Shares slide on expected CPI rise
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.
On the HCM City Exchange, the VN-Index slid 0.18 per cent to reach 493.62 points.
Both value and volume and shares traded strongly declined on the southern city's bourse yesterday. Around 38.39 million shares changed hands with a total value of VND661.87 billion (US$31.51 million), only equivalent to 58 per cent and 66 per cent of last week's average figures.
The VN30-Index, tracking the southern city's top shares in term of capitalisation and liquidity, fell 0.12 per cent to 551.48 points. Twenty-one codes lost value while only four gained.
PetroVietnam Low Pressure Gas Joint Stock Company (PGD) lost 3 per cent to VND30,000 ($1.43) per share and Hoa Sen Group (HSG) was 1.5 per cent lower at VND38,900 ($1.85) per share.
However, PetroVietnam Drilling (PVD) added VND1,500 ($0.07) to reach VND68,000 ($3.23) per share.
On the Ha Noi Stock Exchange, the HNX-Index dropped 0.22 per cent to 60.5 points with a dismal trading value of VND160.8 billion on an exchange of more than 18.8 million shares.
The HNX30-Index, composed of the capital city's largest shares, slid 0.58 per cent to 111.82 points.
Foreign investors continued to be the net buyers with a value of VND29.2 billion ($1.39 million) with focus on Vietcombank (VCB), Vietinbank (CTG) and Licogi 16 (LCG) and Hoa Phat Group (HPG).
The Domestic Market Regulation Department under the Ministry of Industry and Trade said that the nation's CPI this month would likely increase slightly by 0.5-0.6 per cent against September, putting pressure on shares yesterday.
FPT Securities said that both the benchmark indices were expected to continue to slightly decrease today.
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