Foreign investors net sell in Q3 2015

Tran Anh Dao, deputy CEO of the Ho Chi Minh City Stock Exchange, said at a periodic press conference on October 7 that foreign investors net sold VND655 billion in the third quarter of this year.
 
Particularly, in the third quarter of this year, foreign investors bought more than VND17.89 trillion worth of shares while selling nearly VND18.56 trillion. 
 
Foreign investors net sold most in August and September because China devalued Chinese yuan renminbi in August and the State Bank of Vietnam had to adjust its US dollar exchange rate, affecting investment decisions of foreign investors. However the difference between buying and selling volumes by foreign investors was still small.
 
Nevertheless, positive information about the Trans-Pacific Partnership is expected to balance buying and selling volumes by foreign investors in the last months of this year.
 
In related news, the US dollar exchange rate has declined the second straight day after the Circular 15 on foreign currency transactions by credit institutions that issued by the central bank became effective.
 
On October 7, banks lowered the US dollar exchange rate by VND10-50 per dollar after reducing by VND30-40 per dollar on the previous day.
 
Particularly, Vietcombank bought dollars at VND22,360 per dollar, down VND35 per dollar, and sold at VND22,430 per dollar, down VND15 per dollar.
 
BIDV cut VND50 per dollar in both buying and selling rates to buy dollars at VND22,350 and sell at VND22,410.
 
Vietinbank purchased dollars at VND22,355 per dollar and sold at VND22,415 per dollar, down VND35 per dollar in both buying and selling rates.
 
ACB fixed its exchange rate at VND22,340 per dollar for buying and VND22,400 per dollar for selling, down VND50 per dollar.
 
Meanwhile, the US dollar exchange rate at Eximbank merely slid by VND10 per dollar to VND22,390 for buying and VND22,450 for selling.

By Hanh Nhung – Translated by Thuy Doan

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