HANOI, Feb 27 (Reuters) - Vietnam's benchmark VN Index
<.VNI> closed 0.7 percent lower on Friday, with most blue-chips
heading south on the last session of the week in volatile market
and near a strong resistance level.
Around 40 percent of equities lost ground, led by
Hanoi-based Vietcombank <VCB.HM> , the country's top lender by
market value, with a 2.54 percent fall, slipping from its record
high closing level on Thursday.
Food producer Masan Group <MSN.HM> lost 1.72 percent, while
Mobile World Investment Corp <MWG.HM> , the country's largest
mobile phone retailer, tumbled 5.63 percent, after closing at a
record high in the previous session.
The index has been volatile ever since it hit a three-month
closing high on Tuesday, and analysts said liquidity was not
solid enough for a strong rebound. Trading volume fell 13
percent from Thursday to 78.3 million shares.
Investors should limit buying and reduce risky shares in
their portfolios, BIDV Securities said in a note to clients.
"The 600 points is considered by many a strong resistance
but if foreign investors continue to keep keep their buying, it
is possible for the VN Index to hover around the area of 590-600
points," the brokerage said.
Following is a snapshot of the VN Index <.VNI> at the close
VN Index 592.57
PREV. CLOSE 596.72
% CHANGE -0.7%
Change (%) 1-mth 2.769
Change (%) 3-mth 3.59
Change (%) 1-yr 1.172
52-week high 644.56 3-Sep-14
52-week low 508.51 13-May-14
(Reporting by Mai Nguyen; Editing by Biju Dwarakanath)
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Keywords: MARKETS VIETNAM STOCKS/