Vietnam index rises 0.4 pct, further gains expected

Mon Jan 13, 2014 3:37am EST

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HANOI, Jan 13 (Reuters) - Vietnam's benchmark VN Index
 rose for a seventh session, closing up 0.42 percent at
521.11 points on Monday, led by gains in the energy sector.
    Shares of PetroVietNam Gas, Vietnam's biggest
listed firm, rose 3.6 percent to its record high of 72,000 dong
($3.42) each, according to Reuters data.
    Other energy firms also advanced, including Petrovietnam
Drilling and Well Services Co that increased 3.1
percent and Petrovietnam Low Pressure Gas Distribution Co
 which climbed 2.86 percent.
    Investors sold several other stocks to take profit,
including Vinamilk and Vietcombank, said
analyst Doan Thi Anh Nguyet at Saigon-Hanoi Securities.
    Vietcombank stocks eased 1.08 percent on Monday. Late last
week the Hanoi-based lender said its gross profit in 2013 eased
0.5 percent from the previous year to $272 million.
 
    The index could surpass its 530-point resistance level in
the short term, analysts said.
    Here is a snapshot of the VN Index at the close (0801
GMT).
                 VN Index       521.11             
              PREV. CLOSE       518.94             
                 % CHANGE        0.42%             
                                                   
                     HIGH       522.32             
                      LOW       518.78             
                                                   
        Change (%) 1-mnth        1.435             
        Change (%) 3-mnth        4.877             
        Change (%) 1-year       12.784             
                                                   
             52-week high       533.15    10-Jun-13
             52-week low        426.86     7-Jan-13
 ($1=21,060 dong)

 (Reporting by Mai Nguyen; Editing by Ho Binh Minh)
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