Foreign net buying hits $122 mln in Q1/2011

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VietStock FI English - 44 month(s) ago 4 readings

Foreign net buying hits $122 mln in Q1/2011

Foreigners posted net purchase of over VND 2.55 trillion ($122 million) including VND2.005 trillion on Ho Chi Minh Stock Exchange (HoSE) and VND526 billion on Hanoi Stock Exchange (HNX).

But it was still a 33 percent year-on-year decrease since foreigners reported a net purchase of more than VND3.8 trillion, including VND3.35 trillion on HoSE and VND450 billion on HNX, in Q1/2010, according to newswire Cafef.

In general, foreigners are back to the tendency of net purchase after an interrupted period in February and March with the money inflow mainly poured into share codes such as CTG, DPM and PVD on the southern bourse.

CTG continued to draw the attention of foreigners with the biggest net purchase of 24.5 million units for VND688 billion. The total buying volume was 28.4 million shares and the total selling volume was VND3.9 million units.

Foreigners worried that the room for CTG-coded shares will be limited after the bank successfully offered shares to International Financial Corporation (IFC) and Bank of Nova Scotia. So they channeled the buying into CTG-coded shares.

Shares posting big net purchase are key stocks such as DPM (7.9 million units for VND310 billion), PVD (5.2 million shares for VND286 billion) and VCG (10 million units valued at VND214 billion).

Additionally, ITC also saw big net purchase with 4.65 million shares worth VND111 billion. The purchase was made mainly by Vietnam Azalea Fund under the Mekong Capital.

On the northern bourse, together with VCG, foreigners also bought PVS, VND and PVX.

Meanwhile, they offloaded shares like VIC (4.48 million shares for 488 billion dong), and the others such as STB (9.8 million for VND140 billion), DVD (4.22 million for VND72 billion) and SSI (2.11 million shares for VND56 billion).

Regarding net sale, foreigners offloaded 111,000 VIC-coded shares worth VND15 billion and 353,000 STB shares for VND4.9 billion.

Vietnam stock market During last week saw two noticeable transactions whereby domestic enterprises offered shares at high price to foreign investors.

Firstly, Masan Consumer, a subsidiary of Masan Group (MSN) offered 14.44 million shares to KKR Investment Group at a price of up to $159 million.

Secondly, FPT Securities finalized the offering of 11 million shares to SBI Securities (Japan) - priced at VND45,000 per share.

Amongst listed share codes of securities companies, HCM reached the highest market price of VND22,500 per share.

In the banking sector, Fullerton Financial Holding, an investment unit of Temasek, bought 15 percent stake into Mekong Development Bank (MDB) at the offering price of VND20,000 per share.

CII also issued $25 million of convertible bonds for Goldman Sachs and is proceeding to offer another $15 million to this foreign partner.

There were only three trading sessions, so the net purchase value of foreigners remained low at only VND94 billion on HoSE and VND31 billion on Hanoi Stock Exchange (HNX) due to long public holiday last week.

Two week earlier, on the southern bourse alone, the foreigners posted net buy at VND220 billion and VND431 billion respectively.

Some share codes showed high attractiveness such as PVD with the total trading volume of 408,000 shares for VND22 billion, BVH with 190,000 shares for VND14.2 billion, and DPM with 361,000 shares valued at VND13 billion.

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