Vietnam stock market posts world’s highest gains
By Phuong Dong June 7, 2021 | 06:50 am GMT+7
An investor looks at stock prices on a smartphone at the Yuanta securities firm in District 1, Ho Chi Minh City, on March 2021. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index has surged 34.51 percent in the first half of this year, marking the highest increase in the world.
Abu Dhabi was second with its stock market rising 33.06 percent, followed by Austria with 32.65 percent, according to China-based stock database StockQ.
With an increase in five consecutive sessions in the past week, VN-Index reached 1,374.05 points last Friday, up 4.06 percent over the same day last week. Vietnam ranked third among the most active markets in the past week after Argentina and Hungary, according to the Chinese stock database.
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Nick Ainsworth - Chief marketing officer, Dragon Capital
As one of the largest conglomerates in the country, Masan is now making some big bets on its strategic approach towards the largest consumer ecosystem in Vietnam.Last week it said it was mulling over a potential initial public offering (IPO) for The CrownX â the integrated consumer retail arm that consolidates its interests in both Masan Consumer Holdings and VinCommerce.
Masanâs shares have roared to a high on the eve of Alibaba Groupâs reported interest to invest in The CrownX. On May 18, Masan and a consortium led by Alibaba and Baring Private Equity Asia announced the signing of definitive agreements for acquisition of 5.5 per cent in The CrownX for a total of $400 million.
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