Vietnam index closes down 1 pct, foreign selling weighs
HANOI, Aug 29 (Reuters) - Vietnam's VN Index closed down 1 percent on Thursday, bucking a regional sharemarket rebound as foreigners dumped stocks and local investors were reluctant to get involved, analysts said. Financials led the fall with Vietcombank down 5.3 percent and BaoViet Holdings shedding 4.5 percent, fuelled by net selling by exchange-traded funds. Real estate companies also lost, with VinGroup down 3.15 percent and Hoang Anh Gia Lai 1 percent. The foreign outflow meant the index could struggle to regain lost ground, unless there was news that could change sentiment about Vietnam's sluggish economy, said Tran Minh Hoang of Vietcombank Securities. "If foreign investors keep selling in the next days, the index will be unable recover as local investors always been impacted negatively by foreigners' selling," Hoang said. Here is a snapshot of the VN Index at the close (0801 GMT.) VN Index 468.55 PREV. CLOSE 473.3 % CHANGE -1.00% HIGH 477.09 LOW 468.55 Change (%) 1-mnth -4.177 Change (%) 3-mnth -8.334 Change (%) 1-year 22.687 52-week high 533.15 10-Jun-13 52-week low 372.39 5-Nov-12 (Compiled by Hanoi Newsroom; Editing by Martin Petty)
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