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Foreign investors bottom fish as VN-Index in red

By Dat Nguyen   April 20, 2022 | 09:31 pm PT
Foreign investors bottom fish as VN-Index in red
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Foreign investors are picking up dipping stocks as VN-Index hits a six-month low with increasing net purchase in the last four sessions.

As VN-Index dropped four points Thursday morning after plunging 92 points in the last five sessions, foreign investors net purchase hit VND645 billion ($28.09 million).

That is an increase of 47 percent from Wednesday. Together with the last four sessions, foreign investors have purchased VND1.47 trillion worth of stocks.

On Thursday morning, their top net purchases were DXG of real estate developer Dat Xanh Group, VRE of retail real estate arm Vincom Retail and VNM of dairy giant Vinamilk.

They were followed by PVT of Petrovietnam Transportation Corporation, GEX of electrical equipment maker Gelex Group and FPT Digital Retail.

Domestic investors are also pouring money into the market Thursday morning, with surging interests in VNM of dairy giant Vinamilk, VCB of state-owned lender Vietcombank and VRE.

Sixteen blue chips were in the green, led by BVH of insurance company Bao Viet Holdings with a 4.8 percent rise and FPT of IT giant FPT Corporation, up 2.8 percent.

Other gainers included MBB of lender MB and SSI of leading brokerage SSI Securities Corporation, both up 2.4 percent.

VN-Index has been on a downward trend in the last two weeks after approaching the previous peak in January as speculative stocks related to real estate developer FLC plunged after its chairman Trinh Van Quyet and other leaders were arrested for alleged stock manipulation.

The market dived again Thursday morning after chairman of diversified group Louis Holdings Do Thanh Nhan and CEO of Tri Viet Securities Do Duc Nam were arrested for alleged stock manipulation.

VN-Index went down by up to 27 points in the first hour but buying pressure helped lower the fall to four points by 11.30 a.m.

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