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Foreign investors have bought US$337.35 million of local stocks in the first six months of 2014.— Photo xaluan.com
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HA NOI (Biz Hub) — A sharp increase in net foreign purchases of local stocks in the first six months shows that the Vietnamese market is experiencing positive growth in the current difficult period.
Foreign investors carried out net purchases worth VND7.084 trillion or $337.35 million of local stocks, which was 2.8 times more than in the second half of 2013 and 62 per cent more year over year.
The best-selling stocks for foreign investors included Vingroup (VIC) and PetroVietnam Gas JSC (GAS) in the HCM City stock exchange and Vinaconex JSC (VCG), PetroVietnam Technical Services Corporation (PVS), Vndirect Securities (VND) and Kim Long Securities (KLS) in the Ha Noi Stock Exchange.
On the other hand, foreign investors mostly sold shares of the Petrovietnam Fertilizer and Chemicals Corporation (DPM), the Hoang Anh Gia Lai Group (HAG) and Tien Phong Plastic JSC (NTP).
Currently, there are about 662 companies listed on the two national stock exchanges in Viet Nam. Despite the global economic and political difficulties in general, and the current tension in the East Sea between Viet Nam and China in particular, the local stock market reported better results.
On June 30, the VN-Index stood at 578.13 points, a year-on-year increase of 14.6 per cent and the HNX-Index also rose by 14.9 per cent to stand at 77.93 points. The State Securities Commission (SSC) announced that the local stock market raised VND127 trillion or US$6 billion in the first six months of this year, up 3 per cent year over year. — VNS