Stuck in Neutral: Why High Anchoring Continues to Hold You Back
Stocks reverse unexpectedly; Yeah1 reported a profit 10 times higher than the same period
– Gold price: Still anchored at a high level
Gold prices on October 28 on the world market dropped sharply after a long increase. Meanwhile, domestic gold prices are still anchored at a high level but their ability to hold on is not sustainable if world gold continues to decline.
As of 1:30 p.m. on October 28, the domestic gold price continued to move sideways. Accordingly, SJC gold of Saigon Jewelry Company (SJC) and DOJI Jewelry Group continues to maintain its price compared to October 27, trading at 87 – 89 million VND/tael (buying). in – sell out).
SJC gold of Phu Quy Jewelry and Gems Group had a buying price higher than 300,000 VND/tael, trading at 87.3 million VND/tael, while selling was 89 million VND/tael, stable compared to yesterday. October 27.
Thus, the price of SJC gold in the past month (from September 28 to October 28) increased by 5.5 million VND/tael in both buying and selling directions.
Meanwhile, PNJ gold rings in Hanoi and Ho Chi Minh City had small fluctuations, whereby the buying price was at 87.6 VND/tael, stable compared to October 27; The selling price was at 88.89 million VND/tael, down 10,000 VND/tael compared to yesterday.
On the morning of October 28, world gold converted to bank USD price was 84.3 million VND/tael, including taxes and fees, 4.7 million VND/tael lower than the domestic gold price.
Kitco News’s latest weekly gold survey shows that experts and retail traders are no longer optimistic about the gold price outlook. Adrian Day, Chairman of Adrian Day Asset Management, said that investors are concerned about the possibility of gold prices entering a downtrend. Currently, the price of gold depends on a number of factors, such as central banks hoarding gold to reduce dependence on USD, concerns about economic prospects and the situation in the Middle East. Meanwhile, lower interest rates and persistent inflation in North America and Europe continue.
Economic experts say there is a possibility of a price drop this week. The trend is down in the short term although the market still has impacts from the US presidential election.
– Stocks reverse unexpectedly
The stock market had a sudden reversal. Noting a rather gloomy performance with the VN-Index slightly decreasing in the early afternoon of October 28, this index recovered in the last minutes and closed up 2.05 points, equivalent to 0.16%, reaching 1,254.77 points.
This development shows that selling pressure has decreased, creating conditions for demand to increase and helping the market return to green.
However, selling pressure was still present during the trading session, with many large stocks such as VHM falling 2.62%, negatively affecting the main index.
At the end of the session, HoSE had 180 increasing codes and 128 decreasing codes, VN-Index increased 2.05 points (0.16%), to 1,254.77 points. Total trading volume reached more than 562 million units, valued at 12,335 billion VND. Agreement transactions contributed more than 106 million units, worth 2,124 billion VND.
The telecommunications service stocks group recorded good increases, but other industry groups were still under downward pressure. The State Bank issued bills in response to increased exchange rate pressure and foreign investors continued to net sell, creating significant pressure on market developments last week.
Banking stocks fell on a large scale, contributing more than half of the decline to the VN-Index. Notably, EIB shares were suddenly sold strongly at 19,850 VND/share (down 4.8%). Other key stocks also weakened, sinking recovery efforts this week.
Sentiment and cash flow weakened, the market decreased on a large scale with 18/18 industries. The chemical, financial services, and basic resources industries decreased by 2.6-5.9%. Recent negative developments have prevented investors from being cautious and liquidity continues to decline.
Accordingly, investors can take advantage of price drops to increase the proportion of stocks, focusing on stocks with positive third quarter business results and this year’s prospects. As of October 25, 620/1,664 companies on 3 exchanges have announced third quarter business results with a growth rate of 19%.
Third quarter business results are clearly differentiated. The market has 53% of companies with positive profit growth and 19% of companies with losses. Groups contributing to absolute profit growth include LPB, TCB, MSN, FPT while HND, VGC, AGG, ACB decreased over the same period.
The trading session on October 28 reflected investors’ caution, predicting a volatile trading week. Although the initial trading session was not favorable, optimism gradually returned at the end of the session, creating a positive signal for investors.
Experts from Vietcombank Securities Company recommend that investors maintain a moderate portfolio proportion, and for investors with high risk appetite, they can select stocks with some signals such as market performance. Accumulation closely follows the MA20 line, verifies the convincing support zone and is less affected by current market trends and fluctuations to consider disbursement for short-term surfing goals to take advantage of recovery sessions of the general market. Some industry groups that can be considered are real estate, telecommunications – technology.
– The General Department of Taxation fined a securities company more than 160 million VND
Stanley Brothers Securities Joint Stock Company (SBSI, UPCoM: VUA) has just been fined by the General Department of Taxation for tax administrative violations totaling nearly 164 million VND.
Specifically, Stanley Brothers Securities declared deductions for purchase invoices of businesses no longer operating at the registered address, incorrectly declared deductible value-added tax (VAT), and under-declared. Revenue from self-trading securities business activities.
Regarding corporate income tax (CIT), Stanley Brothers Securities has accounted for business expenses of purchases not operating at the registered address, accounting for loan interest expenses for individuals exceeding 150% of the interest rate. of the State Bank.
With the above errors, in addition to nearly 164 million VND fined, Stanley Brothers Securities must pay nearly 277 million VND to overcome the consequences, including underpaid VAT and CIT in the period 2019-2023 and money. Late payment of VAT and corporate income tax.
Thus, in total, the amount Stanley Brothers Securities must pay is more than 430 million VND.
However, because Stanley Brothers Securities had overpaid VAT of more than 39 million VND in 2019, overpaid corporate income tax of nearly 14 million VND in 2020 and more than 1 million VND in 2021, it will be offset and only have to pay money. Back taxes, fines and late payment fees are nearly 377 million VND.
– Tips to help protect property during storm and flood season
In the face of unpredictable natural developments, being prepared and proactively protecting your property is essential not only to minimize damage but also to bring peace of mind to you and your family. Igloo, the region’s leading insurance technology company, provides 6 useful tips to help you minimize risks and damages during flood season:
1. Monitor the weather to update the situation
Always update information from the National Center for Hydrometeorological Forecasting or other official weather information channels. Understanding the developments of storms, heavy rains, and floods early will give you enough time to respond, relocate assets, and prepare safety measures for your family.
2. Reinforce houses and raise assets
Check and reinforce the roof, windows, and doors to ensure there are no leaks or water seepage inside. Make sure the drainage system works effectively to avoid water stagnation.
3. Protect valuable assets
For valuable assets such as electronics, furniture, and important documents, move them to higher floors or place them on shelves to avoid flooding. Use waterproof plastic or tarpaulin to cover waterproof items such as sofas, wooden tables and chairs, and electronic devices. This helps limit water damage.
4. Ensure the electrical system is safe: Turn off the main power source and disconnect electronic devices before flood waters rise. Cover sockets and electrical equipment with waterproof material to avoid the risk of electric shock.
5. Park in a high, safe place
Many vehicles have been damaged by flooding and fallen trees during recent storms. To protect cars and vehicles, look for elevated parking lots and avoid areas with large trees. This will help avoid unnecessary damage due to flooding or falling trees.
6. Buy property insurance
Property insurance is an effective measure to minimize economic losses caused by natural disasters, however, many people ignore its importance. They are willing to invest large amounts of money in valuable assets such as houses and cars, but they regret spending money on insurance to protect them. This is a concept that needs to change, because insurance is not simply an expense but is actually a financial protection solution. When you own property insurance, you will ensure the safety of your important assets against risks caused by natural disasters, storms and floods. In addition, insurance also helps you reduce your financial burden and recover quickly from unexpected losses.
Nowadays, buying property insurance is easier than ever. According to an Igloo representative, customers can buy insurance online through e-commerce platforms like Shopee or at convenience stores like Circle K. This is an effective financial solution, helping you build Build a “shield” to protect assets against unpredictable changes in weather.
– Yeah1 reported 10 times more profit than the same period
Advertising and media consulting activities continue to be Yeah1’s main business segment, bringing in 561 billion VND in revenue in the first 9 months of 2024, an increase of 3 times compared to the same period in 2023.
Accounting for the largest proportion in YEG’s asset structure is 1,133 billion VND of short-term receivables.
Yeah1 Group Joint Stock Company (HOSE: YEG) has just announced its consolidated financial report for the third quarter of 2024, recording net revenue of 345 billion VND, an increase of 209% compared to the performance of the third quarter of 2023. Gross profit has since increased sharply from VND 22 billion to VND 79 billion.
Deducting taxes and fees, Yeah1 reported a profit after tax of 34 billion VND, 10 times higher than the same period in 2023, and far surpassing the profit of 21 billion VND achieved in the first half of 2024.
Accumulated in the first 9 months of 2024, Yeah1’s consolidated revenue increased 149% over the same period to 629 billion VND. YEG’s revenue increased sharply mainly due to advertising and media consulting revenue increasing 3 times over the same period to 561 billion VND; while content copyright revenue and service provision and e-commerce revenue decreased by 11% and 15% to VND 40 billion and VND 29 billion, respectively.
As a result, Yeah1 reported a profit after tax of 56 billion VND, an increase of 353% compared to the performance of the first 3 months of 2023. Yeah1 made 2 business plans for 2024, with a favorable plan to record 105 billion VND in profit after tax. , while the average option is 65 billion VND. Thus, YEG has completed 53% of the favorable plans and 86% of the proposed average plans, respectively.