Foreign investors withdraw $147.7m in 20 days

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Foreign investors withdraw $147.7m in 20 days

Vietnam News - 3/10/2020 1:35:35 PM

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Foreign investors have net sold a total of VNĐ3.4 trillion (US$147.7 million) in the last 20 trading days.

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 Tết holiday on January 30.

Foreign investors offloaded a net value of VNĐ227 billion of local stocks on Monday.

Net selling on the Hồ Chí Minh Stock Exchange and the Hà Nội Stock Exchange hit VNĐ231 billion.

Foreign selling targeted consumer firm Masan (MSN), property developer Vingroup (VIC), steel producer Hòa Phát (HPG) and Post and Telecommunications Insurance JSC (PTI).

But foreign investors net-bought stocks worth VNĐ4.2 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

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