Vietnam bonds fall on credit crisis concerns

Vietnam’s five-year bonds fell on concern that foreign investment and exports may decline because of the turmoil in the world’s financial markets. The dong remained unchanged.

The yield on the benchmark five-year note rose 3 basis points to 15.99 percent, according to Bloomberg data.

“There are still some concerns that foreign investment in Vietnam and the country’s exports may fall because of the global credit crisis,” said Nguyen Xuan Minh, chief executive officer of Ho Chi Minh City-based Vietnam Asset Management. “This has been hurting investor confidence in both bonds and stocks.”

The local currency remained unchanged at 16,615 as of 4:45 p.m. in Hanoi.

The central bank Thursday set the reference rate at VND16,515 to the US dollar, compared with 16,513 Thursday, according to its website. The currency is allowed to trade up to 2 percent higher or lower than the rate.

Thanhnien

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