Stock Market Sets a Record

The opening day of this week saw higher prices for 104 stocks at the Ho Chi Minh Stock Exchange, pushing the VN-Index up 37.53 points or 3.59 percent to 1,084.39.

Up north, the Hanoi bourse put in an even stronger performance and sent the HASTC-Index up 24.75 points (8 percent) to close at 334.49.

An astonishing 14.53 million shares changed hands at the southern exchange on Monday, while orders to buy 5.7 million shares went begging.

With more than 4.88 million shares finding new owners at the Hanoi Securities Trading Center (HASTC), the Vietnamese stock market saw a record VND2,300 billion worth of shares traded today.

Gains were made by 15 of the biggest caps in the VN-Index, limit up for several of them.

Sudico (SJS) shot up VND14,000, FPT Corporation (FPT) put on VND13,000, and Petro Vietnam Drilling and Well Services (PVD) added VND8,000.

Less impressive but still doing well were Sacombank (STB), which went up by VND500, Vinh Son Hydropower (VSH) and Viet Nam Petroleum Transport (VIP), up VND1,000 in both cases, and Pha Lai Thermal Power (PPC), which rose by VND2,000.

The actual number of STB shares traded declined to 2.32 million from the 3-4 million in the past few sessions as investors began eyeing other, less expensive stocks.

Among the small caps, Thanh Thanh Ceramic Tile (TTC) was so in demand that the number of buy orders was five times as great as the number of sell orders.

The stock market is on the move and investors are rushing almost blindly to buy stocks both good and bad. The small fry could be burned, analysts warn. 

By Ba Tan, Cat Tri – Translated by Khanh Hong

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