Shares lost ground on the HCM Stock Exchange despite earlier gains onApril 23, while positive economic data helped lift stocks on the Hanoibourse.
Inflation in April inched up by only0.05 percent over March, the slowest rate since March of 2009, theGeneral Statistics Office announced on April 23.
"However, April 20's 4.1 percent increase in petrol prices and risinghealthcare costs have given cause for serious concern about next month'sinflation rate," wrote Kim Eng Securities Co analysts.
The Ministry of Industry and Trade also announced on April 23 that thetrade deficit this month is estimated at 400 million USD, marking itslowest point as a percentage of export turnover in a decade.
Information also reached investors on April 23 that the StateSecurities Commission is preparing measures to boost stock marketliquidity beginning June, including an extension in afternoon tradinghours to 3pm. A transaction-plus-three-days (T+3) settlement period wasalso being considered, it was revealed.
On the HCMStock Exchange, the VN-Index closed the day at 465.17 points, a 0.12percent decline from April 20. The value of trades reached just 1trillion VND (47.6 million USD) on a volume of 66.4 million shares.
The VN30 Index decreased slightly to 533.60 points, as such majorshares tumbled as insurer Bao Viet Holdings (BVH), Vietinbank (CTG),food processor Masan Group (MSN), Vietcombank (VCB), Sacombank (STB) andsoftware giant FPT.
Meanwhile, some other bluechips were able to post gains, including real estate developers HoangAnh Gia Lai (HAG), Vincom (VIC) and Becamex Infrastructure (IJC), andfinancial conglomerate Ocean Group (OGC), as well as food processor HungVuong (HVG) which hit its ceiling price.
On theHanoi Stock Exchange, the HNX-Index edged up by 0.08 percent to 77.81points. Losers edged gainers by a margin of 127-122. But the value oftrades dropped 30.3 percent from the previous trading session’s level tojust 611.1 billion VND (29 million USD) as volume reached only 55.9million shares.
While the market was still sinkinginto some corrections, Kim Eng analyst Dang Thi Kim Thoa suggestedinvestors hold onto shares of vegetable oil producer Trang An (TAC). Inthe last two months, TAC has increased 60 percent higher than theVN-Index overall following acquisition rumours involving Masan Group..
"This factor plus the good valuation of the stock are the fundamentals for our recommendation," Thoa said.-VNA
Inflation in April inched up by only0.05 percent over March, the slowest rate since March of 2009, theGeneral Statistics Office announced on April 23.
"However, April 20's 4.1 percent increase in petrol prices and risinghealthcare costs have given cause for serious concern about next month'sinflation rate," wrote Kim Eng Securities Co analysts.
The Ministry of Industry and Trade also announced on April 23 that thetrade deficit this month is estimated at 400 million USD, marking itslowest point as a percentage of export turnover in a decade.
Information also reached investors on April 23 that the StateSecurities Commission is preparing measures to boost stock marketliquidity beginning June, including an extension in afternoon tradinghours to 3pm. A transaction-plus-three-days (T+3) settlement period wasalso being considered, it was revealed.
On the HCMStock Exchange, the VN-Index closed the day at 465.17 points, a 0.12percent decline from April 20. The value of trades reached just 1trillion VND (47.6 million USD) on a volume of 66.4 million shares.
The VN30 Index decreased slightly to 533.60 points, as such majorshares tumbled as insurer Bao Viet Holdings (BVH), Vietinbank (CTG),food processor Masan Group (MSN), Vietcombank (VCB), Sacombank (STB) andsoftware giant FPT.
Meanwhile, some other bluechips were able to post gains, including real estate developers HoangAnh Gia Lai (HAG), Vincom (VIC) and Becamex Infrastructure (IJC), andfinancial conglomerate Ocean Group (OGC), as well as food processor HungVuong (HVG) which hit its ceiling price.
On theHanoi Stock Exchange, the HNX-Index edged up by 0.08 percent to 77.81points. Losers edged gainers by a margin of 127-122. But the value oftrades dropped 30.3 percent from the previous trading session’s level tojust 611.1 billion VND (29 million USD) as volume reached only 55.9million shares.
While the market was still sinkinginto some corrections, Kim Eng analyst Dang Thi Kim Thoa suggestedinvestors hold onto shares of vegetable oil producer Trang An (TAC). Inthe last two months, TAC has increased 60 percent higher than theVN-Index overall following acquisition rumours involving Masan Group..
"This factor plus the good valuation of the stock are the fundamentals for our recommendation," Thoa said.-VNA
