Vietnam reclaims crown of "Asia's best performing stock market"

VN-Index "ballooned" by 70 per cent since early 2017 (Source: VNDirect)

By the last stock transaction in February, the VN-Index hit a new record of 1,120 points, equivalent to 14 per cent growth over only two months, setting the stage to be one of the most impressive performing markets in the world this year.

Likewise, over the twelve months of 2017 and the first two months of 2018, the VN-Index saw 70 per cent growth, nearly surpassing the record set in March 2007.

Previously in the second half of 2017, the Vietnamese stock market was deemed to be one of the most investment-worthy markets due to surging profitability and capital attraction.

According to newswire Bloomberg, by the end of 2018, the VNIndex was forecast to reach 1,210 points in a recent survey of 10 strategists by the New York-based news station.

Thang Uong, manager of a $1-billion portfolio at Manulife's fund in Vietnam, noted that "The market growth rate was forecast to swell by 20-25 per cent among listed and newly-listed firms."

As concluded in a recent market analysis by RongViet Securities (VDSC), running a moderate trading volume, the VNIndex would likely rise by 17-19 per cent, while in case the VnIndex improves its ranking among Asia's stock markets, it could potential expand by 45-67 per cent.

By the end of 2017, Vietnam's benchmark index mounted up to 984 points, which was equivalent to a 48 per cent rise against the same category in 2016.

Previously, the VNIndex was ranked the world's third and Asia’s best-performing market due to its smooth economic growth, the "green" business performance of various firms, including giants like Petrolimex, Vietnam Airlines, and Vincom Retail, as well as the inundating volume of traded shares worth roughly $1.1 million by foreign funds.