HONG KONG — Oil prices fell further in Asian trade Wednesday, tracking losses across equities and currency markets as fresh fears about the impact of Britain’s exit from the EU sent investors fleeing high-risk assets. A warning from the Bank of England that there was evidence risks from the June 23 Brexit vote "have begun to crystallise" sent shudders through world markets, with the pound diving to levels not seen since mid-1985 and stock markets diving. The uncertainty unleashed by Europe’s second biggest economy leaving the European Union battered the oil market this week, with Brent diving 4.3 percent and West Texas Intermediate shedding 4.9 percent on Tuesday. On Wednesday the contracts extended the losses. At 0330 GMT Brent was down 30 cents, or 0.63 percent, at $47.66, while WTI eased 33 cents, or 0.71 percent, to $46.27. The two are well down from the levels above $52 touched at the start of last month. "Uncertainties and concerns over how Brexit will … [Read more...] about Oil losses mount as world markets hit by Brexit woe
World markets news
Brexit vote, UK political confusion rattles world markets for second day
LONDON, June 27 - Britain's vote last Thursday to leave the European Union continued to reverberate through financial markets on Monday, with the pound falling to its lowest level in 31 years, despite government attempts to relieve some of the confusion about the political and economic outlook. LONDON, June 27 - Britain's vote last Thursday to leave the European Union continued to reverberate through financial markets on Monday, with the pound falling to its lowest level in 31 years, despite government attempts to relieve some of the confusion about the political and economic outlook. UK finance minister George Osborne said early Monday that the British economy was strong enough to cope with the market volatility caused by last week's "Brexit" referendum which has resulted in the biggest blow since World War Two to the European goal of forging greater unity. "Our economy is about as strong as it could be to confront the challenge our country now faces," Osborne told reporters. "It … [Read more...] about Brexit vote, UK political confusion rattles world markets for second day
Vietnamese brands struggle to conquer world market
VietNamNet Bridge - Many free trade agreements (FTAs) and comprehensive partnership agreements have taken effect in the country. However, Vietnamese products bearing Vietnamese brands still find it difficult to conquer the world market. The Vietnam-South Korea FTA took effect last December and it was hoped to bring great opportunities to Vietnamese businesses to boost exports to South Korea. Vietnam also puts high hopes on TPP, which, once taking effect, would help Vietnamese products penetrate large markets such as Japan, the US, Canada and Australia. However, analysts commented that even with FTAs, Vietnamese businesses would still have to struggle to bring their products to the world market. Regarding Vietnam-South Korea trade, the two-way trade turnover is somewhat inclined to South Korea.Vietnam puts high hopes on TPP, which, once taking effect, would help Vietnamese products penetrate large markets such as Japan, the US, Canada and Australia. South Korean products have been … [Read more...] about Vietnamese brands struggle to conquer world market
Vietnamese look forward to news from world market
VietNamNet Bridge - Any happening in the world, from war, gold price fluctuations to politicians’ speeches can have an immediate impact on the Vietnamese market. The US dollar price in the open market, for example, depends on the gold price performance in the world market. The unwritten laws have existed for decades. The dollar price increases once the gold price decreases in the world market, and vice versa.Early in the morning of April 14, when the world gold price was at $1,204-1,205 per ounce, domestic gold shops quoted dollar prices at VND21,640-21,650 per dollar. At 3 pm on the same day, when the gold price dropped to $1,190 per ounce, the dollar price in Vietnam soared to VND21,650-21,670 per dollar. The dollar seller will say "because the dollar price depends on the gold price" if he is asked why the dollar price increased so rapidly. In Hanoi and HCM City, laptops, desktops and large screens are available at every gold shop for shop owners and visitors to check the … [Read more...] about Vietnamese look forward to news from world market
Gold price hits new record high as world markets jitter
Gold price hits new record high as world markets jitter By Trieu Thuong Linh - The Saigon Times Daily HCMC – People rushed to buy gold but companies refrained from trading as the local price broke a new record of VND48.6 million per tael on Monday over jittery global markets. After approaching VND48 million per tael in the morning, the price of the yellow metal advanced further in the afternoon to hit a new high of VND48.2 million for buying and VND48.6 million for selling, up by VND1.45 million against last weekend at Saigon Jewelry Holding Co. (SJC). A tael is equivalent to 1.2 troy ounces. Meanwhile, Sacombank Jewelry Company (SBJ) changed its price quotations 15 times, hovering around VND48.11 million for buying and VND48.49 million for selling respectively. According to the company’s sales department, many people rushed to buy gold at a higher price. Nguyen Ngoc Que Chi, general director of SBJ, said sale volume reached 5,000 taels and buying below 700 taels. Gold … [Read more...] about Gold price hits new record high as world markets jitter