Vietnam's stock market falls below 500-point level on rising CPI

Vietnam's stock market fell bellow the 500-point mark on Friday after touching a five-week high last week.Insiders attributed the decrease to impacts of rising consumer price index (CPI) in July. After four months of ups and downs, the calculator of inflation rate is now following a clear upward trend,tapered roller bearingdeep groove ball bearing rising by 0.27 percent over the previous month, 2.68 percent over December 2012, and 7.29 percent over last July.However, they said, this has been happening for the last 10 years.In addition, reports on a recent Grant Thornton survey said Vietnamese business sentiment fell from 22 percent in the first quarter this year to 14 percent in the second quarter, the lowest among ASEAN countries.Analysts said that most traders are still waiting for corporate earnings reports to make new investment decisions, thus seeking opportunities from those stocks with good fundamentals.The VN-Index of Ho Chi Minh City Stock Exchange (HoSE) went up 2.15 points or 0.44 percent to close at 493.93 points on Friday. 

During the week, the VN-Index lost 0.06 point or 1.2 percent from last Friday's closing session. The index experienced two ups and three downs, posting the highest level of 506.16 points on Monday and the lowest level of 491.78 points on Thursday. Last week, VN-Index fluctuated between a range of 494.Drawstring Backpack1 points and 503. 76 points.A total of 43.41 million shares worth 1.04 trillion VND (50.11 million U.S.carbon plate dollars) changed hands at the HoSE on Friday, an increase of 0.27 percent in volume and 0.46 percent in value as against Thursday.VN-30 index, the new benchmark index for the HoSE which has been applied since Feb. 6, 2012 and tracks the 30 leading shares by both market capitalization and liquidity, closed at 544.88 points on Friday, up 0.73 points, or 0.13 percent.A total of 20.spherical roller bearing48 million shares were traded, worth 756.3 billion VND (36.31 million U.S. dollars).On the country's northern bourse, Hanoi Stock Exchange, the HNX- Index concluded at 61.33 points, down 0.19 points, or 0.31 percent, on Friday from the previous trading day.