Korean investors turn into net buyers of Vietnamese stocks
Investors of the Republic of Korea (RoK) were net buyers of stocks in Vietnam, at US$9.1 million, in the first 11 days of August, over four times higher than the net buying of US$2.12 million in July, according to the Korea Securities Depository (KSD).
Korean investors were net sellers in Vietnam between March and June, but have turned into net buyers since July.
The trend was attributed to the Vietnamese Government’s cuts of interest rates, leading to increases in the stock market, mainly real estate stocks.
Improved performance of major enterprises is also a contributor. Vingroup, a leading conglomerate in the country, posted the second quarter’s revenue of over VND47.14 trillion (US$1.97 billion), a record high.
Experts forecast Vietnam’s stock market will continue rising. However, they also recommended investors pay attention to fluctuations in the market, which has soared from the start of the year so its momentum may ease by the year’s end.
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