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Vietnam brokerage says VN-Index well position for more foreign investment

Tien Phong Securities (TPS) has said that the Ho Chi Minh City Stock Exchange (HoSE) is ‘in a good position to lure foreign investment’ in 2024 particularly relative to its regional peers, The Investor is reporting.

TPS reached this conclusion based on:

  • Low interest rates;
  • A price to earnings ratio of 9.1;
  • The launch of the Korea Exchange trading platform slated for next year; and
  • A possible market designation upgrade from FTSE Russel.

The firm goes on to speculate that the VN-Index should reach near 1,387 points.

Note that, foreign investors have withdrawn over US$1 billion this year from the HoSE.

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