Vietnam index dips 0.8 pct at midday, retailers sell

Mon Mar 3, 2014 12:01am EST

HANOI, March 3 (Reuters) - Vietnam's benchmark VN Index
 dropped 0.79 percent at the break on Monday as retail
investors sold stocks for quick profit, while buying demand was
weak ahead of funds' portfolio restructuring.
    "Individual investors reduced margin trading while funds
waited for further declines to pick up cheap stocks on expected
selling by exchange-traded funds," said analyst Nguyen The Minh
at Viet Capital Securities.
    The Market Vectors Vietnam and db x-trackers FTSE
Vietnam exchange-traded funds may start restructuring portfolios
later this month, Minh said.
    Ho Chi Minh City-based Sacombank led the losers,
with shares decreasing 2.82 percent, followed by food producer
Masan Group that fell 1.96 percent.
    The HSBC's Purchasing Managers' Index (PMI) for Vietnam in
February was 51.0 points, down from 52.1 in January but still
signalling an improvement in operating conditions in the
manufacturing sector, the HSBC said in a report on Monday. 
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       581.82            
              PREV. CLOSE       586.48            
                 % CHANGE       -0.79%            
                                                  
                     HIGH       587.11            
                      LOW        580.8            
                                                  
        Change (%) 1-mnth        5.384            
        Change (%) 3-mnth       15.515            
        Change (%) 1-year       23.584            
                                                  
             52-week high        596.4   27-Feb-14
             52-week low        459.64   27-Feb-13
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