Vietnam’s stock market is booming with the benchmark VN-Index repeatedly hitting new historic peaks this year, closing on an unprecedented 1,252 points Monday as trading value surged to the year’s highest.
The bull market is said to be led by new domestic investors' money even as foreigners net sold over VND14.17 trillion ($615 million) on the Ho Chi Minh Stock Exchange and Hanoi Stock Exchange in the first quarter.
A total 113,875 new trading accounts were opened in March, the highest monthly figure ever, bringing the total number to 3.02 million, equivalent to 2.8 percent of Vietnam's population.
VCBS considers the sector of basic construction materials manufacturing to have high growth prospects thanks to the government’s expected increase in public spending on infrastructure.
Port and logistics tickers are set to benefit from rising demand for transporting goods as companies move their supply chains to Vietnam, it added.