PYN Elite outperformed the VN-Index, up +3.4% in September, thanks to the strong performance of our banks. Meanwhile, VN-Index only increased +0.3%. The State Bank of Vietnam has targeted this
The Vietnamese market has become too cheap relative to the earnings growth forecasts for this year and next. Although the earnings growth of Vietnamese banks slowed in 2022 and 2023,
PYN Elite rose by 3.1% in August, outperforming the VN Index’s 2.6%, driven by banks’ outperformance and DBC (+10.9%). Despite initial uncertainty over Vietnam’s leadership change, local businesses perceive the
There has been a lot of good news from Vietnam lately. The growth of industrial production has accelerated and in the last three months, expansion of over 10% has been
The market had a turbulent July as the VN Index fluctuated sharply between 1220 and 1300, closing +0.5% MoM. PYN Elite NAV remained unchanged from June. The market was supported
PYN Elite +1.8% in June, beating VN-Index’s sluggish performance -1.3%. Our aviation stocks continued to rally, ACV +18% and HVN +19%. The National Assembly passed in the annual meeting the