Market looks for some guiding lights

It follows news that 0.4 per cent would be added to the consumer price index following the recent petrol prices hike.

Trading volumes fell 14 per cent to 27.9 million shares on the Ho Chi Minh Stock Exchange (HoSE), with values reaching VND541.78 billion ($26.2 million). On the Hanoi Stock Exchange (HNX), just 24.6 million shares worth VND351.62 billion ($16.9 million) were traded.

Foreigners still kept buying volumes at around two million shares, focused on blue-chip stocks.

Investors, however, still have strong demand for shares at low price ranges, preventing the market from a sharp fall.

The HoSE’s VN-Index added 1.09 points, or 0.24 per cent, to 461.13 points. Also, the HNX slightly fell 0.01 points to 91.47 points.

Blue-chips were slightly off, with Bao Viet Holdings (BVH), Hoang Anh Gia Lai (HAG), Hoa Phat Group (HPG), Vietinbank (CTG) and Vinamilk (VNM) shed from VND200 to VND1,000 per share.

Vincom Corp. (VIC) ended flat while Saigon Securities Inc. (SSI) and Sacombank (STB) slightly higher. SSI and STB also outperformed the market with some 1.2 million shares traded each.

Vinpearl JSC (VPL) and Masan Group (MSN) strongly rose.

Overall, 114 stocks declined compared with 94 gained and 70 unchanged on the southern bourse, of which 11 hit the ceiling and 11 hit the floor.

On the northern bourse, VnDirect Securities (VND) and Kim Long Securities (BVS) were among the most active stocks with some 1.8 million shares changing hand each.

Thai Hoa Vietnam Group (TVH) and PetroVietnam Construction (PVX) outperformed the market as well.

Habubank (HBB) and Asia Commercial Bank (ACB) both climbed. Meanwhile, Vinaconex (VCG) and PetroVietnam Northern Gas (PVG) were off and PetroVietnam Southern Gas unchanged.