Weekly — May 4

Weekly — May 4 final

We believe that stock prices appear to have reached a short-term peak and are likely to consolidate as into the seasonality that typically grips Vietnam’s equities market at this time of the year. The market hasn’t exactly tanked, but declining turnover and increasing intraday volatility support a cautious outlook. We could be wrong of course, but we would not rush to go all-in on Vietnam stocks just yet.