HÀ NỘI — The Hà Nội Stock Exchange (HNX) reported that in July 2025, it held 20 government bond auctions issued by the State Treasury, raising a total of VNĐ25.8 trillion ($1 billion).

The bonds were issued with maturities of 5, 10, 15 and 30 years, with 10-year terms accounting for the majority at 84 per cent (VNĐ21.6 trillion) and 15-year terms making up 11 per cent (VNĐ2.9 trillion).

At the final auction of July, winning yields for the 5, 10, 15 and 30-year maturities stood at 2.75 per cent, 3.29 per cent, 3.40 per cent and 3.45 per cent, respectively, marking increases of 16, 11, 13 and 5 basis points from the end of June.

On the secondary market, the listed value of government bonds as of July 31 reached VNĐ2.4 quadrillion. The average daily trading value stood at VNĐ15.71 trillion, down 6.15 per cent from the previous month. Outright transactions accounted for 65.23 per cent of the total, while repos made up 34.77 per cent.

Foreign investors represented 4.27 per cent of overall market transactions, with a net purchase value of VNĐ298 billion.

Yields rose the most for maturities of 3-5 years, 25-30 years and 7-10 years, averaging around 2.6 per cent, 3.5 per cent and 2.8 per cent, respectively. In contrast, yields for 25-year, 5-7 year and 15-year maturities recorded the sharpest declines, averaging 3.07 per cent, 2.4 per cent and 3.05 per cent.

Medium and long-term maturities dominated trading, particularly 10-year (20.86 per cent), 5-year (15.6 per cent) and 7-10 year (11.48 per cent) bonds. Commercial banks maintained their leading market share, accounting for 47.44 per cent of outright transactions and 92.14 per cent of repo transactions across the market. — VNS