Vietnam Rally Fails to Alarm Bulls as Stocks Hit ’08 High
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Equity strategists are boosting forecasts for Vietnam stocks as growing confidence in Southeast Asia’s sixth-largest economy sends the benchmark index to its highest level since 2008.
The average year-end estimate for the VN Index has increased 12 percent since January to 675, or 5.3 percent above yesterday’s closing level, according to a Bloomberg survey of 10 forecasters. The gauge has increased 27 percent this year, the biggest gain among five regional peers, and closed at the highest level since March 2008 yesterday. It declined 0.1 percent to 640.22 today.