Hanoi shares rally on CPI hopes
Shares continued to tumble on Sept. 21 on the HCM Stock Exchange,
weighed down by stumbling blue chips, but stocks on the Hanoi
bourses rallied as investors made bargain buys in a bet on easing
inflation in September.
Shares continued to tumble on Sept. 21 on the HCM Stock Exchange,
weighed down by stumbling blue chips, but stocks on the Hanoi
bourses rallied as investors made bargain buys in a bet on easing
inflation in September.
Low monthly rise in September inflation in Hanoi continued to support the likelihood of stable inflation towards the end of the year, thus supporting the central bank's goal of reducing interest rates, BIDV Securities Co's stock analysts wrote in a report.
"However, CPI (consumer price index) is a link of the problem chain in the medium term, and though the monthly CPI increase has extrapolative impacts on the future, it does not provide certainty. Every assumption implies expectations," they wrote.
On the HCM Stock Exchange, the VN-Index lost another 1.5 percent to close on Sept. 21's session at 447.57 points. Value of the day's trades declined nearly 8 percent over the previous day to nearly 819 billion VND (39.4 million USD), on a total volume of nearly 44 million shares.
Insurer Bao Viet Holdings (BVH) and food producer Masan Group (MSN) continued to fall to the floor price , while steelmaker Hoa Phat Group (HPG) and property developers Vincom (VIC) and Hoang Anh Gia Lai (HAG) all dropped by nearly 2 percent on Sept. 21.
Some, which included software producer FPT (FPT), Eximbank (EIB), dairy producer Vinamilk (VNM), rose slightly, helping cushion the Index fall.
However, decliners overwhelmed advancers by 134-81 overall.
Becamex Infrastructure Development (IJC) and SACOM Development and Investment (SAM) were the two most active stocks on Sept. 21, each with over 2.2 million shares traded. Both hit their ceiling price.
On the Hanoi Stock Exchange, the HNX-Index gained 0.3 percent, finishing at 74.6 points.
The market value declined slightly to nearly 475 billion VND (22.8 million USD) as 43 million shares changed hands.
Kim Long Securities Co (KLS) on Sept. 21 was again the most heavily traded stock nationwide with 4.43 million shares exchanged, closing unchanged at 12,400 VND (0.60 USD) a share.
Foreign investors became net sellers on both exchanges, picking up a combined 6.8 billion VND (327,000 USD) worth of shares./.
Low monthly rise in September inflation in Hanoi continued to support the likelihood of stable inflation towards the end of the year, thus supporting the central bank's goal of reducing interest rates, BIDV Securities Co's stock analysts wrote in a report.
"However, CPI (consumer price index) is a link of the problem chain in the medium term, and though the monthly CPI increase has extrapolative impacts on the future, it does not provide certainty. Every assumption implies expectations," they wrote.
On the HCM Stock Exchange, the VN-Index lost another 1.5 percent to close on Sept. 21's session at 447.57 points. Value of the day's trades declined nearly 8 percent over the previous day to nearly 819 billion VND (39.4 million USD), on a total volume of nearly 44 million shares.
Insurer Bao Viet Holdings (BVH) and food producer Masan Group (MSN) continued to fall to the floor price , while steelmaker Hoa Phat Group (HPG) and property developers Vincom (VIC) and Hoang Anh Gia Lai (HAG) all dropped by nearly 2 percent on Sept. 21.
Some, which included software producer FPT (FPT), Eximbank (EIB), dairy producer Vinamilk (VNM), rose slightly, helping cushion the Index fall.
However, decliners overwhelmed advancers by 134-81 overall.
Becamex Infrastructure Development (IJC) and SACOM Development and Investment (SAM) were the two most active stocks on Sept. 21, each with over 2.2 million shares traded. Both hit their ceiling price.
On the Hanoi Stock Exchange, the HNX-Index gained 0.3 percent, finishing at 74.6 points.
The market value declined slightly to nearly 475 billion VND (22.8 million USD) as 43 million shares changed hands.
Kim Long Securities Co (KLS) on Sept. 21 was again the most heavily traded stock nationwide with 4.43 million shares exchanged, closing unchanged at 12,400 VND (0.60 USD) a share.
Foreign investors became net sellers on both exchanges, picking up a combined 6.8 billion VND (327,000 USD) worth of shares./.
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