May 30, 2012 / 5:32 AM / 5 years ago

Vietnamese stocks up at midday as blue chips rally

HANOI, May 30 (Reuters) - Vietnamese stocks were up in the morning session on Wednesday, led by several blue-chip stocks, but investors were concerned about weak economic growth and corporate performance, analysts said.

VN INDEX

Up 1.13 percent at 436.32.

Volume of shares traded: 32.10 million.

Value of shares traded: 496.18 billion dong.

Largest gainers, largest losers

HNX INDEX

Down 0.32 percent at 75.54.

Volume of shares traded: 20.31 million.

Value of shares traded: 211.72 billion dong.

Largest gainers, largest losers

Analyst comments

Tran Minh Hoang, analyst, Vietcombank Securities:

"A technical recovery in the session was in place thanks to tight supply and gains by major blue chips such as Bao Viet , Vietcombank and Petrovietnam Gas Corp .

"Investors are mainly concerned over low economic growth in the first quarter and difficulties faced by businesses.

"The prospect will be positive in the third quarter, long-term investors should disburse now."

Nguyen Phuc Thinh, manager of research and corporate finance, Hoa Binh Securities:

"The 430-point support threshold is relatively firm, supply and demand are balanced. The market could continue moving sideways in the short term." ($1=20,835 dong) (Reporting by Vu Duy; Editing by Ho Binh Minh and Anand Basu)

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