Vietnam index up 1 pct at close; foreigners buy

Fri May 16, 2014 4:32am EDT

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HANOI, May 16 (Reuters) - Vietnam's benchmark VN Index
 rallied 1.04 percent on Friday as foreign investors
bargain hunted shares that fell to low prices, analysts said.
    "The market is supported by steady and increasing purchase
from foreign investors, while pressure from margin call has
reduced," said analyst Nguyen Hoang Phuong at Ho Chi Minh City
Securities.    
    Foreigners have been net buyers on the Ho Chi Minh Stock
Exchange so far this month, with net purchase value totalling
1.4 trillion dong ($66.3 million) as of May 15, the exchange's
data showed.
    Most stocks gained, led by top insurer Baoviet Holdings
 with a 3.94 percent advance. Hanoi-based lender BIDV
, Vietnam's second-biggest bank by assets, also rose
2.11 percent.
    But the index would not gain strong as investors are
sensitive with news on the on-going conflict between Vietnam and
China in the South China Sea, which could lead to any immediate
selling in case of rising tension, Phuong said. 
 
    Here is a snapshot of the VN Index at the close (0801
GMT).
                VN Index      529.49            
             PREV. CLOSE      524.05            
                % CHANGE       1.04%            
                                                
                    HIGH      529.49            
                     LOW      519.39            
                                                
       Change (%) 1-mnth     -10.585            
       Change (%) 3-mnth      -8.418            
       Change (%) 1-year       7.836            
                                                
            52-week high      609.46   25-Mar-14
            52-week low       462.13   30-Aug-13
 ($1=21,130 dong)

 (Reporting by Mai Nguyen; Editing by Ho Binh Minh)
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