Vietnam index up 0.5 pct at midday, selling may rise

Mon Mar 10, 2014 12:59am EDT

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HANOI, March 10 (Reuters) - Vietnam's benchmark VN Index
 rose 0.53 percent to 582.83 points at the break on
Monday, lifted by gains in some blue chips while analysts
expected selling would increase soon, partly due to funds
restructuring portfolios.
    Hanoi-based lender Vietcombank led the gains, with
shares increasing 2.34 percent, followed by food producer Masan
Group that climbed 1.55 percent.
    "But selling might increase as the index reaches near 585
points, its strong resistance level," said deputy manager Nguyen
Tuan at An Binh Securities.
    Exchange-traded funds are expected to sell more than buy
shares in coming weeks during their portfolio restructuring,
analysts said. 
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       582.83            
              PREV. CLOSE       579.75            
                 % CHANGE        0.53%            
                                                  
                     HIGH       583.91            
                      LOW       579.98            
                                                  
        Change (%) 1-mnth        5.455            
        Change (%) 3-mnth        13.65            
        Change (%) 1-year       24.242            
                                                  
             52-week high        596.4   27-Feb-14
             52-week low        461.61    5-Mar-13
 ($1=21,080 dong)

 (Reporting by Mai Nguyen)
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