Vietnam index up 0.4 pct at midday, eyes on earnings

Wed Jan 8, 2014 12:05am EST

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HANOI, Jan 8 (Reuters) - Vietnam's benchmark VN Index 
climbed 0.37 percent at the break on Wednesday, lifted by blue
chips as investors expected solid corporate earnings, an analyst
said.
    Investors bought shares of companies with sound business
results last year, especially large-cap stocks, said Tran Thang
Long, a senior analyst at BIDV Securities.
    The index gained also partly thanks to optimistic sentiment
as firms were mapping business targets for 2014 at their
shareholders' meetings around this time, Long said.
    Shares of Petrovietnam Drilling and Well Services Co
 rose 4.1 percent, dairy product maker Vinamilk 
increased 0.74 percent and Hanoi-based lender Vietcombank
 advanced 0.72 percent.
    Long added that the volume might drop soon as investors tend
to reduce investment around the Tet holiday. All markets in
Vietnam will be closed between Jan. 28 and Feb. 5 to celebrate
the Lunar New Year that begins on Jan. 31.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       512.02            
              PREV. CLOSE       510.12            
                 % CHANGE        0.37%            
                                                  
                     HIGH       512.61            
                      LOW       509.01            
                                                  
        Change (%) 1-mnth            0            
        Change (%) 3-mnth        1.928            
        Change (%) 1-year       17.488            
                                                  
             52-week high       533.15   10-Jun-13
             52-week low        426.86    7-Jan-13
 
 (Compiled by Hanoi Newsroom)
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