March 24, 2014 / 9:12 AM / 4 years ago

Vietnam index up 1 pct on Q1 earnings, home loans

HANOI, March 24 (Reuters) - Vietnam's VN Index closed
up 0.96 percent on Monday at 607.55 points, its highest in 53
months, with investors in positive mood ahead of a property
market lending boost and first-quarter earnings reports.
    Banks saw the strongest gains, with a 2.25-percent rise for
Vietcombank, the biggest lender by market
capitalisation and 4.5 percent increase for Sacombank.
Eximbank was up 3.47 percent and Military Bank 
rose 2.44 percent.
    "Local investors are putting money into the market on hopes
of good corporate results in the first quarter of 2014," analyst
Vu Duy Khanh at Navibank Securities said. The reports are due in
    Gains on the index were driven in part by news in local
media of a 50 trillion dong ($2.4 billion) loan package to be
offered by the Vietnam Construction Bank, aimed at reviving a
sluggish real estate market.
    Here is a snapshot of the VN Index at the close (0801
                 VN Index       607.55           
              PREV. CLOSE       601.75           
                 % CHANGE        0.96%           
                     HIGH        609.2           
                      LOW       604.18           
        Change (%) 1-mnth        5.465           
        Change (%) 3-mnth       19.288           
        Change (%) 1-year       22.359           
             52-week high       608.51  20-Mar-14
             52-week low        462.13  30-Aug-13

 (Reporting by Hanoi Newsroom; Editing by Martin Petty)

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