Vietnam index ends up 2 pct on buying near support level

Tue Apr 22, 2014 4:33am EDT

HANOI, April 22 (Reuters) - Vietnam's benchmark VN Index
 bounced back 2.1 percent on Tuesday, led by banks and
property firms as investors sought  stocks after recent falls.
    Investors became more confident to join the market as the
index fell near a strong support level between 550 and 555
points, analysts said.
    Most shares reverted recent losses after the index hit near
its 10-week low on Monday, having fallen for a combined 3.8
percent since last Friday. 
    "Some stocks have plummeted to their lowest prices in 2014,
attracting investors to bargain hunt near the index's strong
support level," said analyst Nguyen The Minh at Viet Capital
Securities.
    Property and banking sectors led the gains, with real estate
firm Vingroup advancing 2.33 percent. Hanoi-based
lender Vietcombank rose 1.75 percent and VietinBank
 increased 2.56 percent.
    Here is a snapshot of the VN Index at the close (0801
GMT).    
                   VN Index       569.87            
                PREV. CLOSE       558.14            
                   % CHANGE        2.10%            
                                                    
                       HIGH       569.87            
                        LOW       556.47            
                                                    
          Change (%) 1-mnth       -2.262            
          Change (%) 3-mnth        5.042            
          Change (%) 1-year       24.287            
                                                    
               52-week high       609.46   25-Mar-14
               52-week low        462.13   30-Aug-13
 
 (Reporting by Mai Nguyen; Editing by Ho Binh Minh)
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