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Shares mixed despite rate cut, cheaper petrol
Shares were mixed on both stock exchanges this morning, despite an interest-rate cut and reduced fuel prices.
Yesterday, the central bank decided to lower the deposit interest rate from the current 11 per cent to 9 per cent per year, starting on Monday.
On the same day, petrol prices were also reduced by VND800 (4 US cents) to VND21,900 ($1.1) per litre.
On the HCM City Stock Exchange, the VN-Index gained another 0.35 per cent to finish this morning's session at 435.91 points on a turnover of more than VND816 billion ($39 million). Total volume was 57.6 million shares.
More than half of the top 30 shares by market value and liquidity climbed up, pushing the VN30 Index up 0.38 per cent to 511.37 points. Among its 30 codes, 16 rallied while six sank and eight were unmoved.
HCM City Infrastructure Investment (CII), property developer Quoc Cuong Gia Lai (QCG) and Phu Nhuan Jewelry hit the ceiling of a 5-per-cent rise this morning.
Gainers edged losers up 110-93 overall, with shares of SACOM Development and Investment Corp (SAM) being the most active code on a trade of 3.62 million shares, rising 2.3 per cent to settle this morning at VND8,800D9.
However, on the Ha Noi Stock Exchange, the HNX-Index declined 0.49 per cent, closing at 75.5 points as losers outnumbered gainers by 139-82.
Market value reached VND479 billion ($22.8 million) as nearly 46 million shares changed hands.
PetroVietnam Construction (PVX) was still the most active share with another 6 million shares exchanged, closing up 1.9 per cent at VND10,500 ($0.50).
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