1. Thought I would give a quick update here as planned as I did end up opening my Vietnam broking account. VN Direct and Standard Chartered Bank were helpful so I might write more about that in a blog post next year. I bought Vietinbank stock (CTG) today at 27.20. In an ideal world my account would have been set up earlier in November much nearer the lows 😊.

    Still I wasn’t that fussed as early November I added some HK/China/Asia exposure that I was contemplating using for Vietnam stocks as they were falling instead. That is off to a promising start anyway. I discussed this on Seeking Alpha if anyone is interested, might be free from the paywall for certain users for a limited time I am not sure… https://seekingalpha.com/article/4553853-china-fund-review-chinese-stocks-are-not-uninvestable. I guess the region being in the emerging market class might also interest readers of this blog post, so I might also discuss this further when I get around to blogging again next year here.

    Anyway back to Vietnam stocks. I remember taking a quick browse of the banking sector earlier this year, checkout these posts https://vietnamesestockmarket.com/2022/01/01/list-of-top-banks-in-vietnam/ and https://vietnamesestockmarket.com/2022/01/04/top-vietnam-banks-stock-market-valuations-and-outlook-2022/ here. Vietinbank caught my eye as being conservative, having a large presence and notably cheaper valuation. Whilst I thought I might initially make my Vietnam broking account hold some smaller under the radar companies, the big falls in 2022 across the board has meant I want to keep this pretty simple. A bank in a developing economy can be a good growth story yet the valuation here is one they put on poorly run mature developed economy banks. Also I noticed the Pyn Elite fund has made this a big bet this year and I respect the manager’s view there. I wanted my first stock here to be one I don’t have to worry about selling potentially for years. I shall add this stock to my Vietnam flavored sharesight portfolio tracker that I had mentioned in other posts, for the same value as the other individual stocks. I had mentioned how I wanted to add at least a holding each year to resemble an investor in accumulation mode.

    In the above blog post I had ideally hoped Vietnam stocks to fall more in line with a falling Wall street. It didn’t really pan out that way as US stocks strengthened and Vietnam stocks weakened in early November.

    Still I do have plans if the US stock market hits fresh lows again, and if Vietnam stocks are about the same level today or hopefully cheaper, well I will still as discussed looked to add potentially the Dragon Capital London Closed End Fund that I have mentioned before and UOS on the ASX upon any weakness. I may also top up on Vietinbank again if there is a correction.

  2. Just another quick note here as I said I would add some comments if I was accumulating some more Vietnam related stock exposures. Whilst not Vietnam listed, I did top up my UOS (asx listed) holding this week. I’ll add that as a 10k purchase to the sharesight Vietnam related portfolio I was tracking on the blog, using the last closing price of 53 cents. On a very long term view this company might make Vietnam a much bigger part of their overall business.

Leave a Reply