Vietnam index up 0.4 pct, hopes on good earnings

Tue Jul 1, 2014 12:58am EDT

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HANOI, July 1 (Reuters) - Vietnam's benchmark VN Index
 rose 0.4 percent at the break on Tuesday as investors bet
on good business results in brokerages and several other blue
chips companies, an analyst said.    
    "Tyre makers and securities firms are likely to report good
corporate results in the second quarter," said analyst Le Dac An
from Tan Viet Securities.
    Shares in brokerage companies Saigon Securities Incorp
 and Ho Chi Minh City Securities Corp,
Vietnam's largest in term of market shares, both gained. SSI
stocks rose 3.09 percent and HCM shares increased 1.12 percent. 
    The Southern Rubber Industry Joint Stock Co, one of
the country's largest tyre makers, increased 2.15 percent by
midday, having touched its highest intra-day level since April
14 of 43,000 dong ($2.02), Reuters data showed.
    The index could further gain to surpass its strong
resistance level of 580 points, given solid funds extended in
the afternoon session, An said.
    Here is a snapshot of the VN Index at midday (0431
GMT). 
                VN Index      580.42            
             PREV. CLOSE      578.13            
                % CHANGE       0.40%            
                                                
                    HIGH      580.49            
                     LOW       577.4            
                                                
       Change (%) 1-mnth       2.866            
       Change (%) 3-mnth      -2.719            
       Change (%) 1-year      20.161            
                                                
            52-week high      609.46   25-Mar-14
            52-week low       462.13   30-Aug-13
 ($1=21,290 dong)

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