Foreign Investors Net Buy $7.5 Million of Vietnamese Shares Last Week

Foreign players net purchased $7.5 million worth of Vietnamese equities last week when two offshore ETFs reviewed their holdings.

Overseas players net spent 170.8 billion dong ($7.5 million) worth of Vietnamese shares in the week ended March 17 when two foreign-run exchange-traded funds (ETFs) restructured their portfolios although they unloaded a net volume of 65.6 million shares.

On the Ho Chi Minh City Stock Exchange (HOSE), foreign traders net bought a total of 225.4 billion dong ($9.9 million) last week as Market Vectors Vietnam ETF and FTSE Vietnam UCITS ETF reshuffled their holdings.

Foreigners net purchased 3.76 million shares worth 612 billion ($26.8 million) of FLC Faros Construction (ROS) during the week. Meanwhile, they unloaded 3.93 million shares of KIDO Group (KDC) as the Market Vectors Vietnam ETF reduced the holding. 

London-based FTSE Russell added ROS, HBC, DXG to its FTSE Vietnam Index, the underlying index for db x-trackers FTSE Vietnam UCITS ETF, run by Deutsche Bank, in the first quarterly review of 2017.  

Meanwhile, five tickers namely KDC, PVT, PDR, HVG and HQC were removed from the basket for calculation of the index.

MV Index Solutions (MVIS) added Vietnamese real estate developer Novaland (NVL) to the Market Vectors Vietnam Index, the benchmark index for the Market Vectors Vietnam ETF.

On the Hanoi Stock Exchange (HNX), foreign players net sold 54.6 billion dong ($2.4 million) last week after weeks of net buying.

The VN Index closed the week at 710.54 points, down 0.2% from a week earlier while the HNX Index edged up 0.3% to 88.38 points.

Tuan Minh / BizLIVE