Vietnam index closes down 0.4 pct on profit taking

Thu May 22, 2014 4:28am EDT

HANOI, May 22 (Reuters) - Vietnam's benchmark VN Index
 edged down 0.4 percent to close at 541.73 points on
Thursday as investors took profit from stocks after a streak of
four gains, analysts said.
    Property firm Vingroup led the losses, with shares
dipping 1.49 percent, followed by Hanoi-based lender BIDV
 that fell 2.01 percent.
    "Investors are still cautious about the situation in the
East Sea (South China Sea) so they secured profits near the
index's resistance level of 550 points," said analyst Hoang Huy
of ACB Securities.
    Selling slightly pushed up liquidity on the Ho Chi Minh
Stock Exchange, analysts said. Volume reached 130 million shares
on Thursday, above the five-day average level of 106 million,
Reuters data showed.
    Vietnamese Prime Minister Nguyen Tan Dung recently said his
government was considering various "defence options" against
China, including legal action, following the deployment of a
Chinese oil rig to waters in the South China Sea that Hanoi also
claims. 
    The index had gained a combined 3.8 percent over the last
four sessions ending on Wednesday. 
    Here is a snapshot of the VN Index at the close (0801
GMT).
           VN Index      541.73            
        PREV. CLOSE      543.88            
           % CHANGE      -0.40%            
                                           
               HIGH       547.2            
                LOW      541.43            
                                           
  Change (%) 1-mnth      -2.555            
  Change (%) 3-mnth      -4.678            
  Change (%) 1-year       8.737            
                                           
       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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