Bloomberg is reporting on Vietnam’s stock market’s cheap valuations. “The gauge now trades at about 9 times estimated earnings over the next year, its lowest since 2012.”
Bloomberg points out that the Vietnam Stock Index has fallen more than 27% this year “as concerns grow over rising interest rates”.
“There are a lot of high quality companies with fantastic structural growth opportunities trading over a standard deviation below their historical averages. It’s a great time to buy,” said Coeli Asset fund manager James Bannan to Bloomberg.
According to Bloomberg, investors said Vietnam’s long-term story remains intact “due to its stronger macroeconomic position relative to regional peers. The country, whose economy is expected to grow about 7% this year, is also a prime beneficiary of supply chain shifts.”
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