International investors have been hunting for Vietnamese stocks, prices of which were attractive in the past several months, while new funds are to be set up to trade local shares.
The Tokyo-based Capital Partners Securities is advising Japanese institutional investors who wish to pour US$300 million into Vietnam.
The broker is interested in five key stocks, including Vinamilk (VNM), FPT Corp., Hoa Phat Group (HPG), PV Drilling (PVD) and Itaco (ITA).
A fund management company, set up in 2008, also plans to raise US$45 million from European investors for trading Vietnamese shares after a suspension due to the impact of the global financial crisis since late last year.
Red River, a French investment fund, has also invested up to US$300 million in Vietnam over the past months. It raised stake in Vicostone (VCS), listed on the Hanoi Stock Exchange, to 8 per cent from 1 per cent, and started buying into Minh Phu Seafood Co. (MPC).
Vu Bang, chairman of the State Securities Commission, said that foreigners returned to buy a net of US$100 million in the last three months, and they are holding US$500 million in accounts to trade local stocks.
The statistics from the Hochiminh Stock Exchange showed foreign players were net buyers of VND1.9 trillion worth of local shares in the last 21 trading sessions in a row.
Over the nine months of operation, Vietnam now has 370 listed companies, 105 securities firms, 47 investment funds and over 600,000 stock accounts. (Stock Investment)
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