South Korean investors gain interest in VN stock market
South Korean investors gain interest in VN stock market
Capital from South Korea has recently been poured into the Vietnamese stock market, mainly thanks to a lower interest rate environment.
An investor watches the market's movements. — VNS Photo Ly Ly Cao |
Data from the South Korea Securities Depository (KSD) showed that in just 11 days in August, South Korean investors had net bought US$9.1 million of shares on the market, four times higher than the total net value bought in July, which was $2.12 million.
From March through June, South Korean investors primarily net sold on the Vietnamese stock market, but they reversed the course and have become net buyers since July.
The reversal was due to the cuts in interest rates by the Vietnamese Government that helped lift the stock market, especially in the real estate industry.
It was also supported by the improvements in business results of large groups.
Analysts expected that the country’s stock market would continue to tick up while reminding investors to be cautious about the market’s volatility.
As the stock market has recently gained significantly compared to the beginning of the year, the upward momentum may be eased at the end of the year.
The benchmark VN-Index had soared 19.1 per cent over the start of 2023.
