Vietnamese stocks continued to close down today as local investors cut stock holding on concerns over hiking inflation in the rest months of the year.
The benchmark VN Index lost 1.06 points or 0.23% to 449.71. Volume plunged to 34.9 million shares traded for VND888.44 billion compared with 52.2 million shares traded for VND1.43 trillion on Thursday.
The drop in volume indicated that both buyers and sellers were cautious on the last trading session of the week.
This week, VN Index lost 7.87 points or 1.72% with an average daily trading volume of 46.7 million shares.
The Government Statistic Office announced late this morning that Vietnam September CPI rose 1.31%, the highest level in 6 months this year and highest September CPI in 15 years, driven by a combined force of three factors: demand pull, imported inflation, and policy changes, raising concerns over continued steaming inflation in the coming months.
This September CPI was two times as high as common expectation of 0.7% and still higher than the highest expectation of 1.25% by NHDMoney few days ago.
In an alternative investment option, local gold prices continued to climb to fresh new highs as world gold prices are moving towards all-time-high level of $1,300 an ounce. It is expected that gold profit takers would soon switch their funds to fairly attractive equities.
The market opened in the red with caution in place weighed by global markets’ losses last night, trading volume continued to fall to 0.78 million shares. The market went on slowly with some efforts to recover and protect 450. The market moved in and out of the positive ground for several times before settling down at the close. Though the market was off the low, the sentiment was weak.
Market breath was positive where gainers outpaced losers by 104 to 90 and 69 unchanged stocks. As many as 6 stocks hit the upper daily limits of 5% while 7 others fell to the floor of -5%.
OGC was the most active stock with 2.55 million shares traded, closing lower at VND33, 400, down 2.34%.
ITA ranked second in the list with 2.27 million shares traded, sliding 1.66% to VND24,100.
STB was in the third place with 1.40 million shares traded, stayed unchanged at VND16,000.
DRH and DTL followed with 1.39 million shares and 1.21 million shares traded, respectively.
Today foreign players switched to net sell of VND20.85 billion of Vietnamese shares today after net buying for the 16 straight days. They purchased 1,537,430 shares for VND65.53 billion and sold 3,449,160 shares for VND86.38 billion accounting for 7.38% buying value and 9.72% selling value.
On the Hanoi Stock Exchange, the HNX extended losses for the fourth day as investors were cautious to buy shares. The index level still failed to test 130 threshold. The HNX lost 0.20 points or 0.15% to 129.63.
Today volume and value fell to 27.07 million shares traded for VND641 million compared with 36.71 million shares traded for VND879 million on September 23.
The market recorded 167 gainers, 102 losers and 69 unchanged stocks including 14 ceiling gainers and 11 floor losers. On this bourse, daily trading limit is capped at 7% each side.
PVX was the most active stocks on the bourse with 2.93 million shares traded, gaining 1.29% to VND23,500.
KLS ranked second in the list with 1.73 million shares traded, adding 0.65% to VND15,500.
VND was in the third place with 1.04 million shares traded, rising 0.45% to VND22,300.
Foreigners kept net buying of VND4.67 billion of Vietnamese shares on the HNX today.
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