Foreign investors’ net stock purchase hits $50 mln

The green color returned to the Vietnamese stock market Wednesday, with foreign investors' net purchase surging to VND1.2 trillion ($50 million).

After a deep dive Tuesday to 1,006 points, the lowest since December 2020 amid market downtrend, Vietnam’s benchmark VN-Index reversed Wednesday with improved investor sentiment.

The index, which represents the Ho Chi Minh Stock Exchange (HoSE), closed the day at 1,034.81, up nearly 29 points or 2.84%, with 616 million shares changing hands for about VND11.5 trillion ($480 million).

The bourse saw 386 gainers and 96 losers. Particularly, 27 out of 30 blue chips closed above the reference price.

The VN30, which tracks 30 largest stocks by market capitalization and liquidity, increased by more than 33 points or 3.32% to 1,034.93.

Banking stocks dominated the group of gainers, with ACB of Asia Commercial Bank, STB of Sacombank, BID of BIDV bank, CTG of Vietinbank, and MBB of Military Bank hitting their ceiling prices. Steel, securities, real estate, retail, seafood, and seaport stocks also showed positive performances.

On the Hanoi bourse, the HNX-Index gained 2.13%, while the unlisted public company market UPCOM-Index expanded 1.27%.

Foreign investors bought more than VND1.96 trillion worth of shares on the HoSE, while selling reached over VND730 billion, resulting in a net buying value of over VND1.2 trillion ($50 million).