HANOI, Oct. 13 (Xinhua) -- Foreign investors still see the bright prospects of Vietnam's economy and find its stock market attractive in the medium and long term, local media reported Friday, citing that investors have increased their net buying since the end of September.
According to SSI Securities Inc. (SSI)'s strategic report for October, even though exchange-traded fund capital continued to experience net withdrawals, the pace of withdrawal slowed down in the latter half of September, Vietnam News Agency reported.
Although foreign investors in Vietnam maintained net selling, their trading activities bounced back, reaching the highest level in the year, according to a recent strategic report for the fourth quarter by KIS Vietnam Securities Corporation.
The Finland-based PYN Elite fund expected the market to return to an upward trajectory by the end of the year and continue to grow in the long term due to relatively low market valuations.
The income growth of listed companies in Vietnam is predicted by the fund to stand at around 25-30 percent.
Andy Ho, chief investment officer of VinaCapital Group, said that in the long term, Vietnam's economy will continue to grow at a rate of 6-7 percent per year. This will create a favorable environment for listed companies to achieve a stable annual profit growth of 15-25 percent. ■
