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Shares hit ceiling prices despite high CPI
The soaring consumer price index in April does not seem to affect the stock market Monday morning with the VN Index up 2.01 per cent and the HNX-Index up 1.61 per cent.
Inflation hit 3.32 per cent this month compared to 2.17 per cent last month, the highest month-on-month figure since 1991, taking the inflation rate for the first four months of the year to 9.64 per cent, already exceeding the target for the year of 7 per cent.
In the HCM Stock Exchange, some blue chips assisted the VN-Index to close up 2.01 per cent at 465.62 points on Apr. 25. The volume increased to 26.27 million shares worth VND562.077 billion (US$26.76 million), up 0.2 and 0.15 respectively compared to last Friday.
Gainers outnumbered losers 7 to 1, with 82 codes hitting their ceiling prices, including three blue chips: Technology developer FPT Corporation (FPT), food producer Masan Group (MSN) and finance Petro Viet Nam (PVF).
PVF closed up 4.37 per cent at VND19,900, FPT and MSN gained 4.2 and 4.04 per cent at VND52,000 and VND103,000 respectively.
SacomBank (STB) saw the highest trading volume at more than 1.87 million shares, closing up 0.74 per cent at VND13,500.
Other blue chips to perform well included insurer Bao Viet Holdings (BVH) up 4.32 per cent and Hoa Phat Group (HPG) up 4.2 per cent.
The HCM Stock Exchange witnessed the failure of estate developer Vincom blue chip (VIC) with a poor result of 1.49 per cent.
In Ha Noi, the HNX-Index gained 1.61 per cent, or 1.35 points, to close at 85.27 points, with more than a quarter of the index hitting ceiling prices.
The trading value closed up at VND454.9 billion ($21.66 million) on a total volume of 34.458 million shares.
Kim Long Securities Corporation (KLS) had the highest trading volume with 3.36 million shares moving, closing up 6.45 per cent at VND9,900.
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