Vietnam index rises 0.3 pct, selling caps gain
HANOI, March 12 (Reuters) - Vietnam's benchmark VN Index closed up 0.3 percent on Wednesday, the sixth consecutive gain, with property and energy stocks providing support, but greater selling erased earlier gains, traders said. After five climbs in a row, the index ended up at 590.02 points, nearing the 596.40 points hit during the session on Feb. 27, which was the highest since Oct. 28, 2009. By midday the index rose almost 1 percent, but selling emerged later in the day, wiping out the early gains and putting brakes on the market's growth, a trader in Hanoi said. "The short-term trend is still downward, major investors are selling," he said. Property stocks gained, with Vingroup rising 2.67 percent. Petrovietnam Gas, Vietnam's largest listed firm, rose 0.59 percent to close at 85,500 dong ($4.05) each, while all bank stocks lost ground. Exchange-traded funds are expected to sell more than buy Vietnamese shares during their portfolio restructuring in coming weeks, analysts have said. Foreign investors extended their net selling position, having sold 10.44 million shares and bought 9.58 million stocks on Wednesday, based on the exchange's data. They have been net sellers since last month after being net buyers since October, the data show. Here is a snapshot of the VN Index at the close (0801 GMT). VN Index 590.02 PREV. CLOSE 588.5 % CHANGE 0.26% HIGH 596.38 LOW 590.02 Change (%) 1-mnth 6.247 Change (%) 3-mnth 16.463 Change (%) 1-year 23.505 52-week high 596.4 27-Feb-14 52-week low 462.13 30-Aug-13 ($1=21,080 dong) (Reporting by Ho Binh Minh; Editing by Martin Petty)
- Ukraine says Russian tanks flatten town; EU to threaten more sanctions |
- F-16s dispatched for unresponsive pilot of small plane near D.C.
- Polish president warns Germany of Putin's 'empire' ambitions
- EU wields Russia sanctions threat but timing vague |
- Car tied to suspected threat against Obama found in Connecticut