US investment firm BlackRock has announced it will liquidate its iShares Frontier and Select EM ETF. About 29 percent of the fund is invested in Vietnamese stocks and cash both in the Hanoi Stock Exchange and the Ho Chi Minh City Stock Exchange. Those investments were worth about US$119.5 million as of June 10.
This is in line with a broader exodus from Vietnam’s stock markets of foreign investors. Since the start of the year, just shy of US$1.58 billion has been withdrawn by foreign traders for a number of reasons including exchange rate pressures, higher returns elsewhere, and general uncertainty with respect to the local economy.
See also: Vietnam’s Foreign Investor Stock Sell-Off: Unpacked 2024
BlackRock’s iShares Frontier and Select EM ETF holdings, June 10, 2024
| Code | Name | Sector | Weight (%) | Notional Value |
| VND | VND Cash | Cash and/or Derivatives | 10.98 | 45,200,476.78 |
| HPG | Hoa Phat Group | Materials | 2.37 | 9,753,950.12 |
| VHM | Vinhomes | Real Estate | 1.76 | 7,237,852.82 |
| VIC | Vingroup | Real Estate | 1.73 | 7,099,725.73 |
| VNM | Viet Nam Dairy Products | Consumer Staples | 1.48 | 6,103,110.74 |
| MSN | Masan Group Corp | Consumer Staples | 1.19 | 4,889,563.87 |
| VCB | Joint Stock Commercial Bank For Fo | Financials | 0.69 | 2,833,619.04 |
| SSI | SSI Securities Corp | Financials | 0.62 | 2,554,823.65 |
| VRE | Vincom Retail | Real Estate | 0.57 | 2,345,638.23 |
| VJC | Vietjet Aviation | Industrials | 0.48 | 1,965,365.72 |
| DGC | Duc Giang Chemicals Group | Materials | 0.46 | 1,889,679.26 |
| KDH | Khang Dien House Trading And Inves | Real Estate | 0.34 | 1,393,544.73 |
| VND | VNdirect Securities Corp | Financials | 0.27 | 1,120,456.21 |
| NVL | No Va Land Investment Group Corp | Real Estate | 0.26 | 1,066,965.29 |
| VCI | Vietcap Securities | Financials | 0.25 | 1,013,904.30 |
| POW | Petrovietnam Power Co Corp | Utilities | 0.21 | 868,982.44 |
| BID | Bank For Investment And Development | Financials | 0.2 | 825,832.74 |
| KDC | Kido Group Corp | Consumer Staples | 0.2 | 821,363.42 |
| DIG | Development Investment Construction | Industrials | 0.2 | 814,512.39 |
| GEX | Gelex Group | Industrials | 0.2 | 811,301.71 |
| SHB | Sai Gon – Hanoi | Financials | 0.19 | 796,445.48 |
| KOS | Kosy | Real Estate | 0.19 | 774,019.47 |
| SHS | Saigon Hanoi Securities | Financials | 0.19 | 765,028.42 |
| PVS | Petrovietnam Tec Corp | Energy | 0.18 | 760,308.46 |
| VIX | Vix Securities | Financials | 0.18 | 735,886.52 |
| VPI | Van Phu Invest Investment | Real Estate | 0.17 | 699,031.57 |
| KBC | Kinh Bac City Development Share Hol | Real Estate | 0.17 | 695,860.05 |
| EIB | Vietnam Export Import Commercial | Financials | 0.16 | 661,138.74 |
| DBC | Dabaco Viet Nam | Consumer Staples | 0.16 | 655,214.87 |
| PVD | Petrovietnam Drilling & Well Services | Energy | 0.16 | 638,231.54 |
| FRT | FPT Digital Retail | Consumer Discretionary | 0.15 | 618,448.72 |
| VHC | Vinh Hoan Corp | Consumer Staples | 0.14 | 586,176.81 |
| NKG | Nam Kim Steel | Materials | 0.14 | 567,577.93 |
| PDR | Phat Dat Real Estate Development C | Real Estate | 0.14 | 559,737.16 |
| CTR | Viettel Constructions | Industrials | 0.13 | 535,785.23 |
| SJS | SJ Group JSC | Real Estate | 0.13 | 527,645.98 |
| HAG | Hoang Anh Gia Lai | Consumer Staples | 0.13 | 524,425.21 |
| HSG | Hoa Sen | Materials | 0.13 | 515,203.46 |
| DBD | Binh Dinh Pharmaceutical | Health Care | 0.12 | 501,809.81 |
| DXG | Dat Xanh Group | Real Estate | 0.12 | 491,623.80 |
| SBT | Thanh Thanh Cong – Bien Hoa | Consumer Staples | 0.12 | 478,382.29 |
| PVT | Petrovietnam Transportation Corp | Energy | 0.11 | 469,282.25 |
| VCG | Vietnam Construction Corp | Industrials | 0.11 | 456,855.26 |
| FTS | FPT Securities | Financials | 0.11 | 455,721.98 |
| TCH | Hoang Huy Investment Financial Ser | Industrials | 0.11 | 453,127.74 |
| PC1 | PC1 Group | Industrials | 0.11 | 449,000.61 |
| EVF | EVN Finance Jsc | Financials | 0.11 | 441,602.91 |
| DGW | Digiworld Corp | Information Technology | 0.1 | 424,309.17 |
| DPM | Petrovietnam Fertilizer And Chemicals | Materials | 0.1 | 411,160.19 |
| SAB | Saigon Beer-alcohol-beverage Corp | Consumer Staples | 0.1 | 409,994.77 |
| IDC | Idico Corporation | Industrials | 0.1 | 399,621.40 |
| GAS | Petrovietnam Gas Corp | Utilities | 0.08 | 318,199.31 |
| CEO | CEO Group | Real Estate | 0.06 | 243,925.66 |
| HDG | Ha Do | Industrials | 0.06 | 243,210.52 |
| DCM | Petrovietnam Ca Mau Fertilizer | Materials | 0.05 | 223,606.06 |
| HUT | Tasco | Industrials | 0.05 | 205,297.28 |
| VND | Vndirect Securities Corp Rights | Financials | 0.05 | 199,777.98 |
| Total | 29.07 | 119,503,343.80 |
Source: BlackRock