VN Index posts highest growth among Asian markets

VNStockNews.com - VN Index became the stock index with the highest point increase in Asia during the third quarter of 2009.

In Jul-Sep, the VN Index grew by 30%, higher than the increase of 20.36% of Korea's KOSPI and 20% of Australia's ASX. Notably, China was the only big market posting drop in the period after falling by 6%.

According to the chief of Manulife Vietnam's securities division, Mark Canisares, current prices of shares in VN Index are higher 20 times than corporate incomes of 2009 and 18 times than the profit prospect of 2010.

2009 P/E ratio of companies in MSCI Asia Pacific averages at 23 times, Bloomberg reported.

Six major securities indexes of the region reached the increase of at least 14 percent in Q3 while Japan's Nikkei 225 only rose by 2%.

MSCI Asia Pacific in the session of late September surged 0.7% slightly to 117.62 points, lifting the growth of Q3 2009 to 14%.