Vietnam index up 0.2 pct; property firms gain on home loan rate cut

Fri Jan 3, 2014 3:51am EST

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HANOI, Jan 3 (Reuters) - Vietnam's benchmark VN Index 
inched up 0.17 percent on Friday, partly on gains in real estate
companies after the central bank cut home loan rates. But
trading volume was low as investors were away during a holiday
season.
    The State Bank of Vietnam cut the home loan rate to 5
percent for this year from 6 percent in 2013, to raise
disbursement of home loans under its 30 trillion dong ($1.42
billion) house purchase credit package, it said in a statement
on Thursday.
    Trading volume dropped to 55.6 million shares, the lowest
since Nov. 1, Reuters data showed. 
    Liquidity is expected to improve next week, said analysts,
with investors returning to the market after the new year
holidays. 
    Shares in Real estate firm Vingroup rose 0.71
percent, while property company HAGL advanced 0.49
percent. Hanoi-based lender Vietcombank rose 1.87
percent and dairy product maker Vinamilk gained 0.74
percent. 
    Here is a snapshot of the VN Index at the close (0801
GMT).
                 VN Index       505.37             
              PREV. CLOSE       504.51             
                 % CHANGE        0.17%             
                                                   
                     HIGH       506.28             
                      LOW       503.94             
                                                   
        Change (%) 1-mnth       -0.791             
        Change (%) 3-mnth        2.047             
        Change (%) 1-year       20.595             
                                                   
             52-week high       533.15    10-Jun-13
             52-week low        413.68     3-Jan-13
                                                   
 ($1=21,075 dong)

 (Reporting by Mai Nguyen; Editing by Subhranshu Sahu)
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