HOSE expected to resume on January 24 after technical breakdown

Chairman of the State Securities Commission (SSC) Tran Van Dung has expressed his hope that the Ho Chi Minh Stock Exchange (HOSE) will resume operation on January 24 following the technical breakdown a day earlier. 

Illustrative image (Source: VNA)

Illustrative image (Source: VNA)

Following the breakdown at 2:31pm on January 22, the HOSE notified the Finance Ministry and the SSC and suspended trading. It also worked with experts of the Stock Exchange of Thailand – provider of the system – to analyse the causes of the problem and fix errors. 

He said a similar incident happened in May 2008. 

In foreign markets, the New York and Tokyo bourses also faced technical faults and suspended operations in 2005. The Nasdaq stock exchanges faced the problem in 2013 while the Indonesian and Indonesian bourses had errors in 2017. 

Dung noted that the VN-30 Index saw no fluctuation when the HOSE paused operations as investors had to be cautious when investing in VN-30 Index futures in the Hanoi Stock Exchange. 

Once the HOSE resumes, the final closing price on January 22 will be used as a reference price. 

According to him, Vietnam’s securities market is performing well, supported by stable macro-economic development and strong foreign investment inflows. Therefore, investors should keep calm and manage risks so as not to miss opportunities.

Vietnamplus

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