Vietnam index ends up 0.4 pct, uptrend expected


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Vietnam index ends up 0.4 pct, uptrend expected
Vietnam's benchmark VN Index rose 0.43 percent at the close on Wednesday as investors bought big-cap shares, especially the banking sector, while analysts bet on further rises.
Dairy product maker Vinamilk, the country's second biggest firm by market value, rose 2.08 percent to a closing high of more than three weeks, while PetroVietNam Gas rebounded from early sell-off to end up 1.47 percent. 
Most banks advanced on expectations of good earnings by the sector in 2015 as lower bad debts would allow lenders to focus on growth and expanding credits, said analyst Pham Van Khoa of VNDIRECT Securities.
Hanoi-based BIDV led the lenders to climb 3.03 percent while Vietcombank, top bank by market value, fell on profit taking, ending off 1.18 percent from a closing high of more than five years reached in the previous session.
Analysts expected the index to rise gradually in coming weeks, led by big-caps.
Here is a snapshot of the VN Index at the close (0801 GMT).
VN Index
PREV. CLOSE 549.66
% CHANGE 0.43%
LOW 548.44
Change (%) 1-mnth -5.028
Change (%) 3-mnth -10.54
Change (%) 1-year 7.967
52-week high 644.56
52-week low 504.28

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