Korean investors shift focus to Vietnamese stocks
VOV.VN - As the Republic of Korean (RoK) stock market shows signs of stagnation, Korean investors are increasingly turning their attention to Vietnam, signaling rising confidence in the country's economic potential.
According to the Korea Securities Depository (KSD), Korean holdings in Vietnamese stocks surged 22.1%, reaching US$290.3 million as of September 2.
Driving much of this momentum is the ACE Vietnam VN30 (Synth) ETF, the only RoK-listed fund that tracks Vietnam’s blue-chip stocks. The ETF attracted KRW3.9 billion (approximately US$2.8 million) in inflows during August and continued its momentum with another KRW1.4 billion (over US$1 million) in just the first two days of September.
Vietnam’s stock market appeal stems from two key factors. Korean investors have confidence in the country’s impressive economic growth, while the possibility that FTSE Russell may upgrade Vietnam from a frontier market to an emerging market in its upcoming review is providing a strong boost, drawing foreign capital inflows.
Analysts at Hanwha Investment and Securities noted that that the Vietnamese stock market is likely to maintain its upward trajectory through September or October, ahead of the FTSE Russell upgrade decision.
LSE pledges to support Vietnam in stock market upgrade
VOV.VN - The leadership of the London Stock Exchange (LSE) has affirmed their commitment to accompany and support Vietnam in upgrading its stock market from “frontier” to “emerging” status.
