Vietnam index dips 0.7 pct due to margin trading
HANOI, Sept 18 (Reuters) - Vietnam's benchmark VN Index dropped 0.73 percent to close at 474.26 points on Wednesday, with shares including blue chips being beaten by margin trading. Shares of Petrovietnam Finance shed 6.98 percent, extending a week-long fall after it announced a merger with a domestic bank. It has been difficult to sell PVF stocks since, so investors sold other shares in their portfolio to qualify for the margin ratio, analyst Nguyen The Minh at Viet Capital Securities said. Other banks also lost ground, with Hanoi-based lender Vietcombank sliding 2.33 percent, VietinBank, the country's largest partly private bank in terms of assets, losing 1.88 percent and Sacombank easing 1.69 percent. Analysts said the index was not expected to pass the 480-485 point range by the end of the week. Here is a snapshot of the VN Index at close (0801 GMT). VN Index 474.26 PREV. CLOSE 477.73 % CHANGE -0.73% HIGH 479.43 LOW 473.52 Change (%) 1-mnth -5.92 Change (%) 3-mnth -4.17 Change (%) 1-year 18.912 52-week high 533.15 10-Jun-13 52-week low 372.39 5-Nov-12 (Compiled by Hanoi Newsroom; Editing by Ho Binh Minh)
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