Vietnam index ends at 3-wk low, investors cautious

Tue Mar 4, 2014 3:39am EST

HANOI, March 4 (Reuters) - Vietnam's benchmark VN Index
 edged down 0.59 percent on Tuesday to close at 569.97
points, the lowest since Feb. 12, in low volume as investors
reduced profit taking while buying demand was not strong in
cautious sentiment.
    Volume on the Ho Chi Minh Stock Exchange totalled 126
million shares, below the five-day average of 154 million,
Reuters data showed.
    As the index descended toward the 565-point support level,
investors slowed profit taking as they avoided selling at low
prices, analyst Tran Minh Hoang at Vietcombank Securities said.
    Buying demand was weak as domestic investors were cautious
after a strong net selling by foreigners on Monday, Hoang added.
    Foreign investors net sold 92.5 billion dong ($4.38 million)
worth of stocks on the southern market on Monday, their largest
offload since Feb. 6, the exchange's data showed.
    Political tension in Ukraine and premium losses of the two
exchange-traded funds Market Vectors Vietnam and db x-trackers
FTSE Vietnam might have contributed to the selling, Hoang said.
    Shares of dairy product maker Vinamilk fell 1.42
percent, and property firm Vingroup dropped 1.34
percent.
    Here is a snapshot of the VN Index at the close (0801
GMT).
                 VN Index       569.97            
              PREV. CLOSE       573.38            
                 % CHANGE       -0.59%            
                                                  
                     HIGH       572.28            
                      LOW       563.55            
                                                  
        Change (%) 1-mnth         3.03            
        Change (%) 3-mnth       12.072            
        Change (%) 1-year       20.168            
                                                  
             52-week high        596.4   27-Feb-14
             52-week low        461.61    5-Mar-13
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