March 10, 2014 / 8:41 AM / 3 years ago

Vietnam index rises 0.7 pct on solid domestic buying

HANOI, March 10 (Reuters) - Vietnam's benchmark VN Index
 climbed 0.68 percent, the fourth gain in a row, to close
at 583.69 points on Monday thanks to solid purchase by
Vietnamese investors, an analyst said.
    Shares have attracted Vietnamese banks, which preferred
investment in securities to lending, and also individual
investors who were discouraged by the current low deposit rates
offered by banks, said analyst Nguyen Hoang Phuong at Ho Chi
Minh City Securities.
    Hanoi-based lender Vietcombank led the gain, with
shares rising 3.01 percent, followed by dairy product maker
Vinamilk that edged up 0.72 percent.
    But selling may strengthen soon as exchange-traded funds are
expected to sell more than buy Vietnamese shares in coming weeks
during their portfolio restructuring, analysts have said.
    Here is a snapshot of the VN Index at the close (0801
GMT).
                 VN Index       583.69            
              PREV. CLOSE       579.75            
                 % CHANGE        0.68%            
                                                  
                     HIGH       584.81            
                      LOW       579.98            
                                                  
        Change (%) 1-mnth        5.455            
        Change (%) 3-mnth        13.65            
        Change (%) 1-year       24.242            
                                                  
             52-week high        596.4   27-Feb-14
             52-week low        461.61    5-Mar-13
 
 (Reporting by Mai Nguyen; Editing by Ho Binh Minh)

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