Macro/ Strategy

The Vietnam stock market has returned to an upward trend and conquered the old peak in 2023 (1,250 range). VN-Index is forecast to keep its growing momentum thanks to the expectation that FED will cut the policy 3 times in 2024, which benefits the expansionary monetary policy and economic recovery of Vietnam.

The portfolio’s return continuously outperformed the VN-Index’s return. FRT (+78% in 2023; +46% YTD) made the strongest contribution to the portfolio return thanks to the growth potential of Long Chau chain.

In this update, we add POW to the investment portfolio. POW has the growth potential with the LNG gas power segment when it is best suited to the VIII power plan of the Government. Currently, POW is at an attractive valuation, meeting the criteria of the value investing strategy. 

#HPG, #TCB, #MBB, #VCB, #GAS, #FPT, #FRT, #VNM, #GMD, #VHM, #VRE #POW