1- Market information.

On August 15, the Central Bank of Russia announced an increase in interest rates from 8.5% to 12% in an emergency meeting held after the ruble price plummeted. This is the second time in a row that the Russian Central Bank has raised interest rates, and is also the strongest since the beginning of the war in Ukraine. The meeting was held a month earlier than planned, after the ruble yesterday broke the mark of 100 RUB per USD, falling to a 17-month low.

On August 17, China Evergrande Group, once the second largest real estate company in China, filed for bankruptcy protection under Chapter 15 of the US Bankruptcy Protection Law. The company’s total debt is currently about 2,437 billion yuan (340 billion USD). This number is equivalent to 2% of China’s GDP.

The Ministry of Finance of Vietnam is researching and developing a project on the Law on Real Estate Tax, including research on taxes on second homes, taxes on vacant houses and land, ensuring compliance with economic conditions. Vietnam’s socio-economic situation, in accordance with international practices.

2- Gold market

Last week, world gold prices continued to decrease by more than 1%, losing the mark of 1,900 USD/ounce because of concerns that interest rates in the US will remain high for a longer period of time. Closing the trading session at 1,889.5 USD/ounce, down 1.2%. Domestically, SJC gold price fluctuated in the opposite direction, increasing from 100,000 – 350,000 VND/tael. Specifically, DOJI Group is listing the buying and selling price of SJC gold at 66.95 – 67.7 million VND/tael. Other types of gold jewelry moved sideways during the weekend session.

3- Stock fund certificates

The stock market had a cautious trading week, dropping sharply in the weekend session. For the whole week, VN-Index decreased a total of 54.22 points (-4.4%), to 1,177.99 points. Open-ended stock funds still maintain performance compared to the market, the risk level of the portfolio is always maintained lower than the general market. In there, VCBF-MGF stock fund certificates are having the best performance from the beginning of 2023 until now at 30.82%.

4- Bond fund certificates

In the past week, bond funds have maintained a stable profit level with a positive rate of return of over 4%. Among them, VCBF-FIF bond fund certificates are having the best performance level from the beginning of 2023 until now is 6.31%.

Analytical report