Vietnam index up 0.7 pct at midday in thin trade

Wed May 7, 2014 12:56am EDT

HANOI, May 7 (Reuters) - Vietnam's benchmark VN Index 
rose 0.69 percent at the break on Wednesday in thin trade as
investors cautiously picked up shares following recent declines.
    "Long-term investors saw an opportunity to collect equities
that were previously too high to purchase, but only at a low
volume as they expected the index would further fall," said
analyst Nguyen The Minh at Viet Capital Securities.
    Top insurer Baoviet Holdings was among the top
gainers. Its shares climbed 4.45 percent to 32,500 vietnam dong
($1.54) each after closing on Tuesday at the lowest level since
Dec. 2012, Reuters data showed.
    Dairy product maker Vinamilk also edged up 1.5
percent and food producer Masan Group rose 2.19
percent. 
    Trading volume reached 26.8 million shares, well below the
five-day average of 62 million, Reuters data showed.     
    On Tuesday the index fell to a near three-month low on
widespread selling by retail investors. 
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       558.93            
              PREV. CLOSE       555.11            
                 % CHANGE        0.69%            
                                                  
                     HIGH       560.18            
                      LOW       553.21            
                                                  
        Change (%) 1-mnth       -6.396            
        Change (%) 3-mnth        0.078            
        Change (%) 1-year       13.678            
                                                  
             52-week high       609.46   25-Mar-14
             52-week low        462.13   30-Aug-13
 ($1=21,070 dong)

 (Reporting by Mai Nguyen)
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