Reuters: Hot Stocks: STOCKS NEWS VIETNAM-Vietnam stocks still cheap after surge - Dragon

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STOCKS NEWS VIETNAM-Vietnam stocks still cheap after surge - Dragon Apr 23rd 2012, 10:48 Mon Apr 23, 2012 6:48am EDT Vietnam stocks remain cheap despite a 32 percent rise in the main index this year, says Dragon Capital, a private-equity firm in Vietnam. It expects Vietnam's credit growth in 2012 to remain capped at 15 percent and lending rates in 2012 are expected to drop to only 12 to 14 percent. "We are therefore still in the period of cheap assets, probably towards the very end of it. With interest rates coming down, share prices will improve," Dragon said in a research note. "Given the anticipated improvement of corporate earnings, we should expect to enter the period of improved earnings very soon, though the rally may be more subdued than the one during the peroid of cheap assets," it added. Vietnam's main index closed down 0.1 percent in light volume in Monday trading. 1708 (1008 GMT) (Reporting by Sinsiri Tiwutanond; sinsiri.tiwutanond.thomsonreuters.com@reuters.net)

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