Vietnam index up 0.5 pct at midday, banks lead

HANOI, March 7 (Reuters) - Vietnam's benchmark VN Index rose 0.5 percent at the break on Friday, led by the banking sector, while strong selling might emerge when the index approaches the 595-point resistance level, an analyst said. Shares in Ho Chi Minh City-based Sacombank climbed 2.99 percent after a state-run newspaper quoted a Sacombank executive on Friday as saying the bank planned to merge with Phuong Nam Bank, or Southern Bank. "While buying demand seemed solid at the moment, f