Vietnam index falls about 1 pct by midday on cautious sentiment

Fri Apr 18, 2014 1:04am EDT

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HANOI, April 18 (Reuters) - Vietnam's benchmark VN Index
 fell about 1 percent by midday on Friday on cautious
sentiment as the market lacked supportive information.
    About 70 percent of companies listed on the Ho Chi Minh
Stock Exchange dropped, with blue chips leading the fall. The
index was down 0.92 percent at 574.96. 
    Real estate company Vingroup fell 0.75 percent,
Hanoi-based lender Vietcombank dipped 0.34 percent and
food producer Masan Group was down 0.52 percent.
    Recent gains have pushed some stocks to unusually high
levels, which are not supported by their profit growth, said
Nguyen Hoai Nam, deputy manager of Maybank Kim Eng Securities.
    "Supportive information on the government's policies have
been delayed for quite a long time and this has weakened
investors motivation," Nam added.
    Here is a snapshot of the VN Index at midday (0431
GMT.)
              VN Index     574.96            
           PREV. CLOSE     580.31            
              % CHANGE     -0.92%            
                                             
                  HIGH     580.89            
                   LOW     569.94            
                                             
     Change (%) 1-mnth      -3.34            
     Change (%) 3-mnth      6.755            
     Change (%) 1-year     19.901            
                                             
          52-week high     609.46   25-Mar-14
          52-week low      462.13   30-Aug-13
 
 (Reporting by Nguyen Phuong Linh; Editing by Anand Basu)
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