Foreign Investors Keen on Shares of Power Firms
Foreign investors are now most interested in shares of electricity companies listed in the Hanoi Securities Trading Center (HASTC), local media reported.
Since the Hanoi bourse debuted more than one year ago, three electricity stocks, including the Vinh Son-Song Hinh Hydropower (VSH), Pha Lai Thermal Power (PPC), and Khanh Hoa Power (KHP), have made up 80.2 per cent of the total value traded by foreign investors.
The beverage sector is followed with Thang Long Wine (VTL), which accounts for 5.2 per cent of transactions involving foreign investors, and the insurance sector with Vietnam National Reinsurance (VNR), 3.6 per cent.
In the period, the number of foreign investor accounts in Vietnam has also increased sharply, from only 287 in July 2005 to 419 in December 2005 and doubled to 859 by May 2006.
However, transactions by foreign investors on the Hanoi bourse remained weak. From January to August this year, foreign investors traded 1.62 million shares with combined value of VND45 billion ($2.8 million), equivalent to only 3.6 per cent of total value on the market. Their buying was 48 per cent of total transactions and selling was 52 per cent.
Vietnam Economic Times, VNA
Vietnamese
