The VN-Index closed nearly unchanged on Thursday at 494.99 points, as investors on the HCM City Stock Exchange reacted with mixed feelings to the news that consumer prices nationwide in February rose by nearly 2 percent over January, while the State Bank of Viet Nam decided to keep the prime rate unchanged at 8 percent during March.
The value of the day's trades on the southern bourse remained meagre, at VND1.2 trillion (US$65 million) on a volume of nearly 28 million shares. Gainers outnumbered losers by 84-64, while Sacombank (STB) led trading with over 2.26 million shares changing hands.
"The VN-Index at one point reached 500 as share demand increased significantly in continuous trading," FPT Securities Company analysts wrote in their daily report.
While buys became weaker at the end of the session, overall trading evolved positively compared to the ruffled atmosphere of the previous two sessions, they wrote.
On the Ha Noi Stock Exchange, the HNX-Index closed off 0.28 percent after Wednesday's surprising gains, ending yesterday's session at 162.32 points.
Trading value rose by over 10 percent on the day but remained meagre, at about VND413.5 billion ($21.6 million), while the total volume of trades grew to 13 million shares. Gainers on the northern bourse, however, outweighed losers by 138-63.
Kim Long Securities Company (KLS) was once again the most active share on the northern bourse with 3.87 million shares sold in Ha Noi yesterday.
Commenting on the contrasting moves on the two bourses, Hoa Binh Securities Company Deputy Director Nguyen Huy Duong said the difference was not clear and significant.
"Although the HNX-Index lost value yesterday while the VN-Index was flat, over half of the codes on the northern market posted gains," said Duong, noting, in particular, that most of the blue chips in Ha Noi were gainers, including KLS, PetroVietnam Construction (PVX) and Vinaconex (VCG).
"The Government's decision to stand firm on economic policies, focusing on stability and controlling inflation, are partly calming investors," he added.
"In addition, stable developments on global markets have also reassured investors and prevented domestic indices from falling steeply."
Foreign investors concluded yesterday as net sellers on the HCM City bourse, selling a net 3.5 million shares worth over VND92 billion ($4.8 million), their largest single-day unloading of shares so far this year.
Meanwhile, they returned to being net buyers on the Ha Noi market by a net value of VND5.5 billion ($287,958).