Foreign players net sell $46.4 mln worth of Vietnam equities this week

Foreign investors continued to net sell on the Vietnamese stock market this week, to the tune of VND1,178 billion ($46.43 million) as the U.S. dollar extended its strengthening.

They were net sellers of VND1,043 billion ($41.11 million) on the Ho Chi Minh Stock Exchange (HoSE) and VND193 billion on the Hanoi Stock Exchange (HNX), but net bought VND74 billion on the Unlisted Public Company Market (UPCoM), exchange data showed.

On the HoSE, HPG of steelmaker Hoa Phat Group was the most sold, with VND301 billion ($11.86 million). Foreigners also net sold VND211 billion of fund certificates of FUEVFVND, VND154 billion of fast-moving consumer goods maker Masan Group (MSN) shares, and VND142 billion of Sacombank (STB) shares.

On the other side, they net bought VND349 billion ($13.76 million) worth of VPBank (VPB) shares, VND212 billion worth of retailer Mobile World (MWG) shares, and VND156 billion worth of Techcombank (TCB) shares.

So far this month, overseas players have been net sellers of VND2.49 trillion ($98.15 million) of Vietnamese securities on the HoSE, VND807.47 billion on the HNX, and VND205.87 billion on the UPCoM.

The VN-Index, which tracks the HoSE, continued to fail to conquer the 1,300 threshold during the week, falling 0.37% to 1,252.72 on Friday. During the week, the gauge lost 32.74 points or 2.55%.

Petri Deryng, portfolio manager of the Finland-based PYN Elite Fund, said in a note on Friday that the USD/VND exchange rate has fluctuated during 2024, down in the spring, up in the summer, and now down again in October.

“When the value of the dong against the dollar has weakened, stock market sentiment has almost always weakened. This has also been the case now, as dong has weakened by 3.5% against the dollar in three weeks,” he added.