February 14, 2014 / 5:16 AM / 4 years ago

Vietnam index dips 0.1 pct by midday on selling

2 Min Read

HANOI, Feb 14 (Reuters) - Vietnam's benchmark VN Index
 edged down 0.14 percent by midday on Friday as investors
sold stocks for quick profits, while the market prospect
remained good, analysts said.
    The index advanced to 576.18 points in strong demand before
ending the morning session lower at 569.38 points.
    Real estate firm Vingroup fell 1.28 percent, and
Hanoi-based lender VietinBank, Vietnam's second-biggest
partly private bank by assets, lost 0.59 percent.
    But in the longer term, Vietnam's market, Asia's best
performer in 2013, remained attractive. The index has so far
risen around 13 percent after an annual expansion of 22 percent
last year.
    "Foreign inflow has been very strong as the market prospect
is positive while other investment channels are not as
appealing," said analyst Vu Tran Vinh Thuy at Dai Viet
Securities.
    Lower deposit rates, drops in gold prices and a tedious real
estate market have lured investors to the share market, Thuy
said, adding that Vietnamese investors, prompted by strong
purchase of foreigners, also increased borrowings.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       569.38            
              PREV. CLOSE       570.18            
                 % CHANGE       -0.14%            
                                                  
                     HIGH       576.18            
                      LOW       569.38            
                                                  
        Change (%) 1-mnth        9.416            
        Change (%) 3-mnth       14.928            
        Change (%) 1-year       15.414            
                                                  
             52-week high       570.68   13-Feb-14
             52-week low        459.64   27-Feb-13
 
 (Reporting by Mai Nguyen)

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