Shares on Vietnamese stock market were buoyed following the information that the State Securities Commission (SSC) had tightened control on illegal trading on the market.
The SSC recently uncovered a major stock price manipulation. After inspecting many securities companies, SSC found a group of investors using various accounts in different companies to purchase stocks.
In addition, the SSC earlier on Monday imposed a 320 Vietnamese dong (15,347 U.S. dollars) penalty on a stock company for enabling customers to short-sell, or selling stocks they did not own.
Analysts said that over the next few sessions, the market is likely to see some strong technical bounces but it will not be a decisive end to the correction period beginning last week.
The VN-Index on the HoSE went up 15.69 points, or 3.47 percent to close at 468.09 points on Friday.
During the week, VN-Index gained 13.93 point or 3.06 percent against last Friday's close. The index experienced three ups and two downs, posting the highest level of 468.09 points on Friday and the lowest level of 442.85 points on Tuesday.
Last week VN-Index ranged from 454.16 points to 465.25 points.
A total of 84.457 million shares worth 1.310 trillion VND (62. 86 million dollars) changed hands at the HoSE on Friday, an increase of 69.55 percent in volume and 91.73 percent in value 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 547.31 points on Friday, up 15.2 points, or 2.86 percent against the previous trading day. A total of 26.931 million shares were traded, worth 684.9 billion VND (32.84 million dollars).
On the country's northern bourse, Hanoi Stock Exchange, the HNX-Index concluded at 61.61 points, up 0.44 points, or 0.72 percent on Friday against the previous trading day's closing session.
Although experienced the toughest year after 12 years of operation, in 2012, the VN-Index on HoSE posted a 17.7 percent increase over 2011 with the record high mobilized capital of 170 trillion Vietnamese dongs (8.15 billion dollars), or about 40 percent over 2011, and 40 percent increase in liquidity, according to the State Securities Commission of Vietnam.
