HIGHLIGHTS
In 2025, the State Treasury of Vietnam plans to issue VND 500 trillion in government bonds (G-bonds), representing a 1.25-fold increase compared to the initial target and 1.7 times the total issuance in 2024. As of January 8, 2025, the mobilized G-bond volume reached VND 2.323 trillion, with an average maturity of 10.36 years and an interest rate of 2.78% per annum. In 2024, the State Treasury allocated VND 208.513 trillion from the treasury fund to support the central budget, saving about VND 8 trillion annually in borrowing costs. The total capital raised in 2024 exceeded VND 330.3755 trillion, achieving 83% of the target, with an average maturity of 11.12 years and an interest rate of 2.52% per annum. These efforts are a significant step toward enhancing public financial management and ensuring central budget stability.
TRADING STRATEGY
The stock market continues its recovery, nearing the 1,250-point level, with liquidity slightly below the weekly average. Capital flows remain distributed, led by technology, services, and basic materials stocks. The VN-Index is expected to fluctuate around the 1,250-1,255 range today.
Since reaching the 1,220-point level, the market has shown a short-term recovery trend, with reduced selling pressure mostly from foreign investors. Mid- and small-cap stocks have seen improved capital flows, while large-cap stocks have actively supported the overall index. The VN-Index is showing a clear consensus to approach the 1,255-1,260 resistance zone. Investors are advised to focus on holding and gradually accumulating fundamentally strong stocks, particularly those in strategic medium-term portfolios, during this period of 2024 earnings disclosures and 2025 business plan announcements.
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