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Tag: monthly

  • Vietnam Gold Prices Leap Amid Global Gold Slump: Largest Monthly Drop in Nearly Two Decades

    Vietnam Gold Prices Leap Amid Global Gold Slump: Largest Monthly Drop in Nearly Two Decades

    On Tuesday morning, gold prices in Vietnam experienced an increase, despite global bullion rates experiencing their sharpest monthly fall in nearly two decades. The Saigon Jewelry Company reflected this trend with its gold bar prices ascending 0.63% to VND174.9 million (US$6,640.34) per tael. This price adjustment was echoed by other sellers in the local market.

    Despite a 6.47% decrease this month, local bullion rates have still gained an impressive 14.5% since the beginning of the year.

    The price of gold rings also experienced a similar surge, reaching a price of VND174.7 million per tael. It’s important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

    Global Bullion Trends

    On the global stage, gold prices experienced an increase on Tuesday. This rise was fueled by the optimism of a de-escalation in the Middle East conflict. However, gold is also facing its worst month in over 17 years due to increased energy prices. These circumstances have diminished hopes for a U.S. interest rate cut within this year.

    Spot gold saw an increase of 1.5%, reaching $4,578.89 per ounce. Similarly, U.S. gold futures for April delivery experienced a 1.2% rise, leveling at $4,611.30.

    Despite these positive changes, bullion has experienced a 13% decrease this month. This puts it on track for its most significant drop since October 2008, largely due to a stronger dollar and dwindling expectations of a U.S. interest rate cut within this year. Despite these challenges, prices remain up by approximately 5% for the quarter.

    The dollar experienced a drop, making commodities priced in the greenback more affordable for holders of other currencies.

    A notable factor influencing gold prices was an announcement from the U.S. President, Donald Trump, stating his willingness to end the U.S. military campaign against Iran. This news triggered a positive response from the financial markets and saw gold prices bounce in the early Asia-Pacific trade, according to Ilya Spivak, the head of global macro at Tastylive.

    Questions & Answers

    What sparked the increase in gold prices in Vietnam?
    The rise in gold prices in Vietnam was primarily due to optimism about a de-escalation in the Middle East conflict and an announcement from the U.S. President about his willingness to end the military campaign against Iran.

    What factors have contributed to the global drop in bullion rates this month?
    The steep drop in global bullion rates has been largely due to a stronger dollar and diminished expectations of a U.S. interest rate cut within this year.

    How has the dollar’s decrease impacted the commodities market?
    As the dollar has fallen, commodities priced in the greenback have become more affordable for holders of other currencies, which can stimulate demand.

  • US Dollar Dominates Vietnamese Dong, Marks Biggest Monthly Gain Since July

    US Dollar Dominates Vietnamese Dong, Marks Biggest Monthly Gain Since July

    On Tuesday morning, the U.S. dollar gained strength against the Vietnamese dong and is set to have its best month since July against significant international currencies. Vietcombank quoted the U.S. dollar at VND26,357, marking a 0.008% increase from its Monday valuation. Meanwhile, the black market saw a 0.28% decline in the currency’s value, bringing it to around VND27,112.

    Vietcombank’s USD/VND Exchange Rate Performance

    The Vietnamese State Bank responded to the U.S. dollar’s performance by increasing its reference rate by 0.008%, bringing it to VND25,102.

    On a global scale, the dollar is on track for its largest monthly gain since last July. This surge in value positions the dollar as the leading ‘safe asset’ in the current economic climate, characterized by escalating military conflict in the Mideast and consequent surges in oil prices, which have increased the risk of a worldwide recession.

    The U.S. dollar index reached its maximum since last May, hitting 100.61 and marking an increase of 2.9% throughout March; this rise is the most significant monthly increase since last July.

    Performance of Other Major Currencies

    Other significant currencies experienced fluctuating fortunes. The yen, for instance, which hit its lowest point since July 2024 the day before, was traded at 159.81 in Asia on Tuesday morning. This represents a monthly decline of approximately 2.4%, due in large part to Japan’s reliance on imported energy resources, the prices of which are soaring.

    The euro also experienced a downturn, slipping 0.3% overnight and is set for a monthly decline of around 3%. The Australian dollar hit a two-month low, coming in at $0.6834 overnight and was traded at $0.6844 in the Asian morning. The New Zealand dollar is also under strain, hitting a four-month low of 57 cents and last traded nearby at around $0.5716.

    The South Korean won fell to its weakest level since 2009. Against the Swiss franc, the U.S. dollar has risen nearly 4% this month, hitting 0.80 francs.

    Questions & Answers

    What was the U.S. dollar’s value against the Vietnamese dong on Tuesday morning?
    The U.S. dollar was valued at VND26,357 on Tuesday morning.

    What is the global performance of the U.S. dollar at present?
    The U.S. dollar is currently experiencing its largest monthly gain since last July, making it the strongest ‘safe asset’ in the current global economic climate.

    How have other significant currencies performed recently?
    The yen and the euro have seen monthly declines of 2.4% and 3% respectively. The Australian and New Zealand dollars have also experienced dips, while the South Korean won has fallen to its weakest level since 2009.

  • Hong Kong Retail Boom: December Sales Surge in 8th Consecutive Monthly Increase

    Hong Kong Retail Boom: December Sales Surge in 8th Consecutive Monthly Increase

    In December, retail sales in Hong Kong rose by 6.6% compared to the previous year, marking the eighth consecutive month of growth. This trend indicates a steady economic recovery in the region, according to recent government data.

    This increase amounted to a total of HK$35 billion (US$4.48 billion) in retail sales. In November, there was a similar rise in retail sales, with a 6.5% year-on-year increase.

    Retail Sales Volume

    In terms of volume, December’s retail sales saw a 5.1% increase from the previous year, showing a slight acceleration compared to the 4.4% rise witnessed in November.

    Looking forward, the value of total retail sales in 2025 is projected to rise by 1% from the previous year. Meanwhile, the volume is expected to remain at a similar level as compared to 2024.

    Consumer Sentiment and Tourism

    A government spokesperson highlighted the positive local consumption sentiment, backed by robust economic growth momentum. Coupled with the continued surge in inbound visitors, this is expected to support the retail businesses in the region.

    Tourist arrivals in December saw a significant upturn, with 4.65 million visitors, a 9.2% increase from the previous year, according to data from the Hong Kong Tourism Board.

    Mainland Chinese visitors made up the majority of these arrivals, accounting for 3.35 million. This represents an 8.2% increase year-on-year.

    Sales Across Various Retail Sectors

    In December, certain retail sectors saw remarkable growth. Sales of jewellery, watches, clocks, and valuable gifts surged by 14.3% year-on-year, a significant jump from the 3.6% rise in November.

    However, not all sectors experienced growth. The sales of clothing, footwear, and allied products fell by 10.3% year-on-year in December, despite a 2% increase in November.

    Questions & Answers

    What was the percentage increase in retail sales in Hong Kong in December?

    In December, retail sales in Hong Kong increased by 6.6% compared to the same period in the previous year.

    What is the projected increase in the value of total retail sales in 2025?

    The value of total retail sales in 2025 is projected to increase by 1% from the previous year.

    How did the sales of jewellery, watches, clocks, and valuable gifts perform in December?

    In December, sales of jewellery, watches, clocks, and valuable gifts surged by 14.3% year-on-year.

  • “Vietnamese E-commerce Boom: Monthly Online Spending Hits $1.3B on Top Platforms

    “Vietnamese E-commerce Boom: Monthly Online Spending Hits $1.3B on Top Platforms

    In the first three quarters of the year, consumers in Vietnam have shown a growing preference for e-commerce, spending approximately VND34 trillion (US$1.3 billion) per month on popular platforms such as Shopee, TikTok Shop, Lazada, and Tiki. According to analysis from data provider Metric, the gross merchandise value of these leading platforms reached a total of VND305.9 trillion, marking a substantial 34% increase from the previous year.

    Factors Fueling E-commerce Growth

    Several factors contribute to the impressive growth of these e-commerce platforms. A surge in demand, coupled with enticing incentives such as heavy discounts and low shipping fees, has led to increased consumer spending. Additionally, sellers are investing more in livestreaming and short-form video content to further stimulate buyer interest.

    Shopee has maintained its position as the dominant platform, accounting for 56% of the gross merchandise value for the aforementioned period. It is trailed by TikTok Shop, which holds 41% of the market share.

    Shopee’s collaboration with YouTube has also paid off, with 2.4 million products now linked to the video sharing platform. In another strategic move, Shopee recently teamed up with Meta to facilitate the purchase of its products via Facebook livestreams.

    Platform-Specific Strategies

    Meanwhile, TikTok has honed its focus on promoting sales through videos and livestreams. One particular campaign in the northern mountain province of Lai Chau was notably successful, with 300 tons of potatoes sold in the months of September and October.

    Lazada, holding a steady 3% market share, saw the strongest growth in average order value over the past nine months. The platform has been expanding its product range by partnering with several milk brands and South Korean retailer G-Market, adding an estimated 20 million new products to its offerings.

    Looking forward, Metric predicts the gross merchandise value for these four platforms will rise by 15% year-on-year in the fourth quarter. Fashion, beauty, household goods, and groceries-food are expected to continue leading in sales.

    Questions & Answers

    What factors are contributing to the growth of e-commerce in Vietnam?
    Increased demand, attractive discounts, low shipping fees, and more investment in livestreaming and short video content are driving e-commerce growth.

    Which e-commerce platform holds the largest market share in Vietnam?
    Shopee holds the largest market share, accounting for 56% of the gross merchandise value in the first three quarters of the year.

    Which categories are expected to lead in sales in the fourth quarter?
    Fashion, beauty, household goods, and groceries-food are forecast to maintain the lead in sales.

  • Taiwan’s Retail Sales Suffer Third Consecutive Month Of Decline Amidst Auto Sector Slump

    Taiwan’s Retail Sales Suffer Third Consecutive Month Of Decline Amidst Auto Sector Slump

    Retail activity in Taiwan took a hit in June, as sales dropped by 2.9% to approximately NT$390 billion or US$13.3 billion, marking the third consecutive month of decline.

    Industry Specific Declines

    The slump was consistent with the projected range of a 0.4% to 3.4% decrease in sales. The most significant dip was observed in the automotive sector, with car, motorcycle, and auto parts and accessories sales plummeting by 17.3% year on year. This industry-wide slowdown was exacerbated by customers holding off on purchases while awaiting the outcome of Taiwan’s tariff discussions with the United States.

    Meanwhile, the fabric and clothing industry also suffered, recording a 6.3% drop in sales. This decline was partly due to a reduction in the number of holidays in June. Similarly, department stores experienced a 3.6% drop in sales.

    Food and Beverage Sector

    The food and beverage industry, which had previously enjoyed three months of consecutive growth, reported a 2% decrease in sales. According to the Ministry of Economic Affairs, this decline was largely driven by a slump in restaurant sales.

    Overall Retail Landscape in Taiwan

    Cumulatively, the country’s retail sales slid by 1.6% for the second quarter and 0.4% for the first half of the year. Looking ahead, the Ministry of Economic Affairs predicts that retail sales growth in July could range from a 2% decline to a 1% increase.

    Questions & Answers

    What was the overall decline in Taiwan’s retail sales in June?
    Sales fell by 2.9% to approximately NT$390 billion or US$13.3 billion.

    Which sector experienced the most significant sales decline?
    The automotive sector, which includes cars, motorcycles and auto parts and accessories, experienced the most steep decline with a drop of 17.3%.

    What are the projected retail sales for July as per the Ministry of Economic Affairs?
    The Ministry expects the retail sales growth for July to range between a decrease of 2% and an increase of 1%.

  • Muji starting with a monthly subscription service with Idee

    Muji starting with a monthly subscription service with Idee

    Muji is to launch a subscription service for furniture and interior goods with its design brand Idee.

    The rental service will feature three basic sets – “sleep”, “learn/work,” and “relax” – starting from US$7.50 per month. The company also offers annual subscriptions for one to four-year plans.

    The Muji and Idee service offers a solution for furniture waste problems, following the brand’s new philosophy – “use rather than possession”.

    “Muji aims to solve various problems … occurring in society by paying close attention to the earth and the times, and by preparing our lives through products and services that are the basis of our lives,” the company said in a statement.

    Muji also offers two renovation plans for compact home offices across 23 wards of Tokyo. In addition, customers can receive free online home consultations from 115 interior advisors at 45 Muji stores across the country.

    Furniture subscription services are not a new concept but are beginning to gain momentum in large cities with small apartments. Ikea launched a similar service in some European countries saying last year it planned a roll out in 30 markets this year.

    The Muji subscription service will start from July 17 at selected stores in Japan including Muji Ginza and Muji Grand Front Osaka.