Vietnam index up 0.4 pct, hopes on good earnings
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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