Shares slide on expected CPI rise

Shares, despite slight increases in the morning, finished the day lower on both national bourses, following forecasts about the slight rise of the consumer price index (CPI) this month.
Shares, despite slight increases in the morning, finished the day loweron both national bourses, following forecasts about the slight rise ofthe consumer price index (CPI) this month.

On the Ho Chi Minh City Exchange, the VN-Index slid 0.18 percent to reach 493.62 points.

Both value and volume and shares traded strongly declined on the southern city's bourse on October 14.

Around 38.39 million shares changed hands with a total value of 661.87billion VND (31.51 million USD), only equivalent to 58 percent and 66percent of last week's average figures.

TheVN30-Index, tracking the southern city's top shares in term ofcapitalisation and liquidity, fell 0.12 percent to 551.48 points.Twenty-one codes lost value while only four gained.

PetroVietnam Low Pressure Gas Joint Stock Company (PGD) lost 3 percentto 30,000 VND (1.43 USD) per share and Hoa Sen Group (HSG) was 1.5percent lower at 38,900 VND (1.85 USD) per share.

However, PetroVietnam Drilling (PVD) added 1,500 VND (0.07 USD) to reach 68,000 VND (3.23 USD) per share.

On the Hanoi Stock Exchange, the HNX-Index dropped 0.22 per cent to60.5 points with a dismal trading value of 160.8 billion VND on anexchange of more than 18.8 million shares.

The HNX30-Index, composed of the capital city's largest shares, slid 0.58 percent to 111.82 points.

Foreign investors continued to be the net buyers with a value of 29.2billion VND (1.39 million USD) with focus on Vietcombank (VCB),Vietinbank (CTG) and Licogi 16 (LCG) and Hoa Phat Group (HPG).

The Domestic Market Regulation Department under the Ministry ofIndustry and Trade said that the nation's CPI this month would likelyincrease slightly by 0.5-0.6 percent against September, putting pressureon shares on October 14.

FPT Securities said that both the benchmark indices were expected to continue to slightly decrease on October 15.-VNA

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