Vietnam stocks pop as foreign investors return on sweetened US trade terms: analysts
Possible market upgrade later this year could also result in additional tailwinds for inflows from overseas
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[HO CHI MINH CITY] Vietnam’s stock market has come alive as foreign investors return from positions near historic lows, following news that the country has clinched a trade deal – albeit a preliminary one – with the tariff-trigger-happy United States.
Recent gains have driven the key index higher by 4 per cent since Jul 2, and 14 per cent year to date, after US President Donald Trump announced the agreement with Vietnam. Although lacking in detail, the pact appears to be more favourable than those Washington has so far made with most of the country’s South-east Asian peers.
Bullish outlook
JPMorgan Chase on Wednesday (Jul 9) upgraded its rating for Vietnam to “overweight” within Asean, reflecting a bullish outlook that the nation’s equity market will outperform its regional counterparts.
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