Economic news review December 2

The central exchange rate decreased by 11 VND, the VN-Index increased slightly by 0.75 points, or the State Bank of Vietnam withdrew a net 11,199.91 billion VND from the market... are some notable economic news on December 2.

Economic news review

Domestic news

In the foreign exchange market session on December 2, the State Bank listed the central exchange rate at 24,240 VND/USD, down 11 VND compared to the session at the end of last week.

The buying and selling prices of USD were kept unchanged by the State Bank of Vietnam at 23,400 VND/USD and 25,450 VND/USD, respectively.

On the interbank market, the dollar-dong exchange rate closed at 25,394 VND/USD, up 22 VND compared to the session on November 29.

The dollar-dong exchange rate on the free market decreased by 80 VND for buying and 70 VND for selling, trading at 25,610 VND/USD and 25,720 VND/USD.

On December 2, the average interbank VND interest rate increased sharply by 0.09 - 1.09 percentage points in all terms from 1 month or less compared to the session at the end of last week; specifically: overnight 4.22%; 1 week 4.48%; 2 weeks 4.66% and 1 month 4.88%.

The average interbank USD interest rate decreased by 0.01 - 0.03 percentage points in most terms except for the overnight term, trading at: overnight 4.60%; 1 week 4.66%; 2 weeks 4.70%, 1 month 4.73%.

Government bond yields in the secondary market remained unchanged at the 3-year term while slightly increasing at the 5-year and 7-year terms, and decreasing at the remaining terms; closing at: 3-year 1.88%; 5-year 1.97%; 7-year 2.28%; 10-year 2.75%; 15-year 2.95%.

Yesterday's open market operations, on the mortgage channel, the State Bank of Vietnam bid 10,000 billion VND, 7-day term, interest rate at 4.0%. There were 10,000 billion VND won bids. There were 19,999.91 billion VND maturing on this channel. The State Bank of Vietnam bid for SBV bills with 2 terms of 14 days and 28 days, bidding for interest rates. There were 1,500 billion VND won bids with 14-day term, interest rate at 3.9%; there were no winning bills with 28-day term. There were 300 billion VND maturing bills.

Thus, the State Bank of Vietnam net withdrew VND11,199.91 billion from the market through the open market channel yesterday. There were VND43,999.94 billion circulating on the mortgage channel, and VND21,280 billion in treasury bills circulating on the market.

On the stock market yesterday, the two main indices increased with low trading volume, showing investors' hesitation. At the end of the session, VN-Index increased slightly by 0.75 points (+0.06%) to 1,251.21 points; HNX-Index added 0.68 points (+0.30%) to 225.32 points; UPCoM-Index decreased by 0.30 points (-0.32%) to 92.44 points. Market liquidity was low with a trading value of over VND12,800 billion. Foreign investors net sold nearly VND422 billion on all three exchanges.

On December 1, the Politburo and the Central Party Secretariat held a national conference to disseminate and summarize the implementation of Resolution No. 18-NQ/T of the 12th Party Central Committee; the socio-economic situation in 2024, solutions to accelerate socio-economic development in 2025; and remove institutional bottlenecks and bottlenecks. Pointing out a number of key targets for 2025, including GDP growth of about 6.5-7%, the Prime Minister emphasized that priority should be given to growth, striving for GDP growth of about 8% to create momentum, create force, and create momentum to implement the plan for 2026 and the entire 2021-2030 period; complete at least 3,000 km of expressway, basically complete Long Thanh airport, major projects, eliminate temporary and dilapidated houses nationwide, etc.

International News

The Institute for Supply Management (ISM) said its manufacturing PMI rose to 48.4% in November, up from 46.5% in October and above the forecast of 47.7%. This is the highest manufacturing PMI in the US since July.

The Australian Bureau of Statistics (AB)S announced that retail sales in the country increased by 0.6% compared to the previous month in October, following a 0.1% increase in the previous month and surpassing the forecast of a 0.4% increase. Compared to the same period in 2023, retail sales in October increased by about 3.4%.

Building permits rose 4.2% in October from the previous month after a strong 5.8% increase in September, well above the forecast of a 1.2% increase. Year-over-year, permits in October rose 6.1%.

Finally, according to ABS statistics, Australian corporate profits fell 4.6% quarter-on-quarter in the third quarter, following a sharp 6.8% decline in the second quarter and contrary to forecasts of a slight increase of 0.6%. Compared to the same period in 2023, net profits declined by about 8.5%.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-212-158361-158361.html