The two national benchmark indices surprised market watchers by adding value yesterday, following the release of a report by a Ha Noi-based financial information company which projected that inflation would slow in October to a rate of just 0.5 per cent over the previous month.
The report predicted that food, educational services and housing would have the greatest impact on the inflation rate this month.
Yesterday, the State Bank of Viet Nam also devalued the Vietnamese dong against the US dollar for a sixth consecutive days, adjusting the interbank exchange rate by another VND10 per dollar to VND20,688.
Independent analyst Nguyen Van Thuan believed that the central bank would be able to keep the fluctuation of the exchange rate at below 1 per cent this year. HCM Securities Co analysts agreed, predicting that the SBV would delay any devaluation to next year. However, it was likely that the central bank would depreciate the currency by as much as 5 per cent earlier next year.
"Investment in foreign currencies will therefore become attractive, absorbing cash away from securities market," said Viet Vinh from the financial information website vietstock.vn.
On the HCM Stock Exchange, the VN-Index edged up 0.46 per cent to conclude yesterday's session at 414.49 points.
Advancers outnumbered decliners by a two-to-one margin, but both market value fell by about 25 per cent from Thursday's levels to VND329.35 billion (US$15.9 million), on a volume of 21.8 million shares.
While a majority of the 10 leading shares by capitalisation managed gains, Eximbank (EIB) , Vietinbank (CTG) and PetroVietnam Finance (PVF) all declined by 0.8-1.9 per cent.
The most-active share was real estate developer Hoang Quan (HQC), which saw a volume of about 1.7 million units before hitting its ceiling price.
On the Ha Noi Stock Exchange, the HNX-Index added 0.12 per cent to close at 69.19 points with a third of all stocks posting gains. The value of trades was anaemic, however, reaching just VND256.3 billion ($12.4 million) with only 24.2 million shares traded. Construction giant Vinaconex (VCG) saw the highest volume, with 1.9 million shares changing hands.
(source: VNS)
Số lượt đọc:
3
-
Cập nhật lần cuối:
17/10/2011 08:57:14 AM | 