[ad_1]
Foreign advertisers are lowering shares despite the VN Index gaining 33 percent and making it the best in Southeast Asia.
Author Bloomberg
Published on 10 Dec 2021
Foreign investors have been losing Vietnamese stocks all year round, despite rising sharply. Competition from well-known commercial brands such as Tesla Inc. and cryptocurrencies seem to be the reason.
Korean retailers – which accounted for 16% of foreign exchange earnings between 2017 and 2019 – are among those retailers, lowering $ 166 million shares so far this year, according to the Korea Securities Depository. Their interest in risk has shifted from the coming markets to the US, thanks to strong returns in local equities, experts say.
“Bitcoin and US stocks, especially technologies growing in stocks, showed significant changes,” said Lee Soyeon, a strategist market strategist at Korea Investment & Securities Co. “So traders were attracted to them, not Vietnam. Selling stocks is a bit difficult and repayment is imminent.”
Foreign advertisers will send out all the money except for one month this year, although the VN Index has found 33% which made it the most successful in Southeast Asia. In all, they sold $ 2.7 billion worth of shares in 2021, according to Bloomberg.
“Most foreign sales are just about profit,” said Stephen McKeever, head of customer service at Ho Chi Minh City Securities Corp. “The market has performed very well and some investors have lost money,” said Korean retailers. their interest in US technologies such as Tesla, he added.
However, Vietnam viewers including Jessica Tea of BNP Paribas Asset Management and Quynh Cao of SSI Securities Corp. Population, Vietnam’s place in Asian manufacturing and attractive accounting provide opportunities for investors, he said.
“We think the foreign trade we have seen in the last two years is not just a reflection of Vietnamese business interests that remain positive,” said Ho Chi Minh City Securities’ McKeever. “We call these psychological problems.”
[ad_2]
Source link
