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Vietnam index closes up 1.1 pct on foreign buying
January 21, 2014 / 8:42 AM / in 4 years

Vietnam index closes up 1.1 pct on foreign buying

HANOI, Jan 21 (Reuters) - Vietnam's benchmark VN Index
 closed up 1.13 percent on Tuesday, extending its winning
streak to 13 sessions, boosted by foreign funds buying blue
chips, analysts said.
    Shares in Baoviet Holdings, Vietnam's biggest
insurer, climbed 6.79 percent to reach its seven-month high of
47,200 dong ($2.24) each.
    Real estate firm Vingroup rose 4.61 percent and
Petrovietnam Drilling and Well Service increased 6.47
percent.
    Although some investors took profit in the morning session,
the strong buying demand from foreign funds boosted the index on
Tuesday, said analyst Nguyen Hoai Nam at Maybank Kim Eng
Securities.
    "Because of the unstable political situation in Thailand,
some foreign funds are shifting their investment to Vietnam,"
Nam added.
    Foreign investors were net buyers of 22 million shares last
week, the highest weekly level since the first week of February
2013, the exchange's data showed.
    Here is a snapshot of the VN Index at the close (0801
GMT.)
              VN Index     559.91            
           PREV. CLOSE     553.67            
              % CHANGE      1.13%            
                                             
                  HIGH     560.18            
                   LOW     547.65            
                                             
     Change (%) 1-mnth      9.757            
     Change (%) 3-mnth     10.551            
     Change (%) 1-year     21.911            
                                             
          52-week high     559.93   20-Jan-14
          52-week low      440.48   23-Jan-13
 ($1=21,075 dong)

 (Reporting by Mai Nguyen; Writing by Nguyen Phuong Linh;
Editing by Ho Binh Minh)

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