Global volatilities highlight the Vietnamese stock markets resilience, Photo: Dung Minh After a turbulent year that saw both record highs and lows, the Vietnamese stock market is expected to regain its footing in 2019. Most analysts believed that the VN-Index will bounce back from the doom and gloom of 2018, reaching as high as 1,049 points by December this year. This is equivalent to an 18 per cent increase, but still lower than the 1,200 peak in last April. Amid growing tensions around the world, especially the ongoing US-China trade war, it seems that investors will find refuge in Vietnam’s stable macroeconomic performance and strong domestic consumption. In 2019, the stock market is likely to welcome a new Securities Law that promises to relax the foreign ownership cap that used to drive major funds away from Vietnam’s listed companies. In this amended version, as a general rule, foreign investors are allowed to own 100 per cent of stakes at a Vietnamese company operating in a non-critical sector. Shareholders at each company will decide the amount of foreign-owned stakes that they are comfortable with. This is an update from the current law, which automatically sets the limit at 49 per cent… Read full this story
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