Vietnamese bank on gold, stock in 2023 amid inflation fears

By Tat Dat   January 7, 2023 | 04:00 pm PT
Vietnamese bank on gold, stock in 2023 amid inflation fears
An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnamese investors will focus on gold, stocks, bonds and digital currency in the hope of making profits in 2023 amid fears of surging inflation in major global markets.

The top investment asset for Vietnamese investors this year is gold, according to 57% of respondents in the The Wealth Expectancy 2022 report by lender Standard Chartered.

Nearly 50% of Vietnamese investors will have money invested in stocks, and 44% in bonds.

Even though most cryptocurrencies plunged last year, 73% of respondents said that they believe that digital assets are still important in any portfolio.

Vietnam is among the top countries in the ratio of digital asset ownership at over 80%, compared to 66% globally.

Nearly three out of four investors said they would continue to invest in digital assets this year, according to the survey, which polled respondents before cryptocurrency FTX filed for bankruptcy on November 11.

The survey found that 80% of survey respondents in Vietnam are proactively actively managing their assets, changing their investment strategy amid unfavorable markets, including Vietnam.

The top challenge investors are expected to face this year is inflation, according to 36% of respondents. This is followed by the risk of economic recession, 21%, and global economic changes, 18%.

Last year, 26% of respondents decided to make new decisions concerning their investment portfolio, while 25% cut their spending.

Recent developments in the corporate bond and capital markets amid rising inflation have encouraged more private investors to choose professional asset managers, said Harmander Mahal, head of Consumer, Private, and Business Banking for Vietnam and Asia Cluster Markets at Standard Chartered Bank.

Investors are set to reduce the ratio of stock in their investment portfolio from 10.9% to 7.5% this year.

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