Vietnam index rises 1 pct as sentiment stabilises

Thu May 15, 2014 1:18am EDT

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HANOI, May 15 (Reuters) - Vietnam's benchmark VN Index
 rose 1 percent by the close of Thursday's morning
session, extending gains from the previous day as investor
sentiment has stabilised after a sea dispute with China,
analysts said.
    Last Thursday Vietnam stocks fell the most in nearly 13
years as tension mounted between China and Vietnam in the South
China Sea, and an analyst had said the market could suffer for
about a week. 
    "Investors have now got used to the news from the East Sea,"
said a Vietnamese analyst based in Ho Chi Minh City. "They
understand the dispute may last long so sentiment has
stabilised."
    The index fell twice earlier this week before gaining on
Wednesday, while weak selling could lead to more falls later
this week, traders have said. 
    Steel producer Hoa Sen Group led the rally with a
6.94 percent gain, followed by power plant operator Pha Lai
Thermal Power Co and property firm Tan Tao Investment
and Industry Corp, based on Reuters data.
    PetroVietNam Gas, Vietnam's biggest listed firm,
gained 1.66 percent. 
    Here is a snapshot of the VN Index at midday (0431
GMT).    
                   VN Index       534.77           
                PREV. CLOSE       529.53           
                   % CHANGE        0.99%           
                                                   
                       HIGH       537.27           
                        LOW       527.71           
                                                   
          Change (%) 1-mnth      -11.169           
          Change (%) 3-mnth        -7.46           
          Change (%) 1-year        9.441           
                                                   
               52-week high       609.46  25-Mar-14
               52-week low        462.13  30-Aug-13
    

 (Reporting by Ho Binh Minh; Editing by Subhranshu Sahu)
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