6 days ago
Vietnamese Stocks Reach Record High on Inflows, Trade Optimism
(Bloomberg) -- Vietnamese shares rose to a record high, aided by the return of foreign fund inflows amid optimism about a trade deal with the US.
The benchmark VN Index rose 0.7% to 1,531.13 at the close, surpassing its last high in January 2022. Vietnam Prosperity JSC Bank and Vinhomes JSC were among the top contributors to the gains.
Foreign investors have bought about $413.7 million of Vietnamese stocks on a net basis so far this month, according to data complied by Bloomberg.
The Southeast Asian nation's equities have extended a rally since early July, when President Donald Trump said he had reached a trade deal with Vietnam with a 20% tariff, which is lower than the 46% duty first announced in April. While Vietnamese negotiators said they are still working out details of an agreement, there are expectations for global investors to further expand their exposure to the country's shares.
'The strong rally is on the back of robust GDP growth and reduced uncertainties over US tariffs,' said Ruchir Desai, a fund manager at Asia Frontier Capital in Hong Kong. 'If economic momentum continues in the second half and if there is no major impact on overall export growth especially to the US, then the rally can sustain.'
Vietnam is keeping its target of at least 8% gross domestic product growth this year, and will continue to strive for economic expansion of 10% or above in 2026-2030, Deputy Prime Minister Ho Duc Phoc said earlier this month. The economy expanded by 7.5% in the six months through June.
(Updates with closing level)
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