Investors are still preferring corporate bonds to bank deposits, and are withdrawing money from banks to buy corporate bonds to enjoy higher interest rates. The latest report of the Hanoi Stock Exchange (HNX) showed a slowdown in corporate bond issuance in July. The total value of bonds issued in the month was VND26.945 trillion, a decrease of 41 percent compared with June. Of this, VND19.944 trillion was issued privately, a decrease of 56.4 percent. VND7 trillion was issued to the public. In the first seven months of the year, the total value of bonds issued reached VND196.5 trillion, up by 48.5 percent over the same period last year. This included VND179.5 trillion worth of privately issued bonds, up by 37 percent. The bond interest rates are on the decrease. According to SSI, the average interest rate of real estate bonds in Q2 was 10.42 percent per annum, lower than the 10.77 percent in Q1. Excluding bank bonds (which have low interest rates), the average interest rate in Q2 was 10.27 percent, nearly the same as the interest rate in H2 2019. This was attributed to the bank deposit interest rate reductions. Excluding bank bonds (which have low interest rates), the… Read full this story
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