HANOI, June 11 Vietnam's benchmark VN Index
edged up 0.3 percent at the break on Wednesday, led by
gains in small- and mid-cap shares as the market expected the
central bank to soon reduce the deposit ceiling rate, an analyst
Major banks have cut their deposit rates early this week,
boosting investors' expectation that the central bank could soon
lower the cap on deposit rate for terms shorter than six months,
said analyst Doan Thi Anh Nguyet of Saigon-Hanoi Securities.
The ceiling is expected to be cut by 0.5 percentage point to
5.5 percent, she said. Lower deposit rates can make bank loans
"This could boost the country's credit growth," Nguyet said.
Hanoi-based Vietcombank was among the top gainers,
advancing 1.05 percent, and brokerage firm Saigon Securities
Incorp increased 2.87 percent.
Here is a snapshot of the VN Index at midday (0431
VN Index 568.6
PREV. CLOSE 566.89
% CHANGE 0.30%
Change (%) 1-mnth 4.504
Change (%) 3-mnth -2.878
Change (%) 1-year 8.07
52-week high 609.46 25-Mar-14
52-week low 462.13 30-Aug-13
(Reporting by Mai Nguyen; Editing by Ho Binh Minh)