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Investors Take a Long-Term Bet on Vietnam’s Cheap Valuations

Vietnam’s stocks benchmark is the worst performer in Southeast Asia so far this year, but fund managers are betting on a rebound as valuations dive to a decade-low. 

The Vietnam Stock Index has fallen more than 27% this year as concerns grow over rising interest rates. The gauge now trades at about 9 times estimated earnings over the next year, its lowest since 2012, prompting firms such as Coeli Asset Management SA to increase their positions in Vietnam.