Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Thematic (Sector/Industry)

Vietnam Materials / Thematic (Sector/Industry)

<p>In my previous insight, I covered how Hoa Phat Group and Hoa Sen Group were strong value investment picks, and were not financially impacted from the plunging price of steel.  This insight will take a further look at how Vietnam stands out as a positive outlier compared to the global steel industry, as a significant number of major steel companies are currently not profitable.  Vietnam can also be considered a positive outlier when compared to frontier and emerging asia, as many stocks in Vietnam are discounted to other frontier and emerging markets in Asia.  Vietnam’s steel industry is therefore a significant area for investment when compared to larger companies in developed markets, as well as frontier and emerging Asia.  The struggle in Vietnam has mainly been for small and mid cap companies in this industry, although some of these companies are exceptions.</p>

In my previous insight, I covered how Hoa Phat Group and Hoa Sen Group were strong value investment picks, and were not financially impacted from the plunging price of steel.  This insight will take a further look at how Vietnam stands out as a positive outlier compared to the global steel industry, as a significant number of major steel companies are currently not profitable.  Vietnam can also be considered a positive outlier when compared to frontier and emerging asia, as many stocks in Vietnam are discounted to other frontier and emerging markets in Asia.  Vietnam’s steel industry is therefore a significant area for investment when compared to larger companies in developed markets, as well as frontier and emerging Asia.  The struggle in Vietnam has mainly been for small and mid cap companies in this industry, although some of these companies are exceptions.

Ha Giang And Mineral Mechanics Jsc (HGM VN)

ベトナムの鉄鋼産業は世界的に異例