Home News Global Markets

Vietnam stocks nearing record high build a case as a haven

Bloomberg
Bloomberg4/7/2022 08:52 AM GMT+08  • 2 min read
Vietnam stocks nearing record high build a case as a haven
Photo by Peter Nguyen on Unsplash
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Vietnam’s stock market is building a case to be a safe haven among developing-nation peers, bolstered by a reopening of trade and tourism, accelerating economic growth and rising corporate earnings.

The benchmark VN Index is up over 1% this year, outperforming the nearly 8% decline in a MSCI gauge of Asia frontier market stocks. The index is just 0.4% shy of an all-time high and could continue its climb despite elevated inflation and headwinds from the war in Ukraine, money managers say.

Company fundamentals are one key reason for the optimism. Profit growth of the top 60 firms is expected to average about 23% this year on a free-float adjusted basis, said Bill Stoops, chief investment officer of the nation’s largest fund, Dragon Capital Group. Leaders like banks and property developers could even see growth of 30% compared to a year ago, he said.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now