越南胡志明股票指数 (VN) 加自选

越南10年期政府债券收益率升至3.23%的19个月高点。在过去的4周里，越南10年期债券收益率上涨了8.10个基点，在过去的12个月里，它上涨了27.90个基点。

Vietnam 10 Year Government Bond Yield increased to a 19-month high of 3.23%. Over the past 4 weeks, Vietnam 10Y Bond Yield gained 8.10 basis points, and in the last 12 months, it increased 27.90 basis points.

标准普尔全球越南制造业采购经理人指数在2025年5月升至49.8，高于4月份的45.6，这是自2023年5月以来最大的收缩。这是工厂活动连续第二个月收缩，受美国关税影响导致国外销售下降，新订单减少的拖累。然而，产出恢复增长，因为据报道，围绕关税政策的更大稳定性有助于支持产量的再次增长。随着企业根据生产需求调整人员配置水平，就业人数略有下降，为去年10月以来的最低水平。与此同时，由于新订单量减弱，积压的工作继续下降。采购活动三个月来首次略有上升，而交货时间略有延长。在价格方面，投入成本自2023年7月以来首次下降，而产出价格也小幅下降。最后，在更稳定的关税条件的支持下，商业情绪有所改善。

The S&P Global Vietnam Manufacturing PMI rose to 49.8 in May 2025, up from April’s 45.6, which had marked the steepest contraction since May 2023. This was the second consecutive month of contraction in factory activity, weighed down by reductions in new orders amid a decline in foreign sales due to the impact of US tariffs. However, output returned to growth, as greater stability around tariff policies reportedly helped support a renewed rise in production. Employment declined marginally—at the slowest pace since last October—as firms adjusted staffing levels in line with production needs. Meanwhile, backlogs of work continued to fall amid weaker new order volumes. Purchasing activity rose slightly for the first time in three months, while delivery times lengthened modestly. On prices, input costs fell for the first time since July 2023, while output prices also declined modestly. Lastly, business sentiment improved, supported by more stable tariff conditions.

越南盾升至1344.00指数点的3年高点。在过去的4周里，越南胡志明市股票指数上涨了9.41%，在过去的12个月里，它上涨了4.72%。

VN increased to a 3-year high of 1344.00 Index Points. Over the past 4 weeks, Vietnam Ho Chi Minh Stock Index gained 9.41%, and in the last 12 months, it increased 4.72%.

越南的年通货膨胀率从前一个月的3.13%降至2025年4月的3.12%。主要的下行压力来自运输业的通货紧缩加剧（3月份为-6.89%对-4.07%）。此外，纺织品、鞋类和帽子（1.09%对1.16%）、文化、娱乐和旅游（2.14%对2.16%）、药品和医疗服务（13.56%对14.59%）以及其他商品和服务（6.4%对6.53%）的价格增长速度较慢。与此同时，食品和非酒精饮料（4.09%对3.83%）、住房和建筑材料（5.73%对5.30%）以及饮料和烟草（2.07%对2.05%）的价格加速上涨。按月度计算，2025年4月消费者价格指数上涨0.07%，从前一个月0.03%的跌幅反弹。与此同时，不包括波动性项目的核心通胀率从上个月的3.10%加速至2025年4月的3.14%，达到2023年11月以来的最高水平。

The annual inflation rate in Vietnam edged lower to 3.12% in April 2025 from 3.13% in the previous month. The main downward pressure came from a deepening deflation in transport (-6.89% vs -4.07% in March). Moreover, prices increased at a softer pace for textiles, footwear, and hats (1.09% vs 1.16%), culture, entertainment, and tourism (2.14% vs 2.16%), medicines and medical services (13.56% vs 14.59%) and other goods and services (6.4% vs 6.53%). Meanwhile, prices accelerated for food and non-alcoholic beverages (4.09% vs 3.83%), housing and building materials (5.73% vs 5.30%), and drinks and tobacco (2.07% vs 2.05%). On a monthly basis, the consumer prices rose 0.07% in April 2025, rebounding from a 0.03% fall in the previous month. Meanwhile, core inflation, which excludes volatile items, accelerated to 3.14% in April 2025 from 3.10% in the previous month, marking its highest level since November 2023.