Vietnam Stock Market Becomes Attractive: VinaCapital

Hunt Macnguyen, chairman-CEO of VinaSecurities, an affiliate of VinaCapital, said Vietnam’s stock market is more attractive than regional stocks.

 

Macnguyen said that “current valuation indicates that Vietnam’s shares are cheaper than those in the region while corporate will see a 15%-20% profit growth in 2010. If bond yields decreases in the first half of the year, stock market will recover and increase in the second half.”

 

Macnguyen expects VN-Index to head to 650-700 in 2010.

 

Vietnam’s shares fell 1.34% on 37.129 million shares valued at VND1.596 trillion on local sells after the government allowed petroleum traders to hike fuels costs, the first time for this year, traders said.

 

Foreigners were net buyers of VND58 billion of local shares today. (Investment)