Vietnam index rises 0.4 pct on rate cut expectations

Thu Jun 12, 2014 1:08am EDT

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HANOI, June 12 (Reuters) - Vietnam's benchmark VN Index
 rose 0.44 percent at the break on Thursday, led by gains
in banking shares on market expectations the central bank would
cut the ceiling on deposit rates, an analyst said.     
    "There have been market talks that the State Bank of Vietnam
could lower its cap for short-term deposit rates in banks," said
deputy manager Nguyen Tuan of An Binh Securities.
    Vietcombank, Vietnam's largest listed lender by
market value, rose 3.44 percent. The bank would pay a 2013 cash
dividend at 12 percent of the share's face value, it said in a
statement released via the exchange on Wednesday.
    Hanoi-based BIDV gained 1.36 percent and Military
Commercial Joint Stock Bank advanced 2.21 percent.
    Here is a snapshot of the VN Index at midday (0401
GMT). 
                VN Index      572.87            
             PREV. CLOSE      570.36            
                % CHANGE       0.44%            
                                                
                    HIGH      574.75            
                     LOW      568.58            
                                                
       Change (%) 1-mnth       5.143            
       Change (%) 3-mnth      -3.082            
       Change (%) 1-year       9.275            
                                                
            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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