Vietnam'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 Hedgean 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 Vietnam increased 17.49 percent, just behind DFM of Dubai, which jumped 33.98 percent 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 percent) and the Philippines SE Index or PSEi,(ranked 20th with an increase of 10.23 percent).

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 percent, to reach 589.44 in Ho Chi Minh City.-VNA