Shares rallied this morning on the HCM Stock Exchange after falling overthree consecutive days, but both market volume and value remainedsluggish on pessimistic investor sentiment.
The slowincrease in the inflation rate in October in Hanoi and HCM Citysupported the psychology of sellers to a certain degree but buyersseemed inert with such information, thus they had hesitated to spend,driving down the market volume, said stock analyst with financialwebsite vietstock Nguyen Viet Vinh.
“They can’t find any reason to buy while the market outlook is not bright in the shorterm,” Vinh wrote in Oct. 20’s report.
The VN-Index closed at 403.73 points, a rise of 0.64 percent over onOct. 19, thanks to recovery of several blue chips. Food processor MasanGroup (MSN) hit its ceiling price while dairy producer Vinamilk (VNM),Vietinbank (CTG) and Phu My Fertiliser (DPM) all gained less than 1percent.
Gainers edged losers by 109-90.
Trading volume decreased 23 percent to just 18.6 million shares, butvalue of Oct. 20's trades rose nearly 5 percent to 413.5 billion VND(19.7 million USD).
No codes saw trade in excess of 1million shares. Becamex Infrastructure Development (IJC), with nearly750,000 shares changing hands, became the most active code on the HCMCity bourse today, but it declined another 2.1 percent to close at 9,400VND (0.45 USD).
Meanwhile, shares retreated on the HanoiStock Exchange on Oct. 20 after a slight rise on Oct. 19, with theHNX-Index losing 0.31 percent over onto close at 67.72 points.
Both market volume and value fell 25 percent, totalling just 19 million shares, worth 193.6 billion VND (9.2 million USD).
Decliners inched up advancers by 116-107, with Kim Long Securities Co(KLS) remaining the most heavily traded stock nationwide with 1.86million shares changing hands./.
The slowincrease in the inflation rate in October in Hanoi and HCM Citysupported the psychology of sellers to a certain degree but buyersseemed inert with such information, thus they had hesitated to spend,driving down the market volume, said stock analyst with financialwebsite vietstock Nguyen Viet Vinh.
“They can’t find any reason to buy while the market outlook is not bright in the shorterm,” Vinh wrote in Oct. 20’s report.
The VN-Index closed at 403.73 points, a rise of 0.64 percent over onOct. 19, thanks to recovery of several blue chips. Food processor MasanGroup (MSN) hit its ceiling price while dairy producer Vinamilk (VNM),Vietinbank (CTG) and Phu My Fertiliser (DPM) all gained less than 1percent.
Gainers edged losers by 109-90.
Trading volume decreased 23 percent to just 18.6 million shares, butvalue of Oct. 20's trades rose nearly 5 percent to 413.5 billion VND(19.7 million USD).
No codes saw trade in excess of 1million shares. Becamex Infrastructure Development (IJC), with nearly750,000 shares changing hands, became the most active code on the HCMCity bourse today, but it declined another 2.1 percent to close at 9,400VND (0.45 USD).
Meanwhile, shares retreated on the HanoiStock Exchange on Oct. 20 after a slight rise on Oct. 19, with theHNX-Index losing 0.31 percent over onto close at 67.72 points.
Both market volume and value fell 25 percent, totalling just 19 million shares, worth 193.6 billion VND (9.2 million USD).
Decliners inched up advancers by 116-107, with Kim Long Securities Co(KLS) remaining the most heavily traded stock nationwide with 1.86million shares changing hands./.
