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Bloomberg: Vietnam Stocks Could Hit a 10-Year High in 2017

Bloomberg: Vietnam Stocks Could Hit a 10-Year High in 2017

Thursday 05, 12 2019
Analysts surveyed by Bloomberg claimed that the index will jump to its highest level in 10 years this year.

Analysts surveyed by Bloomberg claimed that the index will jump to its highest level in 10 years this year.

Factors contributing to the development of the Security industry include in the improvement of the economy, the equitizations of SOEs and potential businesses attracting foreign investors to one of the hottest markets in Asia. 


Accordingly, 11 analysts surveyed by Bloomberg said that the VN Index will increase by 745 points in late 2017, equivalent to an increase of 12% compared to the end of 2016. This rise is higher than the MSCI AC ASEAN Index (10%). 


Vietnam stock index reached its highest level ever in Mar, 2007 with 1170.67 points, then fell sharply later due to the financial crisis. So far, it has recovered and increased by 89% over the past 5 years. In Asia, this growth rate is only lower than those of Shenzhen and New Zealand Stock Exchange. Since early 2017, the VN Index has increased by 2.6%.


"We are optimistic about the market prospect, reckoning that the economy will continue to grow thanks to increasing FDI inflows and stable production”, said Thang Uong - manager of a portfolio worth $ 730 million of Manulife Asset Management in Ho Chi Minh City. “State-owned enterprises reforming at fast pace also help attract foreign investors”. 

-By Vietnambiz-

 

Categories
Financial News

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