Financial expert Nguyen The Minh, Director of Analysis, Yuanta Vietnam Securities Joint Stock Company, discussed with reporters of Hanoi Moi Newspaper about the above issue.
-Sir, the current gold price is very high, over 101 million VND/tael, it is difficult to buy because of limited supply. Meanwhile, the production and business sectors are also facing many difficulties. In your opinion, in the current context, which channel can investors invest in?
-In my opinion, if we look at it from a global market perspective, money flows to two investment channels that are considered low-risk, defensive, to avoid unexpected changes in US tariff policy, which are gold and bonds.
For the gold channel in Vietnam, the main demand is to buy for accumulation, to buy for storage, not to buy for resale. After the State Bank's move to tighten management of gold trading activities, buying gold is quite difficult, the demand is high but the supply is limited.
However, the risk of this investment channel is that the domestic gold price is currently very high, compared to the end of last year, it has increased by nearly 18 million VND/tael, equivalent to more than 20%, so the gold price can be adjusted at any time. Therefore, in my opinion, you should not invest in gold at this time.
Instead, investors can invest in corporate bonds because with a common interest rate of 10% -12%, this channel has quite good profits compared to the savings channel, but the risk is low. Therefore, this is a channel that investors can pay attention to. For investors with medium and low risk appetite, the bond channel is a priority at this time.
At this time, it can be seen that the stock market has just experienced a sharp decline. The decline on April 3 alone has almost taken away all the achievements of the first 3 months of the year.
However, I think that investors with a higher risk appetite can consider participating in the stock channel because the market valuation is very attractive. Investing in stocks at this time will bring much more attractive profits than other investment channels.
-In your opinion, how does the US announcement of reciprocal tariffs affect the market?
- It should also be added that the imposition of US tariffs is not yet clear. The tariff rate on Vietnamese goods imported into the US will fluctuate between 10% and 46%, meaning it is unclear what the specific tariff rate is for each type of Vietnamese goods imported into the US. Currently, the Vietnamese government is implementing measures to reduce tariff tensions. Therefore, in the next week, there is a possibility of more positive moves instead of the 46% tariff rate that shocked the market.
However, this shock is an opportunity for investors to seize and increase their purchases. The current market valuation is about 10 times. Normally, when the market is at this valuation, it is the time when the market is likely to have a short-term profit opportunity if investors have good "surfing" ability. Therefore, for investors with high risk appetite, this is the right channel to buy at this time.
- You suggested the corporate bond channel, but I'm afraid many investors' confidence in this channel has not returned, sir?
-For those who held bonds at the time, confidence in the corporate bond channel has not returned, because they lost money when investing in this channel.
However, it should be recognized that after 2022, bad and poor quality bonds will almost disappear, now only good quality bonds with good transactions remain. Therefore, investors can pay attention to those bonds.
In addition, bond issuance activities have been tightened and tightly controlled, and the risk of input goods has been controlled. Therefore, in my opinion, the corporate bond channel is safe and low-risk.
-What about savings and real estate channels, sir?
-Savings are a safe investment channel, almost the safest of all investment channels. With the current low interest rate environment, bond investment is much better than savings. Deposit interest rates are currently low and low interest rates are likely to remain until the end of the second quarter of 2025, so this is not an attractive channel. Not to mention the upcoming USD/VND exchange rate may increase.
With the real estate channel, the current problem is liquidity. If there is a real need, you can consider buying at this time, however, only invest when you have a large amount of capital, buy to hold for the long term.
This channel is suitable for investment at this time because it is expected that in the second half of the year, the real estate market can be active again. If you intend to invest in real estate to "surf", you should not, because now is not the time, having your own capital and investing long-term will be more suitable.
In my opinion, long-term investment at this time should be in the stock market and real estate.
-Thank you very much!
Source: https://hanoimoi.vn/nen-do-tien-vao-kenh-dau-tu-nao-698011.html
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