Stock market pins hopes on foreign investors in September
In August, net selling by foreign investors exceeded a combined VND1.4 trillion (nearly US$59.7 million) on the Ho Chi Minh Stock Exchange and the Hanoi Stock Exchange, a sharp drop from the VND2.4 trillion (US$102.3 million) in July.
This helped ease selling pressure and create conditions for the benchmark VN-Index on the HCM Stock Exchange to regain 3.5% last month.
Experts said money flow did not grow strongly but was mainly circulated among groups of stocks. Therefore, it will be difficult for the market to move further without a sudden change in money flow.
Although there haven’t been any signs the selling trend among foreign investors will halt, many large-cap stocks recorded net buying instead of net selling in August, especially consumer goods stocks like MSN (VND286 billion), VJC (VND237 billion) and HPG (VND206 billion).
Lapointe said the stock market will have to rely on foreign investors, though they are still prudent as inconsistent moves by US President Donald Trump have triggered worries about global economic instability.
Some experts forecast the VN-Index will stand at about 960 – 1,040 points in September as the US Federal Reserve is likely to raise interest rates this month.
Middle- and small-cap stocks will bring more opportunities for investors compared to large-cap ones, they noted.
Regarding government bonds, the Rong Viet Securities Corporation said in a recent report that the issuance of G-bonds seems to have encountered obstacles, and it will be hard to reach this year’s issuance target of VND200 trillion (US$8.5 billion).
By the end of August, VND106 trillion (US$4.5 billion) worth of G-bonds had been successfully issued, representing 53% of the target. G-bonds with 10- and 15-year terms were more attractive to investors thanks to relatively high pidends, while the issuance of other bonds with longer terms was not so positive.
This fact is contrary to what happened in 2017, when sales of G-bonds with 20- and 30-year terms surpassed targets, the report said.
Related News
Warn about the fraudulent tricks of stock investment
16:30 | 07/05/2024 Finance
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Effective inspection and supervision - a key factor for a transparent stock market
11:41 | 06/04/2024 Finance
Many positive signals from stock market upgrade
10:06 | 08/04/2024 Finance
Latest News
SBV ready to intervene to stabilise foreign exchange rate: Deputy Governor
15:41 | 08/05/2024 Finance
State budget revenue estimated at VND733.4 trillion
14:40 | 06/05/2024 Finance
Six localities should expedite site clearance and public investment
10:36 | 05/05/2024 Finance
Banks announce plans to significantly increase capital
15:11 | 04/05/2024 Finance
More News
Minister of Finance Ho Duc Phoc receives Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam
13:47 | 04/05/2024 Finance
Banks strengthen information security systems
14:55 | 03/05/2024 Finance
“Opportune environment” for growth of insurance enterprises
10:15 | 03/05/2024 Finance
Closely monitoring fluctuations to calculate the appropriate time to adjust prices
15:35 | 02/05/2024 Finance
Strictly monitor market fluctuations to appropriately adjust prices
14:46 | 27/04/2024 Finance
Closely monitoring market fluctuations to consider appropriate time to adjust prices
09:30 | 26/04/2024 Finance
How does the Land Development Fund work effectively?
09:19 | 26/04/2024 Finance
Vietnam seeks to remove obstacles in upgrade of securities market
13:50 | 25/04/2024 Finance
Price stability from supply increase and transparency in trading in gold market
09:42 | 25/04/2024 Finance
Your care
SBV ready to intervene to stabilise foreign exchange rate: Deputy Governor
15:41 | 08/05/2024 Finance
Warn about the fraudulent tricks of stock investment
16:30 | 07/05/2024 Finance
State budget revenue estimated at VND733.4 trillion
14:40 | 06/05/2024 Finance
Six localities should expedite site clearance and public investment
10:36 | 05/05/2024 Finance
Banks announce plans to significantly increase capital
15:11 | 04/05/2024 Finance