HoSE encounters technical errors, VN-Index loses nearly 11 points

SGGP
Vietnam stock market fluctuated heavily in the trading session on December 24.
The liquidity in the market continued to soar. In just one hour after the opening of the trading session, the trading value on the Ho Chi Minh Stock Exchange (HoSE) exceeded VND3.6 trillion with 196 million shares. Therefore, the price list on the HoSE continued to encounter technical errors, with points and liquidity of the HoSE being updated sluggishly. There was no improvement in the afternoon session. This situation was also recorded in recent trading sessions.

Responding to the press at the meeting of the Securities Journalists Club in the afternoon of December 23, Mr. Le Hai Tra, Acting Chairman of the Board of Directors of HoSE, said that these phenomena were still being monitored and supervised by the IT Department of the HoSE together with securities company. The HoSE has also been collaborating with Internet service providers to find out why orders to the HoSE showed signs of congestion. According to Mr. Tra, currently, some securities companies are using automated trading systems. Their algorithms can also make the number of orders unexpectedly spike, leading to uncontrollability, affecting the system.

Regarding the trading session on December 24, heavy sell-offs caused several pillar stocks to plunge in the morning. The VN-Index sometimes fell more than 32 points. However, after that, losing momentum was remarkably narrowed when the bottom-catching demand increased strongly.

At the end of the trading session, the VN-Index lost 11.38 points, or 1.05 percent, to 1,067.52 points, with 88 gainers, 367 losers, and 35 unchanged stocks.

Closing the trading session on the Hanoi Stock Exchange, the HNX-Index dropped 2.62 points, or, 1.38 percent, to close at 187.63 points, with 72 winners, 122 losers, and 46 unchanged stocks.

Total trading volume on the market reached 973 million shares, worth nearly VND17 trillion.

By Nhung Nguyen – Translated by Thanh Nha

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