The Ho Chi Minh Stock Exchange's VN Index edged up by midday as investors sought bargains in expectation of government measures to support the property market and lower interest rates, analysts said.
The index rose 0.67 percent to 386.37 points at the close of the morning session.
'Shares rose as investors bought on dips after the Finance Ministry said it would complete a package of fiscal measures to support the property market,' said Giang Trung Kien, head analyst at FPT Securities said.
Expectations that donors will continue their aid to Vietnam in 2013 also supported the market, Kien said.
It is tough for the index to pass a strong resistance threshold of 395 points in the short term as several investment funds were under pressure to divest, Kien said.
Investors were buying on hopes the central bank would lower the cap on dong deposit rates and impose a ceiling on lending rates, which are feasible moves in the short term to support the economy, FLC Securities head analyst Nguyen Tuan said.
1220 (0520 GMT)
(Reporting by Vu Duy; Editing by Ho Binh Minh and Prateek Chatterjee) Keywords: MARKETS VIETNAM STOCKSNEWS/MIDDAY
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