Vietnam index ends near 2-wk low; investors cut losses

Tue Apr 15, 2014 4:42am EDT

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HANOI, April 15 (Reuters) - Vietnam's benchmark VN Index
 marked its fourth straight session of losses on Tuesday,
dropping 1.68 percent to close near a two-week low as investors
sold shares on expectation of further declines.
    "The index is likely to drop more and could fall straight to
560 points," said analyst Phan Dung Khanh at Maybank Kim Eng
Securities.    
    Vietnamese equities have been trending downward over the
past weeks, but steep falls were prevented by gains in select
blue-chips that reported good corporate results and positive
annual targets, Khanh said.
    Foreign investors were net sellers of 595 billion dong
($28.2 million) worth of Vietnamese shares in the previous five
consecutive sessions, exchange data showed.
    Over 70 percent of shares on the Ho Chi Minh Stock Exchange
lost ground on Tuesday, led by PetroVietNam Gas,
Vietnam's largest listed firm, which fell 1.06 percent. 
    Steel producer Hoa Phat Group dropped 4.39 percent
and Hanoi-based lender Vietcombank fell 2.28 percent.
    Here is a snapshot of the VN Index at close (0801
GMT).
                 VN Index       586.09            
              PREV. CLOSE       596.11            
                 % CHANGE       -1.68%            
                                                  
                     HIGH       597.99            
                      LOW       586.09            
                                                  
        Change (%) 1-mnth       -0.121            
        Change (%) 3-mnth        14.13            
        Change (%) 1-year       20.604            
                                                  
             52-week high       609.46   25-Mar-14
             52-week low        462.13   30-Aug-13
 ($1=21,075 dong)

 (Reporting by Mai Nguyen; Editing by Sunil Nair)
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