June 5, 2012 / 5:12 AM / 5 years ago

Vietnamese stocks mixed at midday; buying demand weak

HANOI, June 5 (Reuters) - Vietnamese stocks were mixed at midday on Tuesday and buying demand was weak as investors were concerned over macro conditions and quarterly corporate earnings, a broker and an analyst said.

VN INDEX

Up 0.01 percent at 416.69.

Volume of shares traded: 35.10 million.

Value of shares traded: 592.88 billion dong.

Largest gainers, largest losers

HNX INDEX

Down 0.18 percent at 72.38.

Volume of shares traded: 18.83 million.

Value of shares traded: 189.54 billion dong.

Largest gainers, largest losers

Broker/analyst comments

Nguyen Tuan, head of analysis, VPBank Securities:

"After breaking major support levels, stocks could fall to 400-410 points in the main market and 68.5-69 points in the Hanoi exchange due to weak buying demand and an impact by global market falls.

"Cash flows are being withdrawn from emerging markets and Vietnam is not an exception.

"The market could move sideways in the coming days."

Doan Tran Phuong Phi, head of brokerage, Ho Chi Minh City Securities:

"Buying demand is weak as investors are concerned over macro fundamentals and earnings in the second quarter. Macro conditions have not turned positive as expected.

"Net foreign sales stemming from concerns on global markets also influenced the market.

"In the worst case, the market could hit 390-393 points in HOSE (the main market) and 67-68 points in the Hanoi market.

$1=20,890 dong Reporting by Vu Duy; Editing by Ho Binh Minh and Sunil Nair

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