Vietnam index dips 0.4 pct at midday, more big-caps sales

Thu Feb 6, 2014 11:57pm EST

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HANOI, Feb 7 (Reuters) - Vietnam's benchmark VN Index 
lost 0.39 percent at the break on Friday as investors extended
selling blue chips after their strong gains in January.
    Similar to Thursday's session, investors took profit from
large-cap stocks, the main boost for the index's rally of more
than 10 percent last month.
    Hanoi-based lender BIDV, Vietnam's largest listed
bank by assets, dropped 5.11 percent, and top insurer Baoviet
Holdings fell 1.67 percent.
    But buying in small- and mid-cap shares prevented the index
from plummeting, said analyst Do Bao Ngoc at SeABank Securities.
    Investors would keep funds in the market while shifting
among sectors in the short-term, making the index to move
sideway in coming weeks, while the long-term prospect remained
positive given optimism over the economic outlook, Ngoc said.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       552.53            
              PREV. CLOSE       554.68            
                 % CHANGE       -0.39%            
                                                  
                     HIGH       558.51            
                      LOW       551.93            
                                                  
        Change (%) 1-mnth        8.953            
        Change (%) 3-mnth        10.38            
        Change (%) 1-year        13.58            
                                                  
             52-week high       564.61   22-Jan-14
             52-week low        459.64   27-Feb-13
 
 (Reporting by Mai Nguyen)
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