Vinamilk among top stocks to watch in Southeast Asia

ABO/NDO - HSBC Global Research has selected the Vietnamese dairy company Vinamilk (VNM) as one of the top five stocks to watch in Southeast Asia as commodity prices are entering a stage of stability.

VNM is also Vietnam’s only stock in the food and beverage industry to have been recommended by HSBC in a report released on June 30.

A cow farm of Vinamilk.

The other four companies are in the finance-banking and technology-retail sectors from Indonesia, Singapore and Thailand.

In the early months of 2022, Vinamilk stock was not an investors’ favourite but now it is one of the best-performing blue-chip stocks, yielding profit of nearly 12% in the 12 most recent sessions.

Since April 7 when the VN-Index last hit 1,500 points, Vinamilk’s shares dropped only 8% while the country’s benchmark index lost 20%, with many top stocks shedding up to 20-30%.

VNM also witnessed an increase in trading volume, becoming a safe haven for investors amid mounting pressure on the market.

(Source: NDO)