Illustrative image (Photo: VNA) Hanoi (VNS/VNA) – Vietnam’s local currency bond market grew 2.6 percent to 52.9 billion USD in the second quarter of this year, after a 0.7 percent expansion in the first quarter. This information was part of the latest report of the Asian Development Bank’s (ADB) Asia Bond Monitor. The report shows Vietnam’s growth was mainly on the back of the 3.2 percent expansion of the Government bond market to 48 billion USD due to issuance of Treasury bonds and central bank bills. “The growth in the Government bond market offset the 3.4 percent contraction of the corporate bond market during the second quarter of 2019 to 5 billion USD,” the report said. According to the report, emerging East Asia’s local currency bond market expanded steadily in the second quarter of 2019 despite downside risks stemming from ongoing trade conflicts, a faster-than-expected economic slowdown in the People’s Republic of China (PRC), and moderating global growth. Emerging East Asia countries and territories comprises of Hong Kong, China; Indonesia; the Republic of Korea; Malaysia; the Philippines; Singapore; Thailand and Vietnam. ADB Chief Economist Yasuyuki Sawada said foreign investment in emerging East Asia remains stable but there are still… Read full this story
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