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Vietnam stock market outperformance may end, Credit Suisse says
Vietnam’s stock market rally, fueled by surging bank credit since April, may stall as lending slows, Credit Suisse Group AG said.
Investors are advised to exit as “valuations look excessive in light of the considerable risks and difficulties of investing in Vietnam,” Credit Suisse analysts Joseph Lau and Dan Fineman said in a strategy report Sept. 2.
“The market’s recent run provides a good opportunity to take money out,” Credit Suisse said. “Dollars are available for repatriation, volumes are up and relative valuations place the market at a sizeable premium to the region.”
Vietnam’s VN Index, the benchmark measure on the Ho Chi Minh City Stock Exchange, has surged 71 percent this year, the third-best performer among 90 gauges tracked by Bloomberg worldwide. The VN Index rose 17 percent in August in its sixth straight monthly gain.
thanhnien, Bloomberg
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