The 18-day flow of money into Vietnam ’s stock market suggests overseas money managers are unfazed amid concern that anti- China riots in the country will deter foreign investment and curb economic growth, read a story published by Bloomberg on May 19.

It said foreign investors were net buyers on the Ho Chi Minh City stock exchange every day since April 18, the longest stretch of purchases since January. They added about 93 million USD to their holdings even as the benchmark VN Index slumped 8.8 percent through May 16.

According to the article, Advance Emerging Capital, Samsung Asset Management and Jefferies Group Inc. said they’re still upbeat about Vietnam as inflation stays low, the Government removes bad debt from banks and the prospect of a Trans-Pacific Partnership trade deal bolsters the outlook for exporters.

“Our view of the outlook for Vietnam remains bullish,” the article quoted an email from Samir Shah, an investment manager at Advance Emerging Capital in London , which oversees about 750 million USD, who affirmed that “Steady economic progress looks set to continue.”

International investors have bought a net 188 million USD of Vietnam stocks in 2014, heading for the ninth straight year of purchases, according to data compiled by Bloomberg.

Companies including PXP Vietnam Asset Management say the Government may raise foreign ownership caps this year, giving investors even more room to boost holdings.

US-based exchange-traded funds focused on Vietnam have received a net 99.9 million USD this year, equivalent to almost 27 percent of their total market capitalisation. That’s the biggest increase of all 12 Asian countries tracked by Bloomberg.

The article also noted that Vietnam’s policy makers are trying to bolster an economy that the World Bank estimates will grow 5.4 percent this year. Gross domestic product rose 4.96 percent in the first quarter of 2014, while inflation fell below 5 percent in February for the first time since 2009.

The Vietnamese Government set up an asset management company to acquire non-performing loans and has also allowed foreign investors to take bigger stakes in local lenders.

Negotiators are still working to conclude the Trans-Pacific Partnership free trade deal, which would link a region with 28 trillion GDP in annual economic output, about 39 percent of the world total.

The article concluded with Tony Diep, Hanoi-based managing director at Indochina Capital, saying that foreign investors “think this is the best time to buy,” adding that “they like the valuation and they think the tension is just a short-term phenomenon”.-VNA