Foreign Investors Buy US$62.5 Mln Vietnamese Shares Recently

Foreign investors spent nearly VND1 trillion (US$62.5 million) buying over 15 million shares and investment certificates from April 7 and 11, the record figure so far this year.

 

The figure is much higher than the record of VND720 billion they bought from March 10 and 14.

 

Foreign investors reported their stronger purchases when the VN-Index fell 40.8 per cent compared to the last trading session in 2007 with the VNI at 927.02 points.

 

The market is very attractive for the long-term investment at this time, the top criteria of foreign investors, said securities analyst Le Dat Chi. They could not buy shares in previous sessions due to the limited supply on the narrow stock trading band of 1 per cent on HOSE and 2 per cent on HASTC from March 27 to April 4, he noted.

 

The increase in buying volume of foreign investors can be attributable to the cheap prices and their expectations on the government’s market supportive policies, said Deputy General Director of Bao Viet Securities Co. Pham Quang Huy.

 

Foreign investors also expect that Vietnam’s inflation will become less tense in the second quarter, Huy said, predicting that the local stock market in the coming time will depend much on the world’s economy, especially the U.S. (Youth, VNA)