February 7, 2014 / 8:47 AM / 4 years ago

Vietnam index ends down 0.9 pct on profit taking

HANOI, Feb 7 (Reuters) - Vietnam's benchmark VN Index 
fell 0.89 percent to close at 549.76 points on Friday, dropping
for the third consecutive session as investors sold blue chips
for quick profits.
    "This profit-taking should be short-term only, and the VN
Index would rebound soon," said analyst Nguyen Hoang Phuong at
Ho Chi Minh City Securities.
    BIDV, Vietnam's largest listed bank by assets, led
the losses, with shares dropping 5.68 percent, followed by top
insurer Baoviet Holdings that fell 3.34 percent.
    The selling followed gains in January, in which the index
advanced around 10 percent.
    The VN Index could rise 17-20 percent this year to 590-600
points, given gradual economic improvements and ongoing reforms,
Saigon Securities Incorp said a report seen by Reuters
on Friday.
    Saigon Securities was the country's second-largest brokerage
firm by market share in 2013.
    Here is a snapshot of the VN Index at the close (0801
                 VN Index       549.76            
              PREV. CLOSE       554.68            
                 % CHANGE       -0.89%            
                     HIGH       558.51            
                      LOW       549.37            
        Change (%) 1-mnth        8.953            
        Change (%) 3-mnth        10.38            
        Change (%) 1-year        13.58            
             52-week high       564.61   22-Jan-14
             52-week low        459.64   27-Feb-13
 (Reporting by Mai Nguyen; Editing by Ho Binh Minh)

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