Asia Market Opening – June 20, 2025 Morning Edition

By: Oliver Barclay

Overnight Highlights

US markets remained closed Thursday for Juneteenth, leaving Asian investors without fresh American direction. Commodity markets stayed active with WTI crude at $76.86/barrel and Brent closing at $76.99/barrel on Middle East supply concerns. Gold traded at $3,365.86/oz, down 1.99% from $3,434 earlier this week but holding above the critical $3,350 support level.

The dollar's strength continues pressuring emerging market currencies, though Vietnam's managed float provides relative stability. Energy prices remain the primary market driver, with oil's geopolitical risk premium potentially impacting Asian inflation expectations. Without US equity guidance, regional markets focus on domestic fundamentals and commodity price movements.

Vietnam Focus

The VN-Index closed at 1,352.04 points, up 0.39% with trading volume of VND 18,731.53 billion ($720 million). Banking showed modest gains led by CTG (+1.37%) and VCB (+1.07%), while individual stocks saw stronger performances with DGW surging 6.95% and SSI advancing 1.27%. Foreign investors were net sellers with $34.38 million outflow, though domestic buying provided support.

Currency stability supports market confidence with the State Bank reference rate at 25,025 VND per dollar and commercial banks quoting 25,916 VND buy/26,276 VND sell. This 1.4% spread remains within the central bank's ±5% band and reflects stable market conditions crucial for maintaining export competitiveness.

Technical analysis shows immediate support at 1,340 based on previous trading ranges with stronger backing at 1,320. Recent session highs near 1,365 provide clear resistance targets. The index's ability to hold current levels despite foreign selling demonstrates underlying economic strength and domestic institutional participation.

Regional Markets Update