Vietnam index up 0.6 pct by midday, blue chips lead

Vietnam's benchmark VN Index rose 0.56 percent by midday on Friday as investment funds bought blue chips to raise their net asset value by the year end, an analyst said.

The index rose as investment funds were pushing up prices of large-cap stocks to increase the value of their net assets before the closing of their financial statements on Dec. 31, said analyst Nguyen The Minh at Viet Capital Securities.

PetroVietNam Gas, the country's largest listed firm, led the rise, climbing 1.5 percent, followed by dairy product maker Vinamilk rising 1.48 percent.

Hanoi-based lender Vietcombank gained 0.37 percent, while top insurer Baoviet Holdings edged up 0.26 percent.

Here is a snapshot of the VN Index at midday.