Vietnam index up 0.2 pct at midday on buying demand

Tue Dec 10, 2013 12:25am EST

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HANOI, Dec 10 (Reuters) - Vietnam's benchmark VN Index
 edged up 0.17 percent by midday on Tuesday, supported by
gains in several blue chips as an exchange traded fund bought
stocks during its portfolio restructuring, analysts said.
    Shares of food producer Ma San Group climbed 2.3
percent, extending a gain on Monday. The db x-trackers FTSE
Vietnam exchange-traded fund (ETF) has said it would
buy more MSN shares during the fourth-quarter restructuring.
    Shares of PetroVietNam Gas, Vietnam's largest
listed firm, were up 0.78 percent, and dairy product marker
Vinamilk increased 0.72 percent, but the number of
falling stocks almost doubled the gainers on Tuesday morning.
    The index might face some corrections soon as the ETF was
selling other stocks, said analyst Nguyen The Minh at Viet
Capital Securities.
    Investors were also selling small- and mid-cap stocks as
they were cautious when the index neared the 513-point
resistance level, Minh said.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index        512.1             
              PREV. CLOSE       511.23             
                 % CHANGE        0.17%             
                                                   
                     HIGH       513.83             
                      LOW       510.67             
                                                   
        Change (%) 1-mnth        2.531             
        Change (%) 3-mnth        8.735             
        Change (%) 1-year       33.202             
                                                   
             52-week high       533.15    10-Jun-13
             52-week low        383.53    10-Dec-12
 
 (Reporting by Mai Nguyen)
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