Stock prices remain hot

Investors continued to pour money into the market, pushing the index to a gain of 24.59 points to 1147.66.
Trading last week closed with 62 gainers and 24 losers. Thirty-seven among 62 gainers hit the ceiling price by 5%, including mainly blue chips.

Market analysts said demand was outstripping supply due to the upward trend of the market.
The IMF sent a recommendation to the State Securities Commission to increase strict control over the market to rein in the volatile growth, which could end in disaster for investors and the market on the whole.

Investors bid for 17.7 million shares, up 16% on the previous session while offers decreased by 7% to 14.6 million shares.

The bourse closed with a volume of 11 million shares changing hands worth a total VND1.24 trillion (77.5mio US$), up 12% over the previous session.

Sacombank led the market in terms of trading volume with over one million shares traded late last week. followed by PPC (Pha Lai Thermo Power Joint Stock Co.) with 587,230 shares.
IT developer FPT bounced back increasing by VND30,000 to VND645,000 per unit after two decreasing sessions in a row.

Foreign investors made up the bulk of buyers last Friday with 2.1 million shares worth VND400 billion, making up 32% of the market trading value.
Their stockpiles mainly focused on heavyweights such as PPC, VSH (hydropower builder) and VNM (Vinamilk) among others.

The Hanoi market continued to plunge, with the index decreasing 5.8 points to 418.88.

Source: Thanh Nien