Vietnam index ends up 0.8 pct, banks surge

Reuters

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Vietnam's benchmark VN Index climbed 0.77 percent to close at 583.76 points on Wednesday, led by strong rallies in the banking sector while other stocks moved mixed amid cautious trade.
Hanoi-based lender BIDV jumped 6.9 percent to a one-year high close at 18,600 dong ($0.87), while VietinBank , Vietnam's top partly-private bank by assets, climbed 6.86 percent to the highest since July 2013, Reuters data showed.
All other banks advanced, while the broader market moved mixed on extended cautious trade after a market speculation of an arrest or indictment of a former top banker, dragging Wednesday volume to lower than the five-day average.
The market may move marginally in mixed trade later this week due to the speculation and ahead of the Feb. 1 effective date of a circular limiting banks' loan for stock investment, said analyst Do Quang Hop of Saigon-Hanoi Securities.
Here is a snapshot of the VN Index at the close (0801 GMT). 
VN Index
583.76
PREV. CLOSE 579.3
% CHANGE 0.77%
HIGH
584.35
LOW 578.59
Change (%) 1-mnth 8.611
Change (%) 3-mnth -0.258
Change (%) 1-year 4.093
52-week high 644.56
3-Sep-14
52-week low 508.51
13-May-14
($1=21,320 dong)

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