January 10, 2014 / 5:16 AM / 4 years ago

Vietnam index up 1.2 pct, boosted by buying

HANOI, Jan 10 (Reuters) - Vietnam's benchmark VN Index
 climbed 1.18 percent at the break on Friday, supported by
buying of blue chips and speculative stocks such as property
firm FLC Group, an analyst said.
    Investment has been pouring in Vietnamese stocks, a very
positive sign that boosts investors' sentiment in the short
term, said analyst Nguyen The Minh at Viet Capital Securities.
    Volume reached 58.2 million shares in the morning session,
close to the five-day average of 68.5 million, Reuters data
showed.
    PetroVietNam Gas, the country's largest listed
firm, led the gain with shares advancing 4.41 percent, followed
by dairy product maker Vinamilk that rose 1.47 percent.
    Most shares gained strongly with high volume, showing the
index would rise beyond 530 points in the next few weeks, Minh
said.
    The index, Southeast Asia's best performer, failed to
surpass its strong resistance level of 530-533 points in 2013,
during which it reached the year-high close of 527.97 points on
June 7, according to analysts and Reuters data.
    Here is a snapshot of the VN Index at midday (0431
GMT).
                 VN Index       523.06            
              PREV. CLOSE       516.98            
                 % CHANGE        1.18%            
                                                  
                     HIGH       523.06            
                      LOW       518.24            
                                                  
        Change (%) 1-mnth        1.125            
        Change (%) 3-mnth        3.258            
        Change (%) 1-year       15.199            
                                                  
             52-week high       533.15   10-Jun-13
             52-week low        426.86    7-Jan-13
 
 (Reporting by Mai Nguyen)

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