Vietnam index up 0.9 pct at midday, bargain buying

Wed Feb 12, 2014 12:01am EST

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HANOI, Feb 12 (Reuters) - Vietnam's benchmark VN Index
 rose 0.91 percent at the break on Wednesday as foreign
investors bought blue chips at low prices.
    Most large-cap stocks rose on Wednesday morning after they
were sold for quick profit when the index hovered near the
strong resistance level of 560 points in the previous session.
    PetroVietNam Gas, Vietnam's largest listed firm,
led the gains, with shares rising 2.63 percent to 78,000 dong
($3.7), followed by Hanoi-based Vietcombank that
advanced 2.12 percent.
    Demand for blue chips, especially from foreign investors,
was still good thanks to a positive macro economic outlook, said
analyst Vu Duy Khanh at Navibank Securities.
    But the index is likely to fall again when it hits 560
points on expected strong selling, Khanh added.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       558.93            
              PREV. CLOSE        553.9            
                 % CHANGE        0.91%            
                                                  
                     HIGH       559.49            
                      LOW       554.26            
                                                  
        Change (%) 1-mnth        6.737            
        Change (%) 3-mnth       10.541            
        Change (%) 1-year       12.119            
                                                  
             52-week high       564.61   22-Jan-14
             52-week low        459.64   27-Feb-13
 ($1=21,090 dong)

 (Reporting by Mai Nguyen)
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