1- Market information.
Trade turnover between Russia and China is about to set a new historical record, possibly reaching 220 billion USD this year. Compared to the same period in 2022, the trade turnover of the two countries in the first 9 months of 2023 has increased by 35 billion USD, equivalent to 27%. Among them, China is the larger contributor to the overall trade increase.
The International Monetary Fund (IMF) has just released its Global Economic Outlook Report. Accordingly, Germany’s nominal GDP is forecast to surpass Japan’s this year. According to IMF calculations, Germany’s nominal GDP will reach 4,430 billion USD this year. Meanwhile, this figure for Japan is only 4,230 billion USD. This will put Germany behind only the US and China in terms of economic size.
According to data from the State Bank, as of October 24, the overnight VND interbank interest rate was 2.84%/year, an increase of 0.62% compared to the previous session (October 23). Besides, at the end of the October 24 session, VND interbank interest rates for terms under 1 month also increased sharply compared to the October 23 session. Specifically: 1 week 3.08% (+0.61%); 2 weeks 2.12% (+0.84%); 1 month 3.2% (+0.8%).
2- Gold market
Last week, escalating tensions in the Middle East pushed world gold prices back up. Closing the weekend trading session at 2,005.6 USD/ounce (up 1.2%). Domestically, SJC gold price fluctuated in the opposite direction, decreasing from 50,000 – 400,000 VND/tael. Specifically, DOJI Group is listing the buying and selling price of SJC gold at 69.95 – 70.75 million VND/tael.
3- Stock fund certificates
At the end of the week, VN-Index suddenly increased again. Considering the whole week, VN-Index increased 47.41 points, to 1,060.62 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 since the beginning of 2023 up to now at 27.58%.
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 8.48%.