CPI expectations lift market

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) advanced 2.22 points or 0.5 per cent to 440.29 points.

Market sentiment turned positive from the end of the morning, with monthly consumer price index (CPI) growth of Ho Chi Minh City announced at 0.12 per cent. Hanoi’s CPI also saw just a slight advance of 0.19 per cent, while the figure from southern Long An province shed up to 1.7 per cent against February.

Investors reduced their selling. Cash started to strongly flow into speculative stocks.

Mineral stocks Nari Hamico Minerals (KSS) jumped 3.66 per cent, while Bac Giang Exploitable Mineral (BGM) and Binh Thuan Hamico Mineral (KSA) sharply rose 4.11 per cent and 4.35 per cent, respectively.

Financial stocks Saigon Securities Inc. (SSI) gained 3.08 per cent. PetroVietnam Finance (PVF) rallied at the session’s end to hit the ceiling. Banking shares Vietcombank (VCB) and Vietinbank (CTG) strongly advanced, while Military Bank (MBB) and Eximbank (EIB) turned positive.

Real estate speculative stocks largely bounced back. Ocean Group (OGC) jumped 4.39 per cent, Becamex Infrastructure Development (IJC) 4.55 per cent, Hoang Anh Gia Lai (HAG) 3.56 per cent, while Tan Tao Investment Industry Corp. (ITA), Investment and Trading Of Real Estate (ITC), Tu Liem Urban Development (NTL) significantly advanced.

Meanwhile, pillar stocks Bao Viet Holdings (BVH) and Masan Group (MSN) continued slipping due to an absence of foreigners’ buying power.

Speculative cash flows were exciting on the Hanoi Stock Exchange (HNX), boosting the benchmark HNX-Index up 1.49 points or 2.04 per cent to end at 74.39 points.

Securities company shares led the gainers. Several stocks in this sector hit the ceiling, including Bao Viet Securities (BVS), VNDirect Securities (VND), Wall Street Securities (WSS). Vietinbank Securities (CTS), Saigon-Hanoi Securities (SHS), Kim Long Securities (KLS), Au Viet Securities (AVS) and Asia-Pacific Securities sharply jumped.

Liquidity significantly improved. HoSE saw 62.8 million shares worth VND992.5 billion ($47.9 million) changed hands. Total volume strongly advanced on HNX, reaching 78.3 million shares worth VND797.1 billion ($38.5 million).