VN-Index reversed from a weak open to close up 33.4 points (+1.97%) at 1,733.02 on Nov 4, recovering the 1,700-point psychological level lost after a string of losing sessions. Nguyễn Thế Minh of An Bình Securities (ABS) said the U.S. mid-term congressional election on Nov 3, along with a weaker U.S. dollar and U.S. Treasury yields, could ease currency pressure on emerging markets like Vietnam. The same day, the State Bank of Vietnam announced a VND liquidity plan via 182-day USD/VND FX swaps of up to USD 2 billion, to be executed on Nov 6, which could initially inject up to about VND 48,800 billion; the tenor is longer than the 7-day swap in September. MB Securities (MBS) noted that November has risen in 70% of the past 10 years, averaging 3.8% gains, but many stocks have broken below October's lows even as large caps supported the index. Minh said a sustainable rally needs improved cash flow and continued gains in leading stocks.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Chứng khoán bất ngờ tăng dựng đứng 33 điểm, chuyện gì đang xảy ra?
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VNINDEXexchange ratesUS dollarbondsState Bank of Vietnammidterm elections
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Related tickers and likely impact
VNINDEX
▲ Likely positiveRelevance: high
| Market | Vietnam stocks |
|---|---|
| Close on 11/04/2026 | 1,733.02 |
| Change that session | +1.97% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Breaking: State Bank of Vietnam wants to inject longer-term liquidity into the banking system via FX swap channel
The State Bank of Vietnam (SBV) plans to supply nearly 48,800 billion VND to the banking system through a 182-day USD/VND swap, capped at 2 billion USD. For the Nov. 6 intervention, the spot buying rate is set at 24,399 VND/USD and the forward selling rate at 24,704 VND/USD, with a value date of Nov. 9, 2026. Credit institutions sell USD to the SBV for VND and commit to buy back the currency at maturity, and only those with medium- and long-term foreign loans or international bonds with at least 12 months remaining are eligible. The tenor is much longer than the 7-day swap in September, which helps banks plan VND funding more proactively into year-end and early next year. The move is part of broader SBV measures to support liquidity and lower funding costs, including its earlier request that banks cut deposit and lending rates.
- USD Price Drops Close to VND 25,900
Bank dollar rates kept falling through the past week, reaching their lowest level in about a year and a half on the morning of 4 November, with Vietcombank quoting VND 25,520–25,930 per USD. The State Bank of Vietnam set the central rate at 25,267 dong per dollar, down 3 dong, and commercial banks may trade within a 5% band. Over the week the dollar fell nearly 100 dong (0.35%) and about 1.7% since the start of the year, while the US Dollar Index dropped nearly 0.9% to around 101.3 points. Techcombank expects USD/VND to hover near 26,000, supported by an interest rate gap of over 3 percentage points and record FDI disbursement of USD 21.1 billion in the first nine months, up 12%.
- Bank exchange rates slide
Banks have cut their USD buying and selling rates for eight straight days, lowering them by nearly 100 dong in total, to 25,560–25,970 dong, the lowest in about a year and a half. Some banks also lowered their selling rate to 25,940 dong, while the State Bank's central reference rate of 25,630 dong fell for a fourth consecutive session. On the free market, rates edged up to around 26,000–26,200 dong as year-end remittance inflows rose. Analysts cite a trade surplus, record FDI and strong GDP growth as support for the dong, but pressure remains as the USD is expected to strengthen in the final months of the year on high oil prices and expectations the Fed will keep rates high. UOB forecasts the year-end rate at 26,300 dong, while MB Securities projects 26,800–27,000 dong.
- Vietcombank Dollar Quote Rises as Vietnam Cuts Reference Rate
On Monday, Vietcombank raised its dollar selling rate to VND26,100, up 0.08% from the weekend level, while the State Bank of Vietnam cut its reference rate by 0.02% to VND25,633, according to VnExpress. The dollar was trading near VND26,000 at unofficial exchange points. In international markets, the dollar index stood at 101.83, and the euro fell 0.1% to $1.1225 in early Asian trade, which Reuters linked to violent protests in France. The dollar traded at about 158 yen, the pound held at $1.3329, and the Australian dollar gained 0.3% to $0.6965.
- SJC gold bars flat, holding at 143.3 million VND per tael
On the morning of 15/10, SJC gold bars were unchanged at major firms, holding at 143.3 million VND per tael on the sell side, about 13 million VND above the converted world gold price (around 130.3 million VND per tael, based on about 4,147 USD per ounce). The State Bank's central USD rate was 25,642 VND, down 4 VND from the previous session. Vietcombank quoted 25,680-26,090 VND per USD, while gold rings at Bảo Tín Minh Châu fell 200,000 VND per tael.
- Vietnam enters a period of its strongest capital demand growth in years; expert points to key capital channels for the coming period
S&I Ratings believes Vietnam's economy will likely keep its positive growth momentum in Q4 2026, driven by manufacturing, public investment and exports, although the outlook for the final months of the year is more challenging than the first half. At its September 2026 meeting, the Fed raised its policy rate by 25 basis points to 3.75%-4% and signaled it would keep rates high for longer, reversing the 2024-2025 period when it cut rates six times. The US 10-year Treasury yield rose to about 5.3%, while Vietnam's 10-year government bond yield stayed around 4.45%, a gap that could reduce the appeal of VND assets and add pressure on the USD/VND exchange rate. The State Bank of Vietnam must balance low rates to support growth with exchange-rate stability. The report says full-year 2026 growth will likely reach its highest level in several years, but the 10% target will be a major challenge.
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- All 46/46 Banks Cut Deposit Rates as Lending Rate Cuts Spread Widely
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- More than 20 banks roll out preferential lending packages, cutting rates by 1.5–2%
Deputy Governor Pham Thanh Ha of the State Bank of Vietnam said more than 20 banks have announced preferential credit programs cutting lending rates by 1.5–2% per year for production, business and priority sectors. State-owned and foreign commercial banks have cut listed rates by about 0.5% per year, while joint-stock banks have cut by 0.5–0.7%. As of late October, deposit rates on new deposits fell about 0.4% from the previous month and rates on new loans fell 0.2–0.5%. From November 1, the central bank introduced a 6-month VND swap tool to support medium-term liquidity and said it will take measures against credit institutions that fail to follow the rate-cut directive. The Prime Minister has asked the central bank to strengthen supervision to ensure the rate cuts are substantive.
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