HSBC Calling for Foreign Investment into Vietnam's Stock Market

The HongKong & Shanghai Banking Corp. (HSBC) is calling for foreign investment into Vietnam through a two-day seminar on investment opportunity in Vietnam held in Singapore in response to increasing interest from foreign investors.

 

More than 30 international investors, including Aberdeen Asset Management, DBS Asset Management, Alliance Capital and European Investors Inc., who are seeking business opportunities in Vietnam arrived in Singapore to attend the seminar opened November 22.

 

The seminar discussed on the future and development of Vietnam’s financial market, habits of equity investment in Vietnam, government policies and the stock market.

 

“The Vietnamese market is starting to come onto the radar of the top-tier international investment institutions at last,” HSBC said.

 

The local stock market has hit the scale for large global funds as its trading value reached about VND1 trillion a day, in which the proportion of foreign trading accounts for between 40 per cent and 60 per cent of total market value. In October, the foreign purchases hit the record value of US$150 million, HSBC said in its recent report.

 

As the end of the third quarter, the total market value of two local bourses reached US$29 billion, equal to 35 per cent of the country's GDP, and is expected to hit US$40 billion by the end of this year, a local securities firm said.

 

Vietnam's economy is forecast to grow between 8.5 per cent and 9 per cent next year, WB and HSBC forecast. (Vneconomy)