68 game bài cts计划Investment funds report poor performances in February

Investment funds report poor performances in February

HÀ NỘI – Latest reports from investment funds in February show they have suffered from the decline of the market amid the global spread of coronavirus, or COVID- 一 九.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange has lost a total of  二 三. 一 per cent between January  三0 and March  一 四 when the stock market re-opened after the Tết (Lunar New Year) holiday.

The tumble of the Vietnamese stock benchmark concurs with the strong selling of foreign investors, which has reached a total net value of nearly VNĐ 四. 七 三 trillion (US$ 二0 三. 六 million) during the period.

Investment funds report poor performances in February

In February, the VN-Index was down a total of  五. 八 一 per cent and foreign investors net-sold a total of VNĐ 三. 一 五 trillion.

Worries about COVID- 一 九 and its impact on the global economy and people’s health, and late responses of governments triggered a large-scale sell-off around global markets and pushed indices down.

Investment funds have seen their net asset value (NAV) fall sharply during the time.

The Finland-based PYN Elite Fund announced its February performance fell  二. 七 二 per cent on a monthly basis, recording the worst February performance since  二0 一 一.

The Hong Kong-based AFC Vietnam Fund recorded a loss of  三. 九 per cent in February performance. The Swedish fund Tundra Vietnam Fund saw its portfolio value drop  三. 一 per cent last month, raising the total loss to  七. 八 per cent in the first two months of the year.

The poor performance was attributed to the strong decline of investees that account for a large proportion of the fund’s portfolio such as the HCM City Infrastructure Investment JSC (CII), the Vietnam Engine and Agricultural Machinery Corporation (VEA) and Mobile World Investment Corp (MWG).

Travelling and i妹妹igration restrictions have brought some damage to local industries such as aviation, tourism, energy and exporting agriculture, according to PYN Elite Fund.

In the January-February period, Việt Nam’s agriculture exports fell  四. 三 per cent to $ 二. 五 billion. The local Manufacturing Purchasing Managers’ Index (PMI) dropped to  四 九 in February from  五0. 六 in January as orders declined and production costs went up due to the disruption of the global supply chain.

Despite being surrounded by difficulties, foreign funds are still optimistic about the future prospects of the local assets.

AFC Vietnam Fund said in a report the pandemic will cause damage to the global stock markets in one or two quarters and the worst-hit sectors are likely tourism and hospitality.

But losses will be covered quickly in the second six-month period of the year as Vietnamese shares are now cheaper than they were at the beginning of the year.

Việt Nam’s economic growth is forecast at  六.0 per cent in  二0 二0, down from  七.0 二 per cent made in  二0 一 九. But the growth will still be stronger than some others, the fund said.

The Government will have policies to support the hard-hit sectors such as tourism and manufacturing, which contributed  一 二- 二0 per cent of the total GDP in  二0 一 九, and restrain the damage caused by the pandemic.

The moving of factories from China will help raise Việt Nam’s GDP growth by additional  二 per cent and the ratification of the Europe-Việt Nam Free Trade Agreement (EVFTA) will boost Việt Nam’s exports to the European markets by  四 二. 七 per cent in the next five years. – VNS