Renewed fear of more aggressive US interest rate hikes, and some financial difficulties at Vietnam’s fourth-biggest listed property developer, Novaland (NVL), sent the VN-Index sharply lower, down -9.2% (in USD terms) in February.
Also, the NAV of our AFC Vietnam Fund closed the month -6% lower at an NAV of USD 2.839, according to internal estimates.
February’s market correction was mainly caused by concerns about US inflation and higher than expected US interest rates.
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.