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Vietnam index up 0.3 pct at midday in volatile trade
May 20, 2014 / 5:21 AM / 4 years ago

Vietnam index up 0.3 pct at midday in volatile trade

HANOI, May 20 (Reuters) - Vietnam's benchmark VN Index
 was up 0.32 percent at Tuesday's break in choppy trade,
led by gains in some blue-chips but constrained by cautious
sentiment amid festering diplomatic tension with China. 
    PetroVietNam Gas, The country's biggest firm by
capitalisation, outperformed the market with a 2.3 percent rise,
bouncing back after three days of losses.
    GAS last week reported a 27 percent drop in first-quarter
net profit from the same period a year ago.
    Dairy product maker Vinamilk also edged up 0.82
percent, but most of the bourse's top 30 firms fell.
    Foreign investors, who were the main buyers on the Ho Chi
Minh Stock Exchange despite an ongoing territorial dispute with
neighbouring China, have halved their net purchases in the past
two sessions, exchange data showed. 
    "It's likely foreigners have collected enough shares and a
further tapering would be of disadvantage to the market," said
Nguyen Thanh Lam, deputy manager at Maybank Kim Eng Securities.
    Here is a snapshot of the VN Index at midday (0431
                VN Index      534.77            
             PREV. CLOSE      533.04            
                % CHANGE       0.32%            
                    HIGH       535.2            
                     LOW      527.69            
       Change (%) 1-mnth      -5.712            
       Change (%) 3-mnth      -7.798            
       Change (%) 1-year       9.319            
            52-week high      609.46   25-Mar-14
            52-week low       462.13   30-Aug-13
 (Reporting by Mai Nguyen; Editing by Sunil Nair)

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