Economic news review November 6

The central exchange rate increased by 10 VND, the VN-Index increased sharply by 15.52 points or the CPI in October 2024 increased by 0.33% compared to the previous month... are some notable economic information on November 6.

Economic news review

Domestic news

Foreign exchange market, session 06/11, State Bank listed the central exchange rate at 24,258 VND/USD, up 10 VND compared to the previous session.

The State Bank of Vietnam's transaction office kept the listed USD buying and selling prices unchanged at 23,400 VND/USD and 25,450 VND/USD, respectively.

On the interbank market, the dollar-dong exchange rate closed at 25,385 VND/USD, up 39 VND compared to the session on November 5.

The dollar-dong exchange rate on the free market dropped sharply by 180 VND in both buying and selling directions, trading at 25,600 VND/USD and 25,700 VND/USD.

Interbank money market, on November 6, the average interbank VND interest rate decreased sharply by 0.53 - 0.88 percentage points for all terms from 1 month or less compared to the previous session; specifically: overnight 4.77%; 1 week 4.84%; 2 weeks 4.93 and 1 month 4.97%. The average interbank USD interest rate remained unchanged for short terms while decreasing by 0.01 - 0.02 percentage points for 2-week and 1-month terms, trading at: overnight 4.84%; 1 week 4.88%; 2 weeks 4.90%, 1 month 4.93%.

Government bond yields in the secondary market increased for 5-year and 7-year terms, and remained unchanged for the remaining terms; closing at: 3-year 1.88%; 5-year 1.92%; 7-year 2.20%; 10-year 2.71%; 15-year 2.92%.

In open market operations, on the mortgage channel, the State Bank bids VND15,000 billion, with a term of 07 days, and an interest rate of 4.0%. VND14,999.99 billion was won. VND3,000 billion matured on the mortgage channel. The State Bank bids for SBV bills with a term of 28 days, with an interest rate auction. VND600 billion was won, with an interest rate of 3.90%. VND3,300 billion matured.

Thus, the State Bank of Vietnam pumped a net VND14,699.99 billion into the market through the open market channel yesterday. There were VND70,999.91 billion circulating on the mortgage channel, and VND76,800 billion in treasury bills circulating on the market.

Bond market: On November 6, the State Treasury successfully bid for VND6,099 billion/VND10,000 billion of government bonds, with a winning bid rate of 61%. Of which, the 5-year term mobilized VND1,000 billion/VND3,000 billion of the bid, the 10-year term mobilized the entire VND5,000 billion of the bid, and the 30-year term mobilized VND99 billion/VND500 billion of the bid. The 15-year and 20-year terms called for VND1,000 billion and VND500 billion, respectively, but there was no winning bid volume for either term. The winning interest rate for the 5-year term was 1.90% (+0.01 percentage point compared to the previous auction), the 10-year term was 2.66% (unchanged) and the 30-year term was 3.10% (unchanged).

Yesterday's stock market witnessed investors' optimistic sentiment with increased buying power. At the end of the session, VN-Index increased sharply by 15.52 points (+1.25%) to 1,261.28 points; HNX-Index added 2.91 points (+1.29%) to 227.76 points; UPCo monthly-Index increased by 0.80 points (+0.88%) to 92.71 points. Market liquidity improved with a trading value of nearly VND15,500 billion. Foreign investors continued to net sell nearly VND375 billion.

According to the General Statistics Office, the consumer price index (CPI) in October 2024 increased by 0.33% over the previous month. Compared to December 2023, the CPI in October increased by 2.52% and compared to the same period last year, it increased by 2.89%. On average, in the first ten months of 2024, the CPI increased by 3.78% over the same period last year; core inflation increased by 2.69%.

International News

Former US President Donald Trump was re-elected. As of about 5:00 p.m. on November 6, Vietnam time, former US President Donald Trump of the Republican Party won 277 electoral votes, thereby winning against Vice President Kamala Harris of the Democratic Party in the race for the 47th US President.

In addition, the Republican Party has also taken control of the US Senate with 52 seats, the Democratic Party currently has 44 seats (out of a total of 100 seats). In the House of Representatives, this party is temporarily leading with 205 seats while the Democratic Party has only achieved 190 seats (out of a total of 435 seats).

After Mr. Trump won the election, the world gold price plummeted, and at the same time the US stock market exploded. The Dow Jones Industrial Average reached 43,778 points, an all-time high. According to the schedule, the new President Donald Trump will officially take office on January 20, 2025, and the world continues to wait for the power transition and the first policy signals in the 2025-2028 term.

Regarding the US Federal Reserve (Fed), the meeting of this agency was postponed one day compared to the regular schedule. The results of the meeting will be announced early tomorrow morning, November 8, Vietnam time.

The S&P Global survey said the UK construction PMI index was at 54.3 points in October, down from 57.2 points in the previous month and lower than the forecast of 55.3 points. However, this is still the eighth consecutive month of expansion in the construction sector in this country. Today, the market is waiting for the results of the Bank of England (BOE) meeting, announced at 17:00 Vietnam time. The (BOE) policy rate is expected to be reduced by 25 basis points, from 5.0% to 4.75%.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-611-157536-157536.html