Vietnam index up 0.5 pct; Vingroup leads on dividend plan

Mon Jul 7, 2014 12:50am EDT

HANOI, July 7 (Reuters) - Vietnam's benchmark VN Index
 rose 0.54 percent to 592.51 points at the break on
Monday, with property firm Vingroup hitting a
three-month high ahead of its dividend payments.
    The Hanoi-based firm will pay 2,149 dong (10 U.S. cents) per
share, or 21.49 percent of the share's face value, and another
48.7 percent by stocks under its 2013 dividend payment in the
third quarter of this year, Vingroup said in a shareholders'
report seen by Reuters.
    VIC shares rose 6.77 percent to 71,000 dong ($3.34), the
highest intra-day level since April 10, Reuters data showed.
    Many investors joining the market after the index surpassed
its strong resistance level of 580 points could further boost
the market to as high as 605 points, analyst Nguyen Hoang Phuong
of Ho Chi Minh City Securities said.
    Here is a snapshot of the VN Index at midday (0431
                VN Index      592.51            
             PREV. CLOSE      589.35            
                % CHANGE       0.54%            
                    HIGH       593.8            
                     LOW      589.61            
       Change (%) 1-mnth       6.485            
       Change (%) 3-mnth      -0.622            
       Change (%) 1-year      20.962            
            52-week high      609.46   25-Mar-14
            52-week low       462.13   30-Aug-13
 ($1=21,250 dong)

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