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Vietnam Stocks Nearing Record High Build a Case as a Haven

  • Vietnam’s trade balance, reopening to tourists boosts outlook
  • Profit growth for leading companies to average 23%: Dragon

Vietnam’s stock market is building a case to be a safe haven among developing-nation peers, bolstered by a reopening of trade and tourism, accelerating economic growth and rising corporate earnings.

The benchmark VN Index is up over 1% this year, outperforming the nearly 8% decline in a MSCI gauge of Asia frontier market stocks. The index is just 0.4% shy of an all-time high and could continue its climb despite elevated inflation and headwinds from the war in Ukraine, money managers say.