US newspaper highlights Vietnam’s stock market
The USA Today on November 26 published an article about Vietnam’s stock market, saying this is one of Asia’s top performers.
The articler said that the Ho Chi Minh Stock Exchange’s main index is up 47 percent over the past year and added that the past two years have seen the market growth from 41 listed firms valued at less than US$ 1 billion to 206 stocks with a market capitalization of around US$22 billion.
According to the newspaper, Vietnam’s stock market is strongly supported by a market-oriented path as the country’s development enjoys an eight percent annual rate with foreign investment flowing in and a continuing shift away from central planning that has transformed lumbering state-owned entities into nimble public companies.
The newspaper also quoted Kevin Snowball, director of PXP Vietnam Asset Management as saying that Vietnam has tremendous long-term prospects with a young, dynamic population eager to improve their lives.
However, Vietnam remains an embryonic investing climate where financial information on listed companies or those preparing to list is more difficult to obtain than in more developed markets, said Nguyen Viet Ha, Director General of Mekong Securities in Hanoi. (VOVNews/VNA )
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