Shares ignore low CPI

Friday, May 24, 2013 13:05

HA NOI (BizHub) — Stocks were mixed on the two national stock exchanges this morning despite the news of a lower national consumer price index (CPI) in May.

The General Statistics Office this morning announced the nation's CPI in May fell 0.06 per cent against the previous month, the third decrease in the past three months.

However, the information failed to bolster investor sentiment as many expect CPI to rise again to boost consumption.

On the HCM City Stock Exchange, stronger buys towards the end of this morning pulled the VN-Index up 0.61 per cent to stand at 501.27 points after plunging to 496 points.

Advancers doubled decliners on a high trading value of nearly VND731 billion (US$34.8 million).

Blue chips rebounded this morning, shown as an increase of 0.74 per cent of the VN30 (tracking the top 30 shares by market capitalisation and liquidity) at around 566 points.

Refrigeration Electrical Engineering Corp (REE), one of the top 30 shares, is temporarily leading the southern market on trades of 2.37 million shares while climbing 5.4 per cent to VND25,600 ($1.22) a share.

Meanwhile on the Ha Noi stock Exchange, the HNX-Index tended to decline toward the end of session, closing the morning at 62.06 after reaching nearly 63 points in early minutes.

Losers narrowly edged up gainers by 88-80 while other 221 codes closed flat.

About 23 million shares, worth VND190 billion ($9 million), were exchanged by the end of the morning. Sai Gon-Ha Noi Bank (SHB) was again the most active code here with 4.11 million shares changing hands at 1.43 per cent to VND7,100 each. - VNS

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