Vietnam’s stock market is buzzing at around 950 points. In April 2018, the market took an upward hike, surging to around 1,200 points, but after the subsequent correction, the index has been trading at between 900 and 1,000 points.
From the start of June, MWG’s share has started to show signs of awakening. The share has gone up by +6.2% since the start of the month, while the index has gone up by +0.3%. MWG’s 5-month results have been strong: 5-month net profit +39% YoY.
Expectations for Vietnam’s economic growth and listed companies’ earnings growth have remained positive, even though the world is full of uncertainties related to the continuity of economic growth. The global, historically low interest rate outlook is further boosting the price development of stocks, regardless of the global economic uncertainties.
We are happy with the positioning of PYN Elite’s portfolio and this is a good setup in which to sit back and wait for the realization of additional returns from Vietnam.