Vietnam’s Stock Market Crash Is a Buying Opportunity
It only took about six weeks for Vietnam’s benchmark VN Index to go from being Asia’s best performing stock market in 2018 — advancing as much as 22 percent by early April — to being nearly flat for the year. Bloomberg reported.
The gauge slid as much as 1.5 percent intraday Wednesday before finding support near its 200-day moving average and closing up 0.3 percent on the day. The correction was “necessary” and provides a buying opportunity, according to Quynh Cao, the Ho Chi Minh City-based head of institutional sales at Saigon Securities Inc., the country’s largest brokerage.
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