Vietnam index jumps 1.6 pct at midday on bargain hunts

Thu Apr 17, 2014 12:46am EDT

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HANOI, April 17 (Reuters) - Vietnam's benchmark VN Index
 bounced back 1.56 percent by midday on Thursday from a
six-week low close in the previous session as investors picked
up cheap stocks after recent falls.
    The index tumbled 2.01 percent to end at its lowest level
since March 4 on Wednesday in wide-ranging offloading of stocks,
after having fallen for five straight trading days, Reuters data
showed. 
    "Bargain hunting are seen for most shares, and the market is
expected to extend rises in coming days, but at a slightly
slower pace," said deputy manager Nguyen Tuan at An Binh
Securities.
    PetroVietNam Gas, Vietnam's largest listed firm,
rose 2.76 percent on Thursday morning after drifting lower in
the previous three consecutive sessions, Reuters data showed.
    Property firm Vingroup climbed 2.27 percent and
Hanoi-based lender BIDV advanced 1.88 percent.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       583.38            
              PREV. CLOSE       574.29            
                 % CHANGE        1.58%            
                                                  
                     HIGH       583.38            
                      LOW       575.83            
                                                  
        Change (%) 1-mnth       -3.777            
        Change (%) 3-mnth        7.638            
        Change (%) 1-year       20.127            
                                                  
             52-week high       609.46   25-Mar-14
             52-week low        462.13   30-Aug-13
 
 (Reporting by Mai Nguyen)
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