Vietnam index up 0.1 pct at midday, falls expected

Tue Apr 1, 2014 12:54am EDT

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HANOI, April 1 (Reuters) - Vietnam's benchmark VN Index
 edged up 0.12 percent by midday on Tuesday, led by gains
in some blue chips, but steady selling could pull the index down
in coming days, an analyst said.
    Shares of property firm HAGL rose 3.2 percent after
the firm projected its 2014 net profit to jump 50 percent from a
year ago to 1.46 trillion dong ($69.2 million), the company said
in a statement released on Monday.
    PetroVietNam Gas, Vietnam's largest listed firm,
advanced 0.6 percent and dairy product maker Vinamilk 
increased 0.71 percent.
    But falls in most stocks kept the index from a strong gain,
with the number of retreating stocks tripling the gainers,
Reuters data showed. On Monday stocks fell and volume hit the
lowest level since March 5 on cautious trading. 
    Selling is strong while investors were cautious in buying,
so the index was on a downward trend with a lack of supportive
news, analyst Tran Minh Hoang at Vietcombank Securities said.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       592.27             
              PREV. CLOSE       591.57             
                 % CHANGE        0.12%             
                                                   
                     HIGH       592.27             
                      LOW       586.63             
                                                   
        Change (%) 1-mnth        0.868             
        Change (%) 3-mnth       17.229             
        Change (%) 1-year       20.473             
                                                   
             52-week high       609.46    25-Mar-14
             52-week low        462.13    30-Aug-13
 ($1=21,085 dong)

 (Reporting by Mai Nguyen)
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