According to local media reports, the central bank of Vietnam plans to invest up to 48.8 trillion dong into the banking system through a dollar-Vietnamese dong swap tool, and the Vietnamese stock market recorded the biggest increase in two weeks. The VN Index rose as high as 2.3%, the biggest increase since October 21. Vingroup, Vinhomes, and Vietnam Foreign Trade Bank were the main drivers of the index, with increases of no less than 2%. Tyler Meng Dung Nguyen, chief market strategist at Ho Chi Minh City Securities, said that the central bank's foreign exchange tool is expected to ease the pressure, supplement the liquidity of the Vietnamese dong, and reduce the upward pressure on domestic interest rates. “Local retail sentiment picked up somewhat after the news broke.”

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