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.


Other news


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

BLF & LUT fined VND 145mln

The State Securities Commission of Vietnam (SSC) has just issued administrative fines worth VND 145 million to Bac Lieu Seafood Corp (BLF) and Luong Tai Investment & Construction Corp (LUT).