Vietnamese stock market continues its development after the growth rate of 22 per cent in 2013.— Photo chungkhoan.vn

HA NOI (Biz Hub) —Viet Nam's VN-Index ranks second, after Dubai's index DFM, in the list of top 20 global equity indexes in the first quarter of 2014.

This has been reported by Zero Hedge, an economic and finance website. The website has taken Bloomberg data to make its own charts of best and worst performing indexes.

Accordingly, the VN-Index of Viet Nam increased 17.49 per cent, just behind DFM of Dubai, which jumped 33.98 per cent over the previous quarter.

The list of better-performing stock markets in Southeast Asia also included Indonesia's Jakarta Composite Index or JCI (ranked 14th with an increase of 11.72 per cent) and the Philippines SE Index or PSEi,(ranked 20th with an increase of 10.23 per cent).

According to the website, Q1 winners are mostly from the Middle-Eastern countries, including Dubai, Abu Dhabi, Egypt and Qatar.

The website classified Japanese real estate stocks as "broadly speaking, the worst". It also ranked Russia and China as the other worst performers.

In December 2013, it put Vietnamese stocks in "the best longs for 2014", along with gold and gold shares, and forecast that the local market would continue to go up.

On April 3, the VN-Index gained 7.77 points, or 1.34 per cent, to reach 589.44 in HCM City.

Zero Hedge, zerohedge.com, is a news website, content aggregator and collection of blogs by contributing editors. Founded in 2009, it celebrated one billion views in June 2013.—VNS