Vietnam was one of the best performing markets in January. Is it simply because it’s off a low base And do you think it will continue
Keep in mind that 2011 started with rapidly rising inflation and expectations that the state bank would hike interest rates, which they did aggressively. Not surprisingly, markets crashed as financing became scarce. Inflation peaked in September, but then markets became oversold as fears that banks wouldn’t be able to cope with rising non-performing loans NPLs led to panic selling.
This year started with the realisation that inflation is definitely under control. Consensus puts year-end inflation at 10% to 12%, less than...
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