VN-Index increases by 1.85%

The VN-Index soared 18.93 points to 1041.33.

Market analysts attributed the “crazy” rush to buy shares among investors as investors purchasing without concern for the performance of listed-firms they bought.
There were more buyers than sellers as the session finished with a volume of 17.5 million shares and turnover of 1.06 trillion VND (66mio US$), increasing by 142 billion VND (8.8mio US$).

They also forecast that given the rate of capital inflow, the market is unlikely to cool down, despite warnings and efforts to control the market by authorities.
Seventy-two stocks gained and 23 lost.

Heavyweights continued to max out at the ceiling price growth of 5% including IT developer FPT, infrastructure developer SJS, Petroleum technical service PVD.
Sacombank stocks yesterday led the bourse in terms of trading volume with 837,000 shares traded while FPT continued to lead the market on trading value with 199 billion VND, nearly 20% of the market’s trading value.

Foreign investors retained aggressive interest in speculation over blue chips, stockpiling 2.6 million shares worth VND533 billion, half of the market’s trading value and up VND140 billion from the previous session.
Their stockpiles focused on PVD, FPT, VSH (hydropower builder) and GMD (freight forwarder).
They also sold 785,000 shares worth 178 billion VND(11mio US$).

Source: Thanh Nien