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First trading session of Ho Chi Minh Stock Exchange opens after Tet holiday

HCM City: The Ho Chi Minh Stock Exchange (HoSE) began its first trading session following the Tet (Lunar New Year) festival with a gong-beating ceremony on February 19, the 10th day of the lunar year. In his remarks, Deputy Minister of Finance Nguyen Duc Chi noted with pleasure achievements in the domestic stock market and the HoSE in particular last year, saying despite global and regional economic uncertainties, the Vietnamese stock market still experienced growth in terms of index, liquidity, and capitalisation. As the economic situation is forecast to continue developing unexpectedly this year, the official suggested the State Securities Commission (SSC), the Vietnam Exchange (VNX), the HoSE and other relevant sides work to develop the market sustainably. He raised some solutions such as perfecting institutions, removing obstacles, ensuring the smooth operations of the trading, depository, and payment systems in the market, and optimising information-technology in operations. The official also emphasi sed the need to better market management and supervision, saying violations should be handled strictly to protect legal rights and interests of investors. According to Chi, the ministry will organise a workshop in Q1 to seek solutions for the development of the market in 2024 and beyond. Nguyen Thi Viet Ha, Acting Chairwoman of the HoSE, highlighted the exchange's operational principles of safety, efficiency and sustainability, saying the number of listed firms committing to good corporate governance in 2023 increased by 12.7% from the previous year. In 2024, the HoSE will focus on ensuring the safe and smooth operation of the new IT system, raising the quality of listed products, and improving the capacity of its employees, she added. At the end of the last trading session of 2023, the VN-Index, which tracks the performance of the HoSE, closed at 1,129.93 points, up 12.2% as compared with the corresponding time in 2023. As of December 29, 2023, market capitalisation on the HoSE rose 13.4% to 4.56 quadri llion VND (185.83 billion USD). In the year, the HoSE successfully conducted 249 trading sessions totaling 193 billion shares worth nearly 3.8 quadrillion VND, up 12% in volume but down 11% in value year-on-year./. Source: Vietnam News Agency