Vietnam Holding Flags 7.8% GDP Growth as May NAV Falls 1.9%
Updated
Updated · voxmarkets.com · Jun 26
Vietnam Holding Flags 7.8% GDP Growth as May NAV Falls 1.9%
2 articles · Updated · voxmarkets.com · Jun 26
Summary
Vietnam Holding said Vietnam’s economy stayed resilient in May even as its own NAV per share fell 1.9% for the month and 5.4% year to date.
Q1 GDP grew 7.8%, with Q2 seen at 7.5%-8%; May retail sales rose 11.8%, five-month exports climbed 19.5%, and foreign manufacturers kept expanding capacity.
Inflation accelerated to 5.6% in May on higher oil prices tied to Middle East tensions, but the fund expects it to ease to about 4.5% by end-2026, allowing interest rates to normalize.
A US$13.8 billion five-month trade deficit was described as constructive because it reflected imports of machinery, electronic components and inventory rather than weak demand.
With tourism still on track for about 25 million visitors in 2026, Vietnam Holding said it is deploying cash into high-conviction stocks ahead of an expected FTSE Russell upgrade in September.