Vietnam stock market expected to surge in Q3

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The Vietnamese stock market is set to grow in the third quarter as investor confidence improves thanks to good performances by many companies, analysts say.

Economist Le Dat Chi said the market outlook will be positive after local companies announce their business results for the second quarter.

Chi said many companies posted growth in the first five months this year and the banking sector also reported higher credit growth, which shows that the economy is faring well.

"The most important thing is investor sentiment has turned stable," he said. "Investors continue to stay with the market and I think market liquidity in the third quarter will improve. If blue chip companies post good business results, their stocks can drive the market to even higher growth."

Pham Linh, general director of VISecurities, said liquidity in the stock market will begin to improve beginning of July.

Other analysts also predicted growth for the local market in the third quarter, noting that stock markets around the world have begun to recover from the debt crisis in Europe. But they also said a boom like the one at the end of April is unlikely to happen again.

Investors should also be careful when choosing which stocks to buy because not all stocks will necessarily go up despite the overall brighter market prospects, they said.

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