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Vietnam index nears 2-wk high, Vietcombank leads
August 20, 2014 / 8:41 AM / 3 years ago

Vietnam index nears 2-wk high, Vietcombank leads

HANOI, Aug 20 (Reuters) - Vietnam's VN Index rose
0.34 percent on Wednesday to reach its highest close since Aug.
7, lifted by gains on some blue-chips that offset net selling by
foreign investors.
    Vietcombank, the top lender by market value, rose
2.71 percent to end at a four-month high and in large volume,
Reuters data showed.
    The bank, 15 percent owned by Japan's Mizuho Corporate Bank
, last week reported a 13 percent rise in first half net
profit.
    "Despite gains in the market, investors should be cautious
as foreign investors have been constantly offloading stocks in
August," said Nguyen Thanh Lam, a deputy manager at Maybank Kim
Eng Securities.
    Foreigners have sold a net 1.4 trillion dong ($66.1 million)
so far this month, 11 times the net value sold for the whole of
July, exchange data showed.
    Here is a snapshot of the VN Index at the close (0801
GMT).
                   VN Index        606.7           
                PREV. CLOSE       604.64           
                   % CHANGE        0.34%           
                                                   
                       HIGH       608.72           
                        LOW       602.81           
                                                   
          Change (%) 1-mnth        1.405           
          Change (%) 3-mnth       13.432           
          Change (%) 1-year        18.32           
                                                   
               52-week high       610.88   6-Aug-14
               52-week low        462.13  30-Aug-13
 ($1=21,180 dong)

 (Reporting by Mai Nguyen; Editing by Martin Petty)

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