VN-Index continued on upward path

Market analysts said demand was outstripping supply due to the upward trend of the market.
The market’s total trading volume increased by 1.6 million shares to VND1.1 trillion (68.7mio US$).
Penny stocks maxed out at the five percent growth ceiling, while heavyweights made slight gains or remained unchanged.

Thirty-six of them rose more than 20%, with the highest closing at VND140,000.
BBT (Bach Tuyet Cotton Co.,) and LBM (Lam Dong Building Material Company) both increased 26.67% to VND26,600 and VND32,300 respectively.

Only two blue chip stocks hit the ceiling rate of 5 per cent including SJS (a Hanoi-based infrastructure developer) and GMD (Ho Chi Minh City’s giant forwarding company).
SJS and GMD increased by VND17,000 and VND8,000 to VND372,000 and VND185,000 respectively.

While REE (Refrigeration Electrical Engineering Corp.) fell by VND2,000 to VND276,000.
Foreign investors were net sellers last Friday with trading volume of 2.35 million shares.


The bourse-listed infrastructure development fund VF1 reported it obtained great business success promoted by the fast development of the bourse.

VietFund Management said the fund’s profits last year increased to VND961.5 billion, ten times the figure in the previous year.
Some 60% of the fund incomes came from listed stocks, while the remaining was from unlisted securities.
The fund’s porfolio last year was in four main sectors, finance and banking, consumer goods, infrastructure and oil and gas.

Vietfund has proposed the State Securities Commission scale up its capital to VND1 trillion from the current VND500 billion to acquire large state-run corporations that plan to go public this year.
The fund planned to issue fund shares to existing investors at the price of 30% higher or less than the fund share’s net asset value, scheduled on March 20.
Its net asset value per unit was VND31,281, increasing 146% since early last year.
The fund said it would use 95% of the mobilized capital to invest in listed and unlisted stocks.


Prime Minister Nguyen Tan Dung signed last Thursday a decree on punishing administrative violations in the securities sector.

A maximum fine of VND70 million would be slapped on disclosure and use of insider information with the intent to trade stocks for profit, and for collusion with other traders to create false demand in the market.

Fines ranging from VND10 million to VND50 million would be imposed on those who intentionally release distorted information, hide the truth or use information not included in the prospectus to explore the market prior to the public offering of shares.
Any organization issuing stocks would be fined up to five times the sum of money it collected if it carried out a public offering without official permission.
The organizations’ sales would also be delayed for 45 days.