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CPI results fuel stock recovery
Shares closed up at the end of yesterday's session following news from the General Statistic Office that the nation's consumer price index rose only 0.34 per cent in November over the previous month.
According to Prime Minister Nguyen Tan Dung, credit growth in the first 11 months hit 9 per cent, and could reach the annual target of 11-12 per cent target if the correct measures were applied.
However, Bao Viet Securities analyst Tran Hai Yen noted: "What concerns investors is the growth of new loans rather than lending granted for restructuring purposes."
There was also the possibility that official data from the State would not reflect the actual performance of banks, she added.
On the HCM City Stock Exchange, the VN-Index added 0.16 per cent to close at 506.46 points yesterday.
Nearly 97.4 million shares were exchanged, reducing the trading value slightly to VND1.34 trillion (US$63.2 million).
The VN30, representing the bourse's 30 leading shares, also increased 0.2 per cent to 567.42 points. While only property developer Hoang Anh Gia Lai (HAG) and Vinh Son-Song Hinh Hydro-power (VSH) fell during the morning session, the number of decliners reached 13 by the close of play.
On the Ha Noi Stock Exchange, the benchmark HNX-Index finished at 64.83 points, up 0.37 per cent.
The value and volume of trades reached VND281.35 billion ($13.2 million) and almost 37.2 million shares.
The HNX30, composed of the northern bourse's largest stocks in terms of capitalisation and liquidity, fell 0.3 per cent to 122.91 points.
Foreign investors yesterday bought a net value of VND70 billion ($3.3 million).
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