VIETNAM EXPORT IMPOR

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MARKET COMMENT: Vietnam Shares End +0.8% On Buying From Foreign Funds

02/01/2013 | 02:52am


0736 GMT [Dow Jones] Vietnam's shares finish 0.8% higher at 483.42, off an intraday low of 473.23, led by buying from foreign funds during the last minutes of trading, amid local cashing out before the Lunar New Year holiday, traders say. "Sentiment has become very strong because some foreign institutions are optimistic that the government will continue to support companies this year," says a trader with ACB Securities. He predicts that selling among local players will continue next week, but any downside will be limited because of foreign buying support. Volume is heavy, at 76.8 million shares valued at VND1.193 trillion. Among the most actively-traded stocks, Itaco (>> Tan Tao Investment Industry Corporation) ends up 2.4% at VND8,700, Ocean Group (OGC.VH) closes 6.0% higher at VND14,000 and Eximbank (>> Vietnam Export Import Commercial JS Bank) finishes down 1.2% at VND16,400. Traders tip resistance for the key index at 485 Monday. (phammuoi.nguyen@dowjones.com)




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