Vietnam index closes up 0.7 pct foreign buying

Mon May 19, 2014 4:42am EDT

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HANOI, May 19 (Reuters) - Vietnam's benchmark VN Index
 was up 0.67 percent at close on Monday, buoyed by
extended buying by foreign investors at low prices, analysts
said.
    Foreign investors have been net buyers on the Ho Chi Minh
Stock Exchange since the beginning of May with net purchases
worth 1.55 trillion dong ($73.2 million) as of May 16, exchange
data showed.
    Falls in Vietnamese equities due to a major dispute between
Vietnam and China have created a buying opportunity for
investors, said analyst Tran Thang Long at BIDV Securities.
    "A month ago no one expected the index would drop that low,"
Long added.
    Property firm Vingroup led the gains, with shares
climbing 3.08 percent. The company's first-quarter net profit
quadrupled from the same period a year earlier to 1.1 trillion
dong, it said on May 15.
    Hanoi-based Vietcombank, the country's biggest
lender by capitalisation, rose 1.48 percent.     
    Here is a snapshot of the VN Index at close (0801
GMT).
                VN Index      533.04            
             PREV. CLOSE      529.49            
                % CHANGE       0.67%            
                                                
                    HIGH      534.68            
                     LOW      525.82            
                                                
       Change (%) 1-mnth      -7.801            
       Change (%) 3-mnth      -7.467            
       Change (%) 1-year       7.984            
                                                
            52-week high      609.46   25-Mar-14
            52-week low       462.13   30-Aug-13
 ($1 = 21,100 dong)

 (Reporting by Mai Nguyen; Editing by Anupama Dwivedi)
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