The VN-Index closed Friday's session at 1,104.61 points, up 1.8% over the previous week.

Volatility in blue chips dictated fluctuations on the VN-Index last week, said Vo Hoai Chang, an analyst with SME Securities, in an interview Friday.

Retail investors, though, were still able to make substantial gains on newly-listed arid mid cap stocks.

"Demand for newcomers exceeded supply, which only supported price hikes," said Chang.

Can Tho Agricultural Technical (TSC), for instance, increased 20% last week to VND63,000, while Vitaco (VTO) surged 13.33% to VND102,000.

Positive economic data and expectations that growth targets should be met this year have also supported the market, said Nguyen Van Dung, general director of Tan Viet Securities.

"The country's 8.5% GDP growth target is within reach and foreign direct investment inflows continue to rise," said Dung. "I believe the market has passed its deep adjustment phase, and has begun a new period of growth and investor confidence."

Chang predicted if the VN-Index could exceed the 1,113-point psychological barrier, stocks would hit another growth spurt.

Positive third quarter earnings reports and ongoing buying among institutional investors should also help buoy prices in the week ahead, said analysts.

On the Ha Noi Securities Trading Centre, the HASTC-Index increased 3.4% for the week to 362.27 points.

Moving forward, analysts will be eyeing the Hanoi exchange closely after Saigon Securities Inc (SSI) delisted on Friday. SSI dominated trading activity on the HASTC for the past couple months and will soon join the HCM City bourse on October 29.

Without the impetus of SSI shares to drive the Hanoi exchange, analysts are concerned the bourse could take a significant hit.

Investor confidence was also rocked last week by two incidents of mismanagement on the HASTC, first with Thang Long Viglacera Ceramic shares on Wednesday and then with SSI as it delisted.

The exchange's deputy director, Nguyen Vu Quang Trung, afterwards said the centre would upgrade the trading software in order to better serve investors.

Source: Viet Nam News