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Market to recover in second half
The stock market will bounce back in the last six months of this year, analysts have said.
If people start to invest in stocks now, they could get “remarkable” returns in one or two years, Dinh The Hien, director of the Institute of Informatics and Applied Economic Research, said.
The stock market tumbled 66 percent last year and has remained subdued so far this year. The benchmark VN-Index closed for Tet on January 21 at 303.21 points.
Hien expected the market to rise in the third quarter, when the effects of the government’s stimulus package kick in.
“Investors should make long-term investments in a negative market,” he said, suggesting retail buyers should enter after the first quarter.
Huynh Anh Tuan, general director of SJC Securities Co., an arm of Vietnam’s largest gold trader SJC, concurred saying now is the time for investors to look for stocks that can rebound strongly when the market rallies.
Dong A Securities Co. suggested in a statement that investors should buy shares of well-run companies as prices on the Ho Chi Minh Stock Exchange have become pretty low.
The HCMC-based brokerage’s director of business development, Lawrence Wolfe, predicted heavy buying by foreign investors from 2010, when their concerns about the financial crisis will diminish and they will be attracted by the low prices in Vietnam.
Mai Phuong
thanhnien
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