3:39:42 PM | 5/10/2009
Vietnam’s stock market is rated as the best performer in Asia in the third quarter of this year after the VN-Index gained 35.09% to close at 580.9.
The market outpaced other Asia markets, such as South Korea’s KOSPI up 20.36%, Australia’s ASX up 20%, Taiwan Weighted up 16.74% and Hang Seng up 14%.
Shanghai was the only loser with 6% during the period.
The price on earning per share (P/E) ratio in Vietnam market is estimated at 20 times in 2009, said Manulife Vietnam’s Head of Equity Division Mark Canizares, compared to PE 23 of MSCI Asia-Pacific Index.
Canizares still remains upbeat about Vietnam market’s outlook, predicting that earnings of Vietnamese companies may expand by 20% next year.
While the stock rally may prompt “some correction,” the outlook remains “strong”, he noted, recommending seafood, property and consumer goods stock. (Vietnam Economic Times)
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