Reuters: Financial Services and Real Estate: Vietnamese stocks dip at midday, volume rises

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Vietnamese stocks dip at midday, volume rises May 3rd 2012, 05:31 HANOI | Thu May 3, 2012 1:31am EDT HANOI May 3 (Reuters) - Vietnamese stocks ended the morning session down on Thursday in higher volume as traders further took profit from shares of real estate and mining firms, a broker and an analyst said. VN Index -1.38 percent at 465.93 points. Volume of shares traded: 78.09 million shares. Value of shares traded: 1.14 trillion dong. Largest gainers, largest losers HNX Index -1.0 percent at 78.56 points. Volume of shares traded: 63.70 million shares. Value of shares traded: 602.74 billion dong. Largest gainers, largest losers Broker/analyst comments Giang Trung Kien, head of analysis, FPT Securities: "Stocks dropped due to profit taking activity, while there wasn't any negative news that could affect the market. "Liquidity was good. Stocks could correct through the end of this week." Doan Tran Phuong Phi, head of brokerage, Ho Chi Minh City Securities: "Stocks fell this session as most investors booked profit, particularly in shares of real estate and mining firms, despite good news that the Finance Ministry was considering measures to support enterprises. "The information was priced in. If stocks continue falling in the next two sessions, pressure from margin calls will rise." ($1=20,840 dong) (Reporting by Vu Duy) Link this Share this Digg this Email Reprints

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