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July 2019 Vietnamese stocks performance review


July has been a contrasted month for the Vietnamese stock markets. After three consecutive months of fall, the HOSE index has rebounded with a solid monthly performance. the Hanoi Stock Exchange performance was far less impressive with a monthly gain slightly inferior to 1%. This performance difference between the two indexes can be explained by the fact that in the first half of the year roughly two-thirds of the earnings were contributed by large-cap firms and that most large-cap firms are quoted on Ho Chi Minh stock exchange. Over the month, Hanoi index is up by 4.7% and Ho Chi Minh index is up by a more modest 0.9%. Our reference portfolio is down by 1.0%. Anh Thomas returns over the long run are impressive. Since being launched, Anh Thomas portfolio overall return is +324.7% greatly outperforming both Hanoi and Ho Chi Minh indexes (+51.3% and +149.6% respectively).

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Disclaimer:

 

This website shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any country or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such country or other jurisdiction. Please also note that the value of your investments can both rise and fall over time and that you should not assume that past performance will repeat itself. You may receive less than you originally invested. Anh Thomas Investment also declines any responsibility in respect of the tax treatment of your investments.

 

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