February 28, 2014 / 5:01 AM / 3 years ago

Vietnam index dips 0.2 pct at midday, investors cautious

2 Min Read

HANOI, Feb 28 (Reuters) - Vietnam's benchmark VN Index
 edged down 0.22 percent at the break on Friday as
cautious investors took profit from recent gains around the
590-point resistance level.
    "Many investors were satisfied with the recent gains, so
they sold stocks to secure their profits," said senior analyst
Do Bao Ngoc at VPBank.
    The index has risen a combined 3.4 percent over three
consecutive sessions before retreating on Thursday due to profit
taking. 
    Banking stocks led the losses, with Ho Chi Minh City-based
Sacombank dropping 1.84 percent. Dairy product maker
Vinamilk also fell 0.7 percent.
    More investors might lose confidence in the market's gains
and would start selling stocks if the index could not surpass
the 590-600 points resistance level soon, Ngoc added.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       583.51             
              PREV. CLOSE       584.79             
                 % CHANGE       -0.22%             
                                                   
                     HIGH       586.53             
                      LOW       581.82             
                                                   
        Change (%) 1-mnth         5.08             
        Change (%) 3-mnth       15.019             
        Change (%) 1-year       25.567             
                                                   
             52-week high        596.4    27-Feb-14
             52-week low        459.64    27-Feb-13
                                                   
 
 (Reporting by Mai Nguyen)

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