80,000 Evacuated From Vietnamese Beach Town After Three Locals Test Positive For Coronavirus
Comment of the Day

July 28 2020

Commentary by Eoin Treacy

80,000 Evacuated From Vietnamese Beach Town After Three Locals Test Positive For Coronavirus

This article by Daniel Cassady for Forbes may be of interest to subscribers. Here is a section:

Evacuations of the mostly local tourists will take at least four days, with domestic airlines running 100 flights from Da Nang to 11 Vietnamese cities, according to Reuters.

The first case was confirmed on Saturday, with another 11 cases, all from the hospital where the initial case was being treated, confirmed late Monday.

These are the first cases of Covid-19 in the country since April.

Those leaving Da Nang will have to self-quarantine for 14 days, fill out health declaration forms, or report on their health to local authorities.

Vietnam’s aggressive response to the burgeoning outbreak is a prime example of how it has been able to keep the pandemic at arm’s length.

With a population close to 95.5 million people, Vietnam has seen only 431 cases of Covid-19 and zero deaths, according to John Hopkins University.

Eoin Treacy's view

The number of countries that successfully quashed coronavirus infections in February and March is frighteningly small. Vietnam was among the leaders in aggressive early action and it succeeded in keeping its case numbers low and spread contained. It is testament to just how difficult the virus is to contain that cases are rising once more in Vietnam.

The stock market’s recovery was waylaid by the coronavirus as it pulled back sharply in January. It encountered resistance in the region of trend mean in June and pulled back sharply over the last three weeks. Today’s upward dynamic suggests investors are willing to give Vietnam’s government the benefit of the doubt especially against a background of demand for manufacturing alternatives to China and a weak Dollar environment.

The VinaCapital Vietnam Opportunity Fund is trading at a discount to NAV of 15.4% and rebounded impressively today from the region of the trend mean.

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