Vietnam index falls 1 pct; ETF reviews boost volumes

Reuters

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The Ho Chi Minh City Stock Exchange building. Photo courtesy of Tuoi Tre The Ho Chi Minh City Stock Exchange building. Photo courtesy of Tuoi Tre
Vietnam's benchmark VN Index closed 1.01 percent lower on Friday in heavy trading as two exchange-traded funds completed their quarterly reviews.
Hanoi-based Vietcombank, Vietnam's biggest lender by market value, led the decliners with a 6.91 percent fall, with volumes at a five-year high of 4.9 million shares, Reuters data showed.
Top insurer Baoviet Holdings dropped 6.97 percent to its lowest close in two years, while food producer Masan Group fell 1.9 percent to the lowest since February 2011.
Market Vectors Vietnam and db x-trackers FTSE Vietnam, the two major exchange-traded funds (ETF) on the Vietnamese market, had their last review trading sessions on Friday, which analysts said contributed to a 60-percent surge in volume.
Both ETFs have Masan and Vietcombank shares in their portfolios, while Market Vectors Vietnam also has Baoviet as of Nov. 30.
Here is a snapshot of the VN Index at the close (0801 GMT).
VN Index
523.09
PREV. CLOSE 528.45
% CHANGE -1.01%
HIGH
533.2
LOW 522.1
Change (%) 1-mnth -11.073
Change (%) 3-mnth -14.185
Change (%) 1-year 4.592
52-week high 644.56
3-Sep-14
52-week low 499.49
31-Dec-13
 
 

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