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Asia's Top Stock Market Is Having Its Worst Month in Two Years

  • Nation’s gauge has surged 130 percent from 2016 low to April
  • Samsung’s Richardson says currency pressures not priced in
The Ho Chi Minh City Stock Exchange.

The Ho Chi Minh City Stock Exchange.

Photographer: Kevin German/Bloomberg
Updated on

Asia’s best performing stock market is having its worst month in more than two years, with a $14 billion loss in the value of Vietnam’s equities since April 6’s record high.

Alan Richardson, portfolio manager at Samsung Asset Management, whose fund has outperformed 94 percent of its peers on a five-year return basis said the “market has peaked” after the nation’s benchmark index gained 130 percent from a low in 2016 through a record high on April 6. The fund sold a majority of its Vietnam equity holdings in March.