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Inflation fears cause stocks to dip
Rumours the April inflation rate would increase 3-4 per cent month-on-month put a dampener on trading in stock markets Thusday morning. In HCM City, the VN-Index fell 0.84 per cent to end the session at 456.45 points, after two rally days.
Market liquidity improved to 23.6 million shares, totalling VND449 billion (US$21.4 million) in value.
Losers numbered 212, five times more than gainers, with Tay Ninh Rubber Company (TRC) down the most, 4.9 per cent to VND48,500, followed by Tu Liem Urban Development (NTL) down 4.9 per cent to VND49,000, Imexpharm Pharmaceutical (IMP) down 5 per cent to VND40,300, Sao Vang Rubber (SRC) down 4.7 per cent to VND24,700, and Nam Kim Steel (NKG) down 4.8 per cent to VND23,700.
Blue chips retreated with insurer Bao Viet Holding (BVH) falling 1.2 per cent, Phu My Fertiliser (DPM) falling 0.3 per cent, software producer FPT Corporation (FPT) falling 1.2 per cent, PetroVietnam Finance (PVF) falling 2.6 per cent and Sacombank (STB) falling 0.7 per cent.
Masan Group (MSN), up 4.8 per cent, was the only blue chip to gain.
Saigon Securities Inc (SSI) claimed highest volume, with 1.4 million shares moving.
In Ha Noi, the HNX-Index fell for the 10th day by 0.34 per cent to 83.92 points.
Volume was up 21.1 per cent over the previous day to 28.1 million shares at a value of VND361.1 billion ($17.2 million).
VNDirect Securities (VND) was the most active stock with 2.1 million shares changing hands. The VND closed down 1.44 per cent to VND14,100.
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