1- Market information.
On October 6, the Russian Government announced the lifting of the ban on diesel exports via pipeline, after only a few weeks of applying this policy.
The World Trade Organization (WTO) forecasts that global trade growth in 2023 will only reach 0.8%, down by half compared to before. In April, the WTO said that global trade growth this year could reach 1.7%. However, rising interest rates reduced consumer spending in the US, Europe and Asia, causing the 164-member organization to sharply adjust its forecast. The WTO said the trade recession was widespread, involving many types of goods, especially iron and steel, office and telecommunications equipment, and textiles.
According to the results of a survey of business trends of credit institutions in the fourth quarter of 2023 conducted by the Department of Forecasting and Statistics (State Bank), banks simultaneously lowered their forecasts for deposit growth and increased credit growth in 2023. Credit institutions expect the average deposit and lending interest rates across the system to continue to decrease by 0.26 – 0.35% in the fourth quarter of 2023.
2- Gold market
Last week, world gold prices fell for 9 consecutive sessions as strong economic reports in the US boosted bets that the Fed will continue to raise interest rates next month. Closing the weekend trading session at 1,833.1 USD/ounce. Domestically, SJC gold price fluctuated in the opposite direction, increasing from 100,000 – 3550,000 VND/tael. Specifically, DOJI Group is listing the buying and selling price of SJC gold at 68.8 – 69.6 million VND/tael.
3- Stock fund certificates
The main indexes simultaneously increased in the last session of the week. At the end of the session, VN-Index increased 14.65 points, to 1,128.54 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 31.03%.
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, DFVN-FIX bond fund certificates are having the best performance level from the beginning of 2023 until now is 8.23%.