The rush of foreign investors into Vietnam’s most-favored companies has exhausted the government- limited supply of shares, freezing out some as inflation slows and the economy recovers from the weakest growth since 1999.
Military Commercial Joint-Stock Bank closed unchanged on its first day on Vietnam’s Ho Chi Minh City Stock Exchange after listing 10.07 trillion dong ($479.4 million) of shares in the nation’s biggest listing this year.
Vietnam plans to introduce new bond instruments such as futures, related indexes and cross currency repurchase agreements to boost trading in the market, as the government ramps up debt sales to a record this year.
Most emerging-market stocks fell as Chinese developers retreated and investors awaited data on the nation’s industrial production and retail sales. Samsung Electronics Co. led gains in technology companies.
Vietnam moved closer to relaxing restrictions on foreign investors as the Finance Ministry submitted a plan to Prime Minister Nguyen Tan Dung for raising the cap on overseas ownership at some companies.
Emerging-market stocks dropped for a fourth day, dragging the benchmark index to its lowest level in two weeks as an increase in U.S. jobless claims and tensions on the Korean peninsula muted the global economic outlook.