March 26, 2014 / 5:11 AM / 3 years ago

Vietnam index dips 0.3 pct at midday, selling on margin

2 Min Read

HANOI, March 26 (Reuters) - Vietnam's benchmark VN Index
 dipped 0.31 percent at the break on Wednesday as
individual investors sold stocks to reduce margin trading, an
analyst said.
    Retail investors have borrowed huge funds from brokerage
firms for investment in shares, given the index's strong growth
in recent months, analysts said.
    The Ho Chi Minh Stock Exchange, Southeast Asia's best
performer in 2013, has risen nearly a fifth since the beginning
of this year, Reuters data showed.
    Securities companies with a registered capital of less than
300 billion dong ($14 million) have now reached a high margin
lending ratio, said analyst Nguyen The Minh at Viet Capital
Securities.
    Banking sector led the losses, with Vietcombank,
Vietnam's largest listed bank, falling 1.58 percent and
Sacombank dropping 2.37 percent.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       599.97           
              PREV. CLOSE       601.85           
                 % CHANGE       -0.31%           
                                                 
                     HIGH       603.68           
                      LOW       597.03           
                                                 
        Change (%) 1-mnth         2.67           
        Change (%) 3-mnth       19.315           
        Change (%) 1-year       21.938           
                                                 
             52-week high       609.46  25-Mar-14
             52-week low        462.13  30-Aug-13
 ($1=21,075 dong)

 (Reporting by Mai Nguyen)

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