Vietnam Stock Market Named Best Performer in Asia in Q3
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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