August 18, 2014 / 8:22 AM / in 3 years

Vietnam index ends up 0.1, more gains expected

2 Min Read

HANOI, Aug 18 (Reuters) - Vietnam's benchmark VN Index
 rose 0.14 percent on Monday, with volume hitting a
one-month high, while analysts expected further rises for the
market.
    Trading volume reached 139 million shares, the highest since
July 18, Reuters data showed.
    "While profit taking is seen rising near a strong resistance
level, demand is still solid, boosting liquidity on the market,"
said analyst Do Bao Ngoc of MB Securities.
    Analysts expected the index to further gain to near its
resistance level of around 610 points, in what would be a high
of nearly five years.
    Top mobile phone retailer Mobile World led the
gains with a 5.67 percent advance, followed by property firm
Vingroup, which increased 0.65 percent.
    Hanoi-based lender BIDV slumped to its record low
close of 13,900 dong ($0.66) a share with a 2.11 percent fall,
Reuters data showed.
    The bank's net profit in the second quarter nearly halved
from the same time last year to 427 billion dong, it said in a
statement posted late on Friday.
    Here is a snapshot of the VN Index at the close (0801
GMT).
                   VN Index       605.08           
                PREV. CLOSE       604.24           
                   % CHANGE        0.14%           
                                                   
                       HIGH       607.79           
                        LOW       603.33           
                                                   
          Change (%) 1-mnth        2.534           
          Change (%) 3-mnth       15.302           
          Change (%) 1-year       18.893           
                                                   
               52-week high       610.88   6-Aug-14
               52-week low        462.13  30-Aug-13
 ($1=21,175 dong)

 (Reporting by Mai Nguyen; Editing by Martin Petty)

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