VN-Index to Trade 580-600 by Year-end: VinaCapital
Vietnam’s stock market benchmark, VN-Index, will trade in a range of between 580 and 600 by the year-end on the expected positive moves of leading U.S. economic indicators and the stability of the domestic economy, VinaCapital’s Head of Investment Andy Ho forecast.
VinaCapital said the VN-Index rose 29.6% in the third quarter of this year, substantially outperforming the MSCI Asia and Emerging Market Indices.
Trading volumes also increased significantly during the period, with an average of $170 million worth of shares daily on Vietnam’s two bourse, it noted.
“This is a good time for us to set up a new investment fund for unlisted real estate to attract more institutional investors,” said VinaCapital CEO Don Lam. “This is a new trend that allows investors to join and take close control over their financial activities worldwide.”
Enterprises in industries of medical services, consumer goods production, financial services and energy will be top investment next year, Don Lam said, predicting a fall in short-term stock speculation.
Peter Schmid, executive chief of relations for Credit Suisse, said recently that his bank will continue to recommend that international investors put money into large projects and local companies in Vietnam, and it will support the country to establish a capital market. (VNS)
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