In an update on Vietnam’s stock market outlook, the Pyn Elite Fund said global stocks may go down in the future but Vietnamese stocks, based on current valuations, are extremely cheap. The Finnish fund also expects that Vietnamese stocks will not be overly affected by the conflict in Ukraine or any collapse in the Nasdaq, and forecast income growth of 19-29 per cent this year.

Stock prices remain quite cheap given anticipated 2021 profits and potential profits in 2022. If businesses can maintain growth of 27 per cent in 2022, stocks will be trading at 13.2-times 2022 profit.