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Vietnam Is the ‘Favorite’ Story for Investors Seeking Growth

  • Nation’s equities haven’t been this cheap since 2017
  • Sell-off presents ‘interesting value opportunities’: Ashmore
General Images of Ho Chi Minh City
Photographer: Yen Duong/Bloomberg
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Vietnamese stocks are some of the world’s most battered this year, but market watchers are backing a turnaround.

They’re pointing to valuations that haven’t been this cheap since 2017 and an economy that’s been growing 5% or more each year for two decades. The nation’s benchmark gauge has almost completely erased its 2019 returns and now trades at about 12 times estimated earnings over the next year.