A rally of blue-chip shares helped slow the fall of Viet Nam's stock indices on Nov. 22, despite the worries about soaring inflation.


In HCM City, the VN-Index closed down just 0.08 per cent to 426.19 points.
Trading volume continued low at 29.8 million shares worth of VND680.3 billion (US$32.4 million).
Six of the ten most capitalised stocks advanced.
These were insurer Bao Viet Holding (BVH), up 2.44 per cent; Phu My Fertilisers (DPM), up 2.35 per cent; multi-business Masan Group (MSN), up 1.64 per cent; software producer FPT Corporation (FPT), up 1.47 per cent; steel producer Hoa Phat Group (HPG), up 0.81 per cent and Eximbank (EIB), up 0.75 per cent.
The major stocks Hoang Anh Gia Lai (HAG) and Sacombank (STB) closed unchanged. STB led the market in volume traded - 1.7 million shares.
The buying of blue chips could signal an injection of foreign capital into the markets, said FPT Securities analyst Nguyen Quang Vinh.
Foreign investors were net-buyers yesterday.
They picked up 715,750 shares worth VND62.4 billion ($3 million) from both stock exchanges - triple the volume of last Friday.
But the soaring inflation in both HCM City and Ha Noi that was revealed in General-Statistic-Office-figures published at the weekend, would likely lead to lacklustre trading, forecast the analyst.
Both indices slumped on Friday amid rumours of the higher inflation.
In Ha Noi, the HNX-Index fell 1.25 per cent to 97.86 points, in comparison to a fall of 1.48 per cent last Friday.
Declines totalled 239 and advances 47.
Volume was still modest with 27.8 million shares for a value of VND495.7 billion ($23.6 million). PetroVietnam Construction (PVX) was the most active stock at 2.5 million shares.
Senior Ha Noi-based broker Nguyen Quang Dung said: "Most investors are thinking about how difficult it will be to loosen monetary policy at the year-end because of the inflation.
"They are either staying away from the markets or seeking instant profit. They do not have a long-term strategy."
"But some thought inflation was about as bad as it would get and it was time to reinvest.
"The optimistic investors could find themselves opportunities as the VN-Index is near 410-420 points when we can expect a strong injection of capital," he said.
FPT Securities analyst Vinh forecast the VN-Index would range between 410-445 points this week.