Market sinks to new low on CPI stats

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Hanoi’s consumer price index (CPI) growth for April was 3.28 per cent, far higher than previous forecasts of 1.6 per cent to 1.8 per cent. Ho Chi Minh City posted 3.16 per cent.

The nation’s CPI growth for first four months has jumped to more than 9 per cent, while the government had targeted reining in inflation to single digits.

Trading value dropped further from yesterday’s two-year record low on the Ho Chi Minh Stock Exchange (HoSE), down to VND453 billion ($21.88 million). Volume was 21 million units.

Eximbank (EIB) was the most active with just 770,000 shares changing hands. (not hand !!) Numerous major stocks saw just 200,000 to 300,000 units traded.

Foreigners’ buying volumes was modest at some 3.46 million shares.

The foreigners significantly buoyed local blue-chips, which slightly raised the market today. The VN-Index climbed 4.76 points, or 1.05 per cent, to end at 458.5 points.

Bao Viet Holding (BVH) and PetroVietnam Finance (PVF) were helped to hit the ceiling. Vietcombank (VCB) gained as well.

Also, Vincom Corp. (VIC), Vinamilk (VNM) and Masan Group (MSN) were among advancers pushing up the market.

Meanwhile, Itaco (ITA), Sacombank (STB) and FPT Corp. (FPT) gave back declined.

Overall, 86 stocks climbed, 120 were off and 80 unchanged.

Liquidity declined on the Hanoi Stock Exchange (HNX), with just 21 million shares worth VND276 billion ($13.33 million) changing hands. Some 167 stocks fell, 100 rose and 112 ended flat.

The benchmark HNX-Index lost 0.16 points or 0.19 per cent to end at 86 points.

A number of major stocks, however, still advanced, among them Kim Long Securities (KLS), VnDirect Securities (VND) and Saigon-Hanoi Bank (SHB).