May 28, 2014 / 8:56 AM / 3 years ago

Vietnam index closes up 0.8 pct; eye on funds' restructuring

HANOI, May 28 (Reuters) - Vietnam's benchmark VN Index
 gained for the third consecutive session on Wednesday,
ending 0.83 percent up on strong buying from retail investors
ahead of portfolio restructuring by exchange-traded funds, an
analyst said.    
    Two major exchange-traded funds in Vietnam are likely to buy
a large amount of blue-chips during their portfolio
restructuring in June. Investors, especially retailers, bought
shares on hopes of selling them later next month, said analyst
Nguyen Hoang Phuong of Ho Chi Minh City Securities. 
    Stocks of Ho Chi Minh City-based Sacombank were
among the outperformers, jumping 6.38 percent to its highest
close in one month, Reuters data showed.
    Vietcombank, the country's biggest listed bank by
market value, rose for the third straight session, up 1.4
percent to its highest close since April 25.
    The Market Vectors Vietnam and db x-trackers FTSE
Vietnam exchange-traded funds are scheduled to
rearrange their second-quarter investment baskets by late June.
    Here is a snapshot of the VN Index at the close (0801
GMT).
                VN Index      557.34            
             PREV. CLOSE      552.75            
                % CHANGE       0.83%            
                                                
                    HIGH      557.93            
                     LOW      553.03            
                                                
       Change (%) 1-mnth        #N/A            
       Change (%) 3-mnth      -5.479            
       Change (%) 1-year        #N/A            
                                                
            52-week high      609.46   25-Mar-14
            52-week low       462.13   30-Aug-13
 ($1 = 21,125 dong)

 (Reporting by Mai Nguyen; Editing by Sunil Nair)

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