Government bond market in March 2025: raising 65,329 billion VND through auction.

(Chinhphu.vn) – According to the Hanoi Stock Exchange (HNX), in March 2025, the government bond market saw active trading in both the primary and secondary markets.

(Chinhphu.vn) – According to the Hanoi Stock Exchange (HNX), in March 2025, the government bond market saw active trading in both the primary and secondary markets.

The value of funds raised increased by 124% compared to February.

Accordingly, on the primary market, HNX organized 15 auctions of government bonds issued by the State Treasury, raising 65,329 billion VND, an increase of 124% compared to the value raised in February. Cumulatively in the first three months of 2025, the State Treasury has raised 110,440 billion VND through government bond auctions, reaching 99.5% of the Q1 issuance plan and 22.09% of the 2025 annual plan.

Bonds successfully issued in March had four maturities: 5, 10, 15, and 30 years, with the majority being 10-year bonds accounting for 92.6%, equivalent to VND 60,523 billion. Interest rates for government bonds issued at the end of March for the 5-year, 10-year, 15-year, and 30-year maturities were 2.15%, 2.96%, 3.05%, and 3.28%, respectively. The 5-year interest rate increased slightly by 0.05% per annum compared to the end of the previous month, while the remaining maturities saw slight decreases or remained unchanged.

On the secondary market, the value of listed government bonds as of March 31, 2025 reached VND 2,318,161 billion. The average daily trading value in March reached VND 16,528 billion/session, an increase of 23.8% compared to the previous month.

In the first three months of 2025, the total value of secondary market transactions reached VND 791,118 billion, with an average daily transaction value of VND 13,640 billion/session, an increase of 15.79% compared to the average for the whole year of 2024.

Trading volume on the UPCOM market decreased.

After strong growth in February, the UPCoM market experienced a sharp decline in trading volume in March 2025. The UPCoM Index closed the last trading session of the month at 98.05 points, down 1.53%. Average trading volume decreased by 21.94% compared to February, reaching over 54.13 million shares/session, while average trading value decreased by 23.48%, reaching over VND 721.87 billion/session. The trading session on March 10, 2025, recorded the highest trading volume of the month at over 71.1 million shares. Additionally, the trading session with the highest trading value of the month, exceeding VND 1,018 billion, was on March 13, 2025.

In terms of liquidity, HNG shares of Hoang Anh Gia Lai International Agriculture Joint Stock Company (JSC) continued to be the most actively traded stock on UPCoM over the past 5 months with 97.75 million shares, accounting for 8.6% of the total market. Following closely behind was ABB shares of An Binh Commercial Joint Stock Bank with a trading volume of over 85.83 million shares, representing 7.55%. BVB shares of Ban Viet Commercial Joint Stock Bank maintained its third position with a trading volume of over 82.05 million shares, accounting for 7.22%.

Regarding trading prices, the strongest price increase in March 2025 was for TMW stock of Tan Mai Wood General Corporation, closing at 34,000 VND, a 183.33% increase compared to the previous month...

Foreign investors' trading volume on UPCoM decreased by 6.68% compared to the previous month, with foreign investors continuing to net sell over VND 582 billion, selling VND 729 billion and buying over VND 147 billion. The stock most heavily bought by foreign investors continued to be ABB of An Binh Commercial Bank with a trading volume of over 1.26 million shares (accounting for 18.3%), followed by DRI of Dak Lak Rubber Investment Joint Stock Company with a trading volume of over 681,000 shares (accounting for 9.9%). On the selling side, QNS of Quang Ngai Sugar Joint Stock Company was the stock most heavily sold by foreign investors with a trading volume of over 4.68 million shares, accounting for 25.22%...

Securities companies significantly increased their proprietary trading on UPCoM, with a total trading value exceeding VND 445.27 billion, a 115.44% increase compared to the previous month. During this period, securities companies continued to net sell VND 146.44 billion on UPCoM, specifically with a buying value of VND 149.41 billion and a selling value of VND 295.85 billion.

In March, the UPCoM market welcomed one new company and saw three companies deregister. Two companies deregistered to list their shares on the HOSE and HNX exchanges, and one company had its public company status revoked. As of the end of March 2025, the UPCoM market had 886 companies with a total registered trading value exceeding VND 473 trillion. The market capitalization as of March 31, 2025, reached VND 1,421 trillion, a decrease of 4.55% compared to the previous month.

Overall, in the first quarter of 2024, the average trading volume on the UPCoM market reached 57.15 million shares/session and the average trading value reached VND 784 billion/session, an increase of 6.18% in trading volume and a decrease of 13.27% in trading value compared to the average of 2024.

Mr. Minh

Source: https://baochinhphu.vn/thi-truong-tpcp-thang-3-2025-huy-dong-65329-ty-dong-qua-dau-thau-10225040219520176.htm