Foreign capital ‘inches back’ to Vietnam stock market: analysts
Le Xuan Nghia, Vietnam’s top banking expert, said his biggest hope when it comes to Vietnam’s stock markets this year is the return of foreign investors.
Foreign capital is showing signs of returning to Vietnam’s stock market after net selling was a dominating trend last year and in the first months of this year, analysts said.
Foreign investors’ aggregate net selling in the year to date was VND8.8 trillion ($385 million), down 25% year-on-year, accordingo to Yuanta Securities Vietnam.
“The net selling tends to decline. Foreign investors’ activities are returning in the first months, with rising interest in Vietnamese companies,” Nguyen The Minh, the Ho Chi Minh City-based firm’s chief analyst told a forum on stock market prospects, hosted by The Investor, on Tuesday.
But Minh noted that investment funds will still exercise caution due to geopolitical tensions following the Russia-Ukraine conflict and uncertainties over the Fed’s rate hike plans.
“Given the strong volatility and unpredictable risks, they might not buy in immediately. But we are hopeful and optimistic given the new signs, especially as our economy is reopening.”
Billions from net selling ‘are here to stay’
Le Xuan Nghia, Vietnam’s top banking expert, said his biggest hope when it comes to Vietnam’s stock market this year is the return of foreign investors.
“Their net selling was over $3 billion, but our research on the foreign exchange market shows that the money remains here, on their accounts,” Nghia, head of the Business Development and Research Institute, told the forum.
He stressed that if the country’s macro fundamentals are strong, like an inflation rate of less than 4% (while many countries might see 10%), an economic expansion of around 5.5%, good FDI growth, and especially a stable forex rate which has been so over the past three years, foreign investors will come back.
"Looking at Vietnam’s economic fundamentals and vaccination coverage, I believe foreign investors will prefer to stay here, rather than elsewhere. I expect they will return, contributing to the stability of the market this year and being a firm pillar for the market in 2022 and 2023.”
Nghia added that his research shows Fed is "pretty cautious" in raising interest rates and the hike level might be very low, just 0.25% at a time. “Only when a single hike is up to 0.5%, capital would possibly fly back to the U.S.”
“My expectation is the market this year is positive, though it could not rally like last year.”
Vu Bang, former chairman of State Securities Commission, said the net selling of foreign investor was $3 billion, but the actual outflight was less than $1 billion. “The remaining $2 billion remains on their accounts or has been invested in the primary market, in Vietnamese companies.”
Bang noted that capital outflight is a global trend in recent years, and the Ukraine-Russia conflict might fasten the shifting, which will negatively impact on countries. But that’s also an opportunity for Vietnam."
"Vietnam has a high vaccination coverage, and its economic stimulus is actively deployed, especially toward infrastructure and digital technology. Those elements will catch the eyes of foreign investors.”
Vietnamese investors have shrugged off concerns over foreign investors’ continual net selling since last year. Domestic retail investors opened 1.5 million trading accounts in 2021, up 50% against the total of the period 2017-2020. The tally keeps rising this year to 405,980 in the first two months.
Vietnam’s stock market is assessed as one of the 10 stock markets with the best resilience to the Covid-19 pandemic and best recovery in 2020. VN-Index set new peaks in 2021. At the end of 2021, the major index closed at 1,498.28 points, up 35.7% against the end of 2020 and is considered one of the world’s stock indexes with highest growth.
As of December 28, 2021, the market capitalization reached nearly VND7,729 trillion ($337.7 billion), up 46% against the end of 2020, equivalent to 122.8% of GDP in 2020 and 92% of GDP in 2021.
The market capitalization continued to rise slightly in the first two months of 2022, reaching nearly $340 billion as of February 28, 2022, up 0.2% compared to the end of 2021 and equivalent to 92.6% of GDP.
- Read More
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap
Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.
Finance - Tue, October 21, 2025 | 10:27 pm GMT+7
Indonesia’s palm oil industry becomes investment magnet
Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.
Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7
Indonesia reports strong job, investment growth
The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.
Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7
Singapore grants conditional approval for 1GW low-carbon power import from Malaysia
Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.
Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7
Margin lending in Vietnam’s stock market hits record, but not worrisome
Despite margin debt in Vietnam’s stock market surging sharply, experts believe that current margin pressure is not yet a major concern as top securities firms have significantly strengthened their capital buffers.
Finance - Tue, October 21, 2025 | 4:23 pm GMT+7
Lenders in Vietnam now in low-rate lending race: ACB exec
The biggest “headache” for banks in Vietnam now is that profit margins are getting thinner, said CEO of Asia Commercial Bank (ACB) Tu Tien Phat.
Banking & Finance - Tue, October 21, 2025 | 4:00 pm GMT+7
PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry
Over the past 35 years of establishment and development (1990-2025), PV Gas, a subsidiary of state-owned giant Petrovietnam, has affirmed its pioneering position in Vietnam’s gas industry, marked by a series of groundbreaking achievements in science and technology.
Companies - Tue, October 21, 2025 | 3:45 pm GMT+7
Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months
F88 Investment JSC (F88), a leading consumer finance company in Vietnam, reported a cumulative pre-tax profit of VND603 billion ($22.88 million) in the first nine months of 2025, a 2.5-fold increase year-on-year, reaching 90% of its full-year target of VND673 billion.
Companies - Tue, October 21, 2025 | 3:15 pm GMT+7
Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery
With Q3 earnings season underway, results are expected to come in broadly in line with expectations. Financials should remain the largest contributors, benefiting from credit expansion and trading activity, while real estate continues to recover as project launches and sales rates improve, writes Tung Dang, associate director at Dragon Capital.
Economy - Tue, October 21, 2025 | 2:33 pm GMT+7
Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub
The 16.5-hectare Tan Cang-Moc Bai inland port in Tay Ninh province, southern Vietnam has been opened, offering logistics services and handling customs clearance for imports and exports.
Infrastructure - Tue, October 21, 2025 | 12:03 pm GMT+7
State-managed property trading centers will help curb speculation, price manipulation: expert
Establishment of state-managed real estate trading centers is expected to create a transparent transaction channel, helping control and limit speculation and price manipulation in the Vietnamese market.
Real Estate - Tue, October 21, 2025 | 8:37 am GMT+7
Vietnam's benchmark VN-Index records sharpest drop in 25-year history
VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), saw the sharpest decline in its 25-year history on Monday, down by 94.76 points, or 5.47%, to 1,636.43.
Finance - Mon, October 20, 2025 | 5:49 pm GMT+7
Construction contractor Coteccons sets record FY2026 targets, capital base hike via share issue
Coteccons Construction JSC (HoSE: CTD), one of Vietnam’s largest construction contractors, has set ambitious targets for its fiscal year 2026, driven by a record order backlog and its push into international markets.
Companies - Mon, October 20, 2025 | 4:50 pm GMT+7
Real estate, gold markets to be fully established by 2026: Prime Minister
Vietnam plans to complete comprehensive legal framework for its financial, real estate, and gold markets by 2026 as part of a broader effort to modernize market infrastructure and accelerate economic growth, said Prime Minister Pham Minh Chinh.
Finance - Mon, October 20, 2025 | 3:33 pm GMT+7
Vietnam breaks ground on nation’s most advanced domed stadium in Hung Yen province
Vietnam’s Ministry of Public Security has broken ground on a 60,000-seat domed stadium in the northern province of Hung Yen, set to become the country’s most technologically advanced sports venue.
Society - Mon, October 20, 2025 | 2:48 pm GMT+7
Workforce and logistics - keys to sustainable e-commerce growth in Vietnam: experts
Businesses and online shop owners in Vietnam should pay greater attention to human resources and logistics, considering these factors “keys” to competitive advantage in the increasingly volatile e-commerce market, according to experts.
Economy - Mon, October 20, 2025 | 10:54 am GMT+7
- Consulting
-
Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery
-
Vietnam's International Financial Center ambition can unlock new wave of innovation
-
Vietnam’s rapid capital market reforms set to pay dividends in coming decades
-
VN-Index valuation might offer '15-20% upside' in next 12-18 months
-
Opportunities for breakthrough growth in industrial and residential real estate in Hanoi’s satellite provinces
-
The six-year switch: The rise of multi retirements
















