year of the Cat

The first days of the New Year are the time for scammers to increase their activities. The most common tricks are stealing information and money from victims’ accounts.
back_to_top