by Dana Lyons
After more than a decade, the Vietnamese stock market is back at all-time highs.
One of the unsung market stories of 2017 was the long-term breakout, or near-breakout, action in many emerging markets. This included several of the Asian “Tiger Cubs”, e.g., Indonesia, Thailand and The Philippines. One laggard among that group, though, was Vietnam…until now.
It’s not that the Vietnamese market didn’t perform well last year. The benchmark VNI Index was up roughly 50% – about as much as any of the emerging markets that we track. It just had a lot of catching up to do to reach its all-time highs set in 2007. However, the VNI has weathered this latest global equity correction about as well as any market. And as a result, after more than a decade, the index has finally surmounted its all-time highs over the past few days.
This is obviously a huge milestone for the Vietnamese market. But does it mean the VNI is off to the races? In a Premium Post at The Lyons Share, we’ll discuss our investment strategy around the Vietnamese market and how to access it.