Macro/ Strategy

After the first trading session of October 2022, the VN-Index closed at 1,086.44 points, a decrease of nearly 30% since the peak of 1,524.7 points set in April 2022. It can be seen that the market index has been traded at a relatively attractive valuation range with P/E forward of 10.3x, the lowest average level for the most recent 10 years. Besides, many blue-chip stocks dropped even steeper than the downward slope of the market. This is the time to apply value investing strategies. 

Therefore, Shinhan Securities has built and introduced to our clients the value portfolio that includes stocks meeting the criteria of belonging to the large-cap group, having good liquidity, and being listed for more than 3 years, and having attractive valuation with potential value growth. Besides, the chosen stocks in the portfolio are those of typical leading enterprises in their industries, having healthy financial status, transparency, and good management.

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