Reasons for gold prices plummeting before the US tax deadline
On the afternoon of July 7, world gold prices fell to a nearly weekly low. The reason for this move is the increase in the USD, in the context that investors are waiting for detailed information about trade before the tax deadline of US President Donald Trump.
Nitesh Shah, commodity strategist at WisdomTree, commented: "We are seeing a slight correction due to the short-term increase of the USD, which could come from the strong US economic data, making the need for immediate interest rate cuts not really urgent."
The USD index rose 0.4% against major currencies, making gold more expensive for buyers holding other foreign currencies. See more...
Japan's biggest salary drop in nearly 2 years
According to preliminary data from the Japanese Ministry of Labor (NHK World Japan), real income in Japan decreased by 2.9% compared to the same period last year, the sharpest decrease since September 2023, marking the fifth consecutive month of decreased real wages. The survey was conducted with about 30,000 enterprises nationwide, with a scale of 5 employees or more.
Japanese workers average 300,000 yen (about $2,070) in salary over the same period, marking the 41st consecutive month of increase. In particular, the basic salary reached 268,177 yen (1,550 USD), up 2.1% over the same period, the 43rd consecutive month of increase. However, this salary increase did not keep up with the inflation rate, which remained above 3% for May and the sixth consecutive month of high inflation. See more...
The 6,400 billion VND park is "forgotten" on paper, people look forward to it every day
Strong cash flow, stocks exceed 1,400 points
Investor sentiment is still excited after the positive tariff information last weekend, helping the stock market have a green session at the beginning of the week.
The focus of the market is on bank - notary - steel stocks, in which the SHB and VIX duo are trading suddenly. Statistics show that in today's session, July 7, nearly 250 million SHB shares were "ao-hands-carried" with a total trading value of VND 3,377 billion.
Notably, SHB is also the stock that foreign investors buy the most on the HoSE with 42.3 million shares, equivalent to VND553 billion.
Not only SHB, banking stocks attract strong cash flow and increase strongly. In addition to SHB, the HoSE electricity board recorded a spectacular breakthrough of banking stocks such as: CTG, BID, VPB, HDB, TCB, MBB, ACB, LPB, SSB, VIB, VCB.
According to statistics, the Top 15 stocks that contribute the most to the index have up to 10 bank codes. The explosion of the "king" group of stocks helped the index increase by more than 15 points (equivalent to 1.09%) and re-establish the threshold of 1,400 points. See more...
