The HCM Stock Exchange on February 24 saw increased trading, but the VN-Indexnevertheless slid by another 0.34 percent to a close of 494.59 points, with over60 percent of codes losing value over the course of the session. Meanwhile,shares rebounded on the Hanoi market.
The value of the day’s trades roseby 10 percent to reach 1.2 trillion VND (63 million USD) while overall tradingvolume increased to nearly 26.4 million shares.
The risk of inflationreigniting in March continued to colour investor sentiment on February 24.
Vu Dinh Anh, deputy head of the Market and Price Research Institute,said the recent depreciation of the Vietnamese dong and this week’s announcementof proposed higher petrol prices and electricity rates, the latter effectiveMarch 1, would hinder the Government’s effort to keep inflation this year atwithin 7 percent.
“CPI in March is important and sensitive, as it tendsto determine the overall inflation rate for the year,” Anh said. If one-monthinflation in March hit 0.5-1 percent, the year’s inflation rate was likely toreach double-digit levels, he said.
The market could see some adjustmentin official monetary policy in an effort to curb inflation, said VincomSecurities Co analysts in a market forecast.
Although still wary andcautious, investors also become calmer on Feb. 24 after the Feb. 23 heavilysagging session and raised their buys, cushioning the fall of the VN-Index onFeb. 24, wrote FPT Securities Co analysts in a daily report.
“Sharesupply still outweighed demand,” it wrote. “However, share purchases increasedconsiderably up to the closing bell of the session, concentrating on blue chipssuch as Saigon Securities Inc (SSI), Sacombank (STB) and Vietcombank (VCB).”
On the Hanoi Stock Exchange, meanwhile, the HNX-Index rebounded by 0.75percent to close at 162.77. Trading value rose by nearly 14 percent over Feb.23’s level, totalling 374.6 billion VND (19.7 million USD) on a volume of 11.7million shares.
Over 55 percent of codes on the northern bourse postedgains, while Kim Long Securities Co (KLS) led trading with a volume of 2.55million shares.
Foreign investors were net sellers on both bourses onFeb. 24, unloading a net of just under 4.8 billion VND (252,631 USD)./.
The value of the day’s trades roseby 10 percent to reach 1.2 trillion VND (63 million USD) while overall tradingvolume increased to nearly 26.4 million shares.
The risk of inflationreigniting in March continued to colour investor sentiment on February 24.
Vu Dinh Anh, deputy head of the Market and Price Research Institute,said the recent depreciation of the Vietnamese dong and this week’s announcementof proposed higher petrol prices and electricity rates, the latter effectiveMarch 1, would hinder the Government’s effort to keep inflation this year atwithin 7 percent.
“CPI in March is important and sensitive, as it tendsto determine the overall inflation rate for the year,” Anh said. If one-monthinflation in March hit 0.5-1 percent, the year’s inflation rate was likely toreach double-digit levels, he said.
The market could see some adjustmentin official monetary policy in an effort to curb inflation, said VincomSecurities Co analysts in a market forecast.
Although still wary andcautious, investors also become calmer on Feb. 24 after the Feb. 23 heavilysagging session and raised their buys, cushioning the fall of the VN-Index onFeb. 24, wrote FPT Securities Co analysts in a daily report.
“Sharesupply still outweighed demand,” it wrote. “However, share purchases increasedconsiderably up to the closing bell of the session, concentrating on blue chipssuch as Saigon Securities Inc (SSI), Sacombank (STB) and Vietcombank (VCB).”
On the Hanoi Stock Exchange, meanwhile, the HNX-Index rebounded by 0.75percent to close at 162.77. Trading value rose by nearly 14 percent over Feb.23’s level, totalling 374.6 billion VND (19.7 million USD) on a volume of 11.7million shares.
Over 55 percent of codes on the northern bourse postedgains, while Kim Long Securities Co (KLS) led trading with a volume of 2.55million shares.
Foreign investors were net sellers on both bourses onFeb. 24, unloading a net of just under 4.8 billion VND (252,631 USD)./.
