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Inflation news boosts shares

Update: June, 21/2012 - 10:17

 

Investors monitor share price changes at the Ha Noi Stock Exchange. Shares increased yesterday on both national stock exchanges thanks to low CPI news in Ha Noi and HCM City. — VNA/VNS Photo Pham Hau
HA NOI — Positive economic news released yesterday morning helped lift shares on both of the nation's stock exchanges, but trading remained sluggish.

The city of Ha Noi announced that consumer prices actually declined in June by 0.17 per cent, even as credit grew in the capital city by 2.1 per cent during the period. Economic growth in the first half the year also reached 7.6 per cent.

On the HCM City Stock Exchange, the HNX-Index gained another 0.42 per cent to close yesterday's session at 432.89 points, driven by blue chip gains. But the value of trades was only about half Tuesday's level, reaching a mere VND615.5 billion (US$29.3 million) on a volume of 34 million shares.

The VN30 Index, which measures the performance of the top 30 shares by market capitalisation and liquidity, climbed 0.31 per cent to stand at 508.23. Amongst the 30 leading shares, Vietcombank (VCB), insurer Bao Viet Holdings (BVH), software giant (FPT) and property developer VinGroup (VIC) all posted modest gains.

Sacombank (STB) saw over 2.5 million shares change hands, making it the most-active share on the HCM City bourse. STB rose by 1.3 per cent to close at VND22,800 per share.

The VN-Index has fluctuated narrowly around the 430-point level over the past week and the market would need time and fresh capital inflows to absorb the April gains in share prices, analysts commented.

On the Ha Noi Stock Exchange, the HNX-Index also rose by 0.38 per cent to close at 74.36 points, but value shriveled to just VND261.4 billion ($12.4 million). Advancers outnumbered decliners on the northern bourse by 134-69, with 195 codes remaining unchanged.

PetroVietnam Construction (PVX) continued to be the most-active share in Ha Noi with nearly 2.7 million traded. It closed up by nearly a per cent yesterday to VND10,400 per share.

Foreign investors remained net buyers in Ha Noi with a margin of over VND2 billion ($100,000) worth of shares but were net sellers in HCM City, unloading shares worth a net of VND8 billion ($380,000). — VNS

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