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
Hanoi (VNA) – Chairman of theState Securities Commission (SSC) Tran Van Dung has expressed his hope that theHo Chi Minh Stock Exchange (HOSE) will resume operation on January 24 followingthe technical breakdown a day earlier.
Following the breakdown at 2:31pm on January22, 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 thesystem – to analyse the causes of the problem and fix errors.
He said a similar incident happened in May2008.
In foreign markets, the New York and Tokyobourses also faced technical faults and suspended operations in 2005. The Nasdaqstock exchanges faced the problem in 2013 while the Indonesian and Indonesianbourses had errors in 2017.
Dung noted that the VN-30 Index saw nofluctuation when the HOSE paused operations as investors had to be cautious wheninvesting in VN-30 Index futures in the Hanoi Stock Exchange.
Once the HOSE resumes, the final closingprice on January 22 will be used as a reference price.
According to him, Vietnam’s securitiesmarket is performing well, supported by stable macro-economic development andstrong foreign investment inflows. Therefore, investors should keep calm andmanage risks so as not to miss opportunities./.
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Illustrative image (Source: VNA) 
