Economic news review February 19

The central exchange rate increased by 8 VND, the VN-Index increased sharply by 15.27 points, or the trade balance of goods in January 2024 was estimated to have a trade surplus of 2.92 billion USD... are some notable economic information on February 19.

Economic news review on February 15 Economic news review for the week of February 5-16

Economic news review

Domestic news

In the foreign exchange market on February 19, the State Bank listed the central exchange rate at 23,979 VND/USD, an increase of 8 VND compared to the session at the end of last week.

The USD buying price was kept unchanged at 23,400 VND/USD by the State Bank of Vietnam, while the USD selling price was listed at 25,127 VND/USD, 50 VND lower than the ceiling exchange rate.

On the interbank market, the dollar-dong exchange rate closed at 24,542 VND/USD, up 22 VND compared to the session on February 16.

The dollar-dong exchange rate on the free market decreased by 50 VND in both buying and selling directions, trading at 24,900 VND/USD and 25,000 VND/USD.

On February 19, the average interbank VND interest rate increased by 0.07 - 0.28 percentage points in all terms of 1 month or less compared to the session at the end of last week, specifically: overnight 1.42%; 1 week 1.65%; 2 weeks 1.80% and 1 month 2.03%.

The average interbank USD interest rate remained unchanged in most terms except for a decrease of 0.01 percentage point in the 1-week term; trading at: overnight 5.19%; 1 week 5.28%; 2 weeks 5.33%, 1 month 5.40%.

Government bond yields in the secondary market remained unchanged at the 3-year term while slightly decreasing at the 5-year term and increasing at the remaining terms; closing at: 3-year 1.23%; 5-year 1.43%; 7-year 1.82%; 10-year 2.32%; 15-year 2.54%.

In the open market operations, on the mortgage channel, the State Bank bid 1,000 billion VND with a term of 14 days, the interest rate remained at 4.0%. There was no winning bid volume, no circulating volume on the mortgage channel. The State Bank did not bid for State Bank bills, there were no bills circulating on the market.

The stock market had an exciting first session of the week with support from real estate stocks. At the end of the session, VN-Index increased sharply by 15.27 points (+1.26%) to 1,224.97 points; HNX-Index added 0.33 points (+0.14%) to 233.37 points; UPCoM-Index inched up 0.39 points (+0.43%) to 90.45 points. Market liquidity was at its highest level in 50 sessions with a trading value of nearly VND27,200 billion. Foreign investors net bought more than VND180 billion on all three exchanges.

According to a report from the Ministry of Industry and Trade, the trade balance of goods in January 2024 is estimated to have a trade surplus of 2.92 billion USD. Of which, the domestic economic sector had a trade deficit of 2.12 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 5.04 billion USD.

Specifically, the export turnover of goods in January 2024 is estimated at 33.57 billion USD, up 6.7% over the previous month and up to 42% over the same period in 2022; of which the domestic economic sector increased by 62.6%, the foreign-invested sector (including crude oil) increased by 35.6%. On the other hand, the import turnover of goods in January 2024 is estimated at 30.65 billion USD, up 4.2% over the previous month and up 33.3% over the same period last year.

International News

The average UK house price rose 0.9% month-on-month this month to £362,840, following a 1.3% increase in the previous month, Rightmove said. Compared to the same period in 2023, house prices in the country increased slightly by 0.1% y/y, the first positive y/y increase since July 2023. The main reason was a 16% jump in negotiated home sales in the first six weeks of the year compared to the same period.

Japan's machinery orders rose positively in December 2023. According to the Japanese Cabinet Office, the value of new orders for core machinery, excluding ships and utilities, rose as expected by 2.7% month-on-month in December 2023 after a sharp decline of 4.9% in the previous month, but the figure for the fourth quarter of 2023 was still down 1.0% from the third quarter. Including ships and utilities, the value of orders in December 2023 increased by 10.3% month-on-month. Experts forecast that the value of total and core orders in the country in the first quarter of 2024 continued to increase by 0.8% and 4.6% respectively compared to the previous quarter.

Source link