They were worth VND164 trillion ($7.13 billion), 8.9 percent of them being global bonds, and banks accounting for 41 percent of the total capital raised.

The issuances in the first half added up to VND208.9 trillion, an 18.3 percent rise. Of the capital raised, property companies accounted for 44.2 percent, banks for 32.7 percent and energy, mining, infrastructure development, and non-banking financial companies for the rest.

The average coupon rate on the bonds issued in the second quarter was 9.95 percent, and this big gap with bank deposit interest rates fueled the market’s strong growth, according to SSI Securities.

Well over half the bonds were bought by banks and securities companies, though the latter often sold them quickly in the market.

According to SSI, demand for bonds will remain high for the rest of this year mainly due to the gap between their interest rate and those of banks.

Besides, demand for debt would increase when the stock market slows down, it pointed out.