GDP growth is lower than expectation, 3.82% comparing to 4.5% due to corona virus. This is the time to adjust every variable in the valuation model, especially earnings growth.

Bull case, upside of Vietnamese stock market is 20%

Base case, downside is 5%

Bear case, downside is 31%.

Despite the sharp decline in the last 2 months, scenario analysis still show risk which is higher than reward at this price.

FINANDLIFE

Many Foreigner Investors have sold large amount of stock in Vietnam in the short period of time. That action has driven the market down sharply. They injected 80 thousand billion Vietnam Dong, equivalent to 3.5 billion US Dollar in the beginning of 2017 to the peak at the August 2019. From August 2019 to now, they have sold 10 billion Vietnam Dong, equivalent to 420 million US Dollar. The small amount of money outflow in total injected amount but the VNIndex decreased more than 30%. If they keep doing that way, they will hit the very bad performance.

FINANDLIFE