Uptrend continued in December; VNI finished 2020 at its highest level since April 2018. Despite the US Treasury’s announcement labelling Vietnam as a currency manipulator that dampened market sentiment and caused a 1.4% drop on December 17, the VNI rebounded to gain 10% in December and finish 2020 at 1,103.9 points, marking a 14.9% gain for the year. The rally in December was driven by the ongoing recovery of the economy, a low interest rate environment and rising confidence given the successful