Vietnam ECM: Buyer beware!

Foreign investors have beaten a hasty retreat since the market turned in May. Is value starting to re-emerge?

Financial analysts and fund managers believe new buying opportunities are starting to open up in Vietnam after the market’s sharp correction, which began in the spring on the back of high valuations and concerns about a global trade war which will impact the country’s export-oriented economy.

Since the VN Index peaked at 1,204 on April 9, it has fallen 21.12% to close at the 949.73 level on July 30. Vietnam has done a rapid about turn from being Asia’s second best performing market during the first quarter to one of its worst performing during the second.

PXP Vietnam Asset Management partly attributes the sell-off to the rapid...

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