TOPI NEWSLETTER WEEKLY November 1, 2023

1- Market information.

On November 1, as expected by the market, the Fed decided not to raise interest rates after a two-day policy meeting. Reference interest rates in the US are currently around 5.25-5.5% – the highest in 22 years.

On November 5, the world’s two leading oil exporters, Russia and Saudi Arabia, announced that they would still voluntarily reduce production until the end of this year. Reuters quoted a source from the Saudi Arabian Ministry of Energy as saying that the country will still reduce production by another 1 million barrels a day, maintaining output around 9 million barrels a day in December. On the same day, Russian Deputy Prime Minister Alexander Novak also announced a continued reduction in exports of 300,000 barrels a day of crude oil and oil products.

According to data from the General Department of Customs, state budget revenue from import and export activities in October 2023 has many positive signs when it increased by 17.2% compared to the previous month, reaching VND 32,469 billion. However, in the cumulative 10 months, budget revenue managed by the customs industry still decreased by 17% over the same period.

2- Gold market

Last week, world gold prices adjusted downward after the FED kept interest rates stable. Closing the weekend session at 1992.2 USD/ounce (down 0.67%). Domestically, SJC gold price fluctuated in the same direction, decreasing from 300,000 – 700,000 VND/tael. Specifically, DOJI Group is listing the buying and selling price of SJC gold at 68 – 69.5 million VND/tael.

3- Stock fund certificates

The stock market experienced a quite positive trading week. Considering the whole week, VN-Index increased 16.16 points, to 1,076.78 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, VESAF stock fund certificates are having the best performance since the beginning of 2023 up to now at 23.81%.

4- Bond fund certificates

In the past week, bond funds have maintained a stable profit level with a positive rate of return of over 5%. Among them, VCBF-FIF bond fund certificates are having the best performance level from the beginning of 2023 until now is 8.98%.