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Vietnam index rallies 0.95 pct, banks lead
January 22, 2015 / 8:47 AM / in 3 years

Vietnam index rallies 0.95 pct, banks lead

HANOI, Jan 22 (Reuters) - Vietnam's benchmark VN Index
 jumped 0.95 percent to close at 574.54 points on
Thursday, with banks advancing strongly on market talks that the
government may delay a circular capping lenders' loans for stock
investment.
    All banks advanced, led by BIDV with a 6.37-percent
jump in a 10-month high volume, followed by Vietcombank
, the top lender in terms of market value, that
increased 2.26 percent.
    Hanoi-based VietinBank jumped 6.62 percent to a
nine-month high close in a strong volume, and other blue chips
also lend support, including PetroVietNam Gas,
Vietnam's top firm by capitalisation.
    Analysts said banks rose on market talks that the government
may delay a rule, which will cap banks' loans for stock
investment at 5 percent of a bank's registered capital and will
tighten requirements for banks in various operations.
 
    The circular, which experts said has been affecting inflows
into Vietnamese shares, will be effective from Feb. 1.
    A surge in banks could help pick up sentiment and attract
inflows into equities, which have been moving marginally since
the beginning of the week in low trade amid a lack of supportive
news and cautious sentiment, analysts said.
    Here is a snapshot of the VN Index at the close (0801
GMT).
             VN Index       574.54             
          PREV. CLOSE       569.12             
             % CHANGE        0.95%             
                                               
                 HIGH       576.48             
                  LOW       567.82             
                                               
    Change (%) 1-mnth          8.8             
    Change (%) 3-mnth       -5.234             
    Change (%) 1-year        1.645             
                                               
         52-week high       644.56     3-Sep-14
         52-week low        508.51    13-May-14
 
    

 (Reporting by Mai Nguyen; Editing by Ho Binh Minh)

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