The Romanian capital market ended 2025 on solid developments, despite an international environment marked by uncertainty and volatility, with the BET index reflecting the performance of the most liquid BVB stocks surging 46% from the end of 2024, according to a capital market report published by the Financial Oversight Authority (ASF).The capitalisation of the regulated market reached RON 579.46 billion, up about 65%.The total value traded on the regulated market and on the Multilateral Trading System was standing at RON 43.8 billion, marking an advance of over 18%, and stock trades accounted for almost 40% of this amount, or RON 17.27 billion. The government securities segment amounted to RON 10.73 billion, accounting for approximately 25% of the total value traded.On the regulated market, the value of trades in fixed income instruments reached RON 25.34 billion, up 37% year-on-year. Also on the regulated market, stock trades yielded RON 17.15 billion, similar to the previous year.The total value of assets managed by collective investment undertakings exceeded RON 58 billion, up 31% from 2024.According to ASF data, these figures underline the progressive maturation of the Romanian market, an increase in liquidity and a greater ability of investors to absorb important capital flows, despite macroeconomic and inflationary pressures.The capital market developments indicate a sustainable consolidation and a growing confidence in local financial instruments, positioning Romania as a relevant player in the emerging markets region.