Saturday, November 16 2019


Lower CPI boosts shares as exchanges reverse declines

Update: October, 23/2014 - 09:45
Trading value reached nearly VND1.9 trillion (US$89.6 million) on volume of 101.8 million shares. — Photo
HA NOI  (VNS) — After sliding in the morning, the VN-Index on the HCM City Stock Exchange reversed course to add 0.17 per cent, closing at 601.59 points.

Trading value reached nearly VND1.9 trillion (US$89.6 million) on volume of 101.8 million shares.

The VN30 Index, composed of the bourse's 30 leading stocks in terms of capitalisation and liquidity, rose 0.64 per cent to close the session at 637.85 points. Only four blue chips retreated, while 18 others ended in the green.

On the Ha Noi Stock Exchange, the HNX-Index successfully ended its losing streak, increasing 1.73 per cent to 88.50 points. Turnover reached VND859 billion ($40.5 million) as the volume of transactions reached around 65.4 million shares. The HNX30 Index, representing the performance of Ha Noi's 30 largest stocks, climbed 2.26 per cent to 177.27 points.

KLF Investment (KLF) was the most active stock, with over 11 million shares exchanged, closing the session up 3.5 per cent.

The market was supported by a decline in the consumer price index (CPI) in October. CPI in HCM City fell 0.03 per cent compared to September, bringing the total increase in the first 10 months to 2.38 per cent. In the previous four years, CPI rose in October.

Global market swings were currently negatively affecting the domestic market, according to Maybank KimEng Securities Co's head of investment strategy Phan Dung Khanh.

"While short-term investors may be affected, it's an opportunity for medium- and long-term investors to grab good stocks," he said. "The trend of October is cumulation, levelling off and slightly increasing by the end of the month, preparing for a rebound in November."

Khanh also advocated shares of logistics, securities, mineral companies and financial investment stocks such as FIT Investment (FIT),

Tri Viet (TVC) and CEO Group (CEO). Foreign investors concluded yesterday as net buyers by VND55.9 billion ($2.6 million), ending their seven-day period of selling. — VNS

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