Investment Strategy Report - Between enthusiasm and profit-taking
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Since the beginning of the year, the circumstance of Vietnam’s stock market has changed dramatically. Concerns over external forces such as exchange rates, USD interest rates, trade relations with China are no longer an obstruction on the gaining path of indices. On top of that, robust participation of foreign capital has reignited enthusiasm of stock investors. In April, VNIndex beat the resistance at 580, closing the month with a return of nearly 3% and HNIndex also gain 2%. The year-to-date accumulated of foreign investors is still negative VND2,000bn but excluding the bond-conversion-related sales of VIC, foreigners bought a net VND1,237 bn in April and VND1,086bn over the four-month period. We believe the low valuation in term of P/E and the increasing openness of local companies with regard to lifting the foreign ownership limit have played the key role in the return of foreign investors.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
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