Investors should be realistic about information

Thomas Tobin, the newly appointed Director General of the Hong Kong and Shanghai Banking Corporation Vietnam (HSBC), stressed that HSBC’s report should not be seen as the only source of information about the stock market which investors should rely on when making investment decisions. He said that investors should refer to many sources of information.

Responding to the criticism from the public that HSBC’s report on Vietnam’s stock market was too pessimistic and did not reflect the real situation, Thomas Tobin, HSBC Vietnam Director General, said that investors should consider information from different sources rather than relying only on HSBC’s predictions.

In its latest report, HSBC forecast that the VN Index would drop to the 900 point level by the end of this year. Mr Tobin said that the report was made by a group of independent experts, who made the conclusion based on many criteria. He declined to give any comments personally on the report.

According to Mr Tobin, HSBC Vietnam did not give any information or figures about Vietnam’s stock market to the research team. The experts in charge of making the report got information themselves from several institutions in Vietnam. Mr Tobin’s words can be understood as meaning that HSBC Vietnam did not play any role in the market surveying and report making.

When the story reporter mentioned the errors in a previous report by HSBC, also about Vietnam’s stock market, Mr Tobin said that the mistakes occurred during information processing. However, he stressed that they were just errors in figures which did not affect the conclusion of the report.

He added that HSBC’s report was made to serve its clients. In fact, there always exist different viewpoints on the same issue. In fact, HSBC’s report has had big impacts on the feelings of investors, but Mr Tobin said that it would be better for investors to seek more information from various sources.

When asked to make comments about Vietnam’s stock market, Mr Tobin said that Vietnam was a dynamic economy which had a good foundation for development. Foreign investors are paying more and more attention to Vietnam as a potential market. They have also been impressed by the high GDP growth rate of Vietnam. All of these factors have lured them to Vietnam.


Source: VNE