Southeast Asia’s GDP growth is likely to remain at 4.5 percent in 2020, amid high risks of a re-escalation in trade tensions between the US and China, according to the latest report produced by the British advisory firm Oxford Economics.
Many banks and finance companies have proactively adopted technologies to provide digital financial services, Nguyen Hoang Minh, a senior central bank official said.
The Hanoi Stock Exchange (HNX) held 25 auctions in November, mobilising over 26 trillion VND (1.12 billion USD) worth of G-bonds, up 29 percent from the previous month.
The State Treasury has mobilised more than 182.4 trillion VND (7.88 billion USD) through Government bond auctions on the Hanoi Stock Exchange (HNX) so far this year, fulfilling 73 percent of the yearly plan.
Several local banks have reduced their interest rates in recent days, going against the banking sector’s general year-end trend of increasing rates to boost earnings.
The State Treasury mobilised more than 3.3 trillion VND (142.16 million USD) through the latest G-bond auction on the Hanoi Stock Exchange (HNX) on November 7.
The Statistics Indonesia (BPS) announced on November 4 that the country’s economic growth reached 5.02 percent in the third quarter, the lowest level in more than two years.
The VN-Index is expected to enter an uptrend towards a new resistance zone after successfully penetrating the psychological resistance mark of 1,000 points, analysts said.
The State Bank of Vietnam (SBV) set the daily reference exchange rate at 23,135 VND per USD on November 4, down 3 VND from the last working day of previous week (November 1).
The State Treasury has mobilised nearly 174.2 trillion VND (around 7.5 billion USD at current exchange rate) through Government bond auctions on the Hanoi Stock Exchange (HNX), fulfilling 70 percent of the yearly plan.
Priorities in Asia’s trade and economic policies in 2020 were the focus of a workshop which was held late October in Jakarta, Indonesia, attracting the participation of Indonesian and foreign economists and scholars, besides Indonesian policy makers and foreign diplomats.
Indonesia's central bank cut interest rates for the fourth month in a row on October 24 as Southeast Asia's largest economy looks to counter slowing global growth.
Singapore on October 14 decided to ease monetary policy for the first time in more than three years as the national economy has narrowly avoided recession in the third quarter of 2019.
More than 150 enterprises successfully issued bonds worth total 179.1 trillion VND (7.7 billion USD) in the first nine months of this year, a report on the Hanoi Stock Exchange bond market showed on October 8.
Commercial banks are expected to lower lending interest rates after getting more support to cut input costs from the State Bank of Vietnam (SBV)’s agencies this week.
Experts suggested firms use more derivative instruments, such as futures and forward contracts, to minimise exchange rate risks when they can no longer borrow the US dollar from commercial banks, starting early this month.
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