Vietnam index dips 0.4 pct, volume at 2-1/2-mth high

Tue Feb 11, 2014 3:55am EST

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HANOI, Feb 11 (Reuters) - Vietnam's benchmark VN Index
 ended down 0.36 percent on Tuesday, with volume hitting
the highest in two months and a half, as investors took profit
following recent gains and after the index hit the strong
560-point resistance level.
    Investors were cautious and selling was strong when the
index hovered around 560 points, said analyst Doan Thi Anh
Nguyet at Saigon-Hanoi Securities.
    With most blue chips losing ground, the VN Index closed down
at 553.90 points after climbing to 561.83 points earlier on
Tuesday, nearing the four-year high of 564.61 points reached on
Jan. 22. 
    A total of 175.05 million shares were traded on Tuesday, the
highest since Nov. 21, 2013, Reuters data show.
    The index has dropped every time it hit near 560 points so
far this year, Reuters data showed.
    Shares of property firm HAGL dropped 1.23 percent
after gaining in the previous three sessions, while Hanoi-based
lender BIDV, Vietnam's largest listed bank by assets,
lost 0.59 percent.
    The index needs supportive news to further rise, but it
would not fall below the 540-point support level as the
macro-economic outlook is still positive, Nguyet said.
    Here is a snapshot of the VN Index at the close (0801
GMT).
                 VN Index        553.9            
              PREV. CLOSE        555.9            
                 % CHANGE       -0.36%            
                                                  
                     HIGH       561.83            
                      LOW        553.9            
                                                  
        Change (%) 1-mnth        7.122            
        Change (%) 3-mnth        11.49            
        Change (%) 1-year       12.524            
                                                  
             52-week high       564.61   22-Jan-14
             52-week low        459.64   27-Feb-13
 
 (Reporting by Mai Nguyen; Editing by Ho Binh Minh)
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