Foreign investor sentiment and stock returns - Evidence from Ho Chi Minh stock exchange

Abstract

My study does not only investigate the correlation amid investor sentiment and the returns of stock on Ho Chi Minh Stock Exchange but also investigates the relationship between foreign ownership and investor sentiment. All data collected is daily trading volume, stock prices and percentage of foreign investors’ stock ownership over the period of 4 years from 2015 to 2018. Then, the calculations are conducted to get the data of investor sentiment and stock return. After running the tests and the model mentioned, this study shows that investor sentiment has a positive impact on stock return as well as foreign ownership effects negatively on investor sentiment.