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VCSC Daily - VNI snaps back 2% – SBV cuts deposit rates, devalues Dong 1% - Credit improves – CSM FY12 dividend dates

VNI snaps back nearly 2%, despite ETF redeems. The global rally overnight from the US stimulus bets and decreased Chinese money market rates seemed to have provided domestic investors with comfort. Concerns from additional ETF redemptions last night were further kept down as the VNI approached support level 471 and investors started to bottom fish.