Vietnam is one of top markets in Asia Pacific to invest in 2024

CNBC discusses the outlook for Asia-Pacific markets in 2024, following the region's strong performance in 2023, with Japan's Nikkei 225 emerging as the top-performing equity index. Analysts suggest that India, Japan, and Vietnam will be the top-performing markets in the first half of 2024.

1. India:

• India's stock market gained favor in 2023, with the Nifty 50 index rising by 20%.
• The country's economic growth is expected to outpace other major Asian economies in 2024, with a projected real GDP expansion of 6.3%.
• Strong earnings, potential interest rate cuts, and increased participation from domestic investors are factors expected to contribute to India's continued market rally.
• Analysts from J.P. Morgan predict the Nifty 50 reaching 25,000 in 2024, with potential risks associated with general elections.

2. Japan:

• Japan's Nikkei 225 was the top-performing stock index in Asia in 2023, gaining 28%.
• Strong earnings and optimism regarding the potential end of the Bank of Japan's ultra-easy monetary policy contribute to positive market sentiments.
• BofA Global Research expects the rally in Japan's markets to continue into 2024, with technology and banks identified as top picks.
• The Nikkei 225 is projected to touch 37,500 by the end of 2024, according to BofA.

3. Vietnam:

• Vietnam benefits from the "China plus one" strategy, attracting companies diversifying investments.
• The country expects GDP growth of 6% to 6.5% in 2024, driven by robust imports, exports, and manufacturing activity.
• A surge in foreign direct investments (FDI) has been witnessed, with $29 billion pledged from January to November in the previous year.
• Vietnam's attractive valuations, inexpensive market, and opportunities in consumption, healthcare, and real estate sectors make it appealing to investors.

The article also touches on China's market conditions, noting challenges in consumer confidence due to high youth unemployment, debt risks, and a volatile property sector. Despite pessimism, certain sectors like healthcare and consumer goods are highlighted as potential bright spots.

Investors are advised to consider consumption sub-sectors and the "new economy" segment in China. Additionally, the article suggests keeping an eye on Vietnam's potential entry into MSCI's list of emerging market economies by 2025.

Source: CNBC

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