Technical issues hamper trading on main stock market

By Minh Son   March 6, 2024 | 03:39 am PT
Technical issues hamper trading on main stock market
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Stock investors in Vietnam were unable to place or modify trade orders on Wednesday afternoon due to a technical difficulty on the main bourse Ho Chi Minh Stock Exchange (HoSE).

Duy Anh in Hanoi’s Cau Giay District wanted to sell some of his shares after the lunch break but the system kept returning errors.

He had the same challenges using 4G on his mobile phone. After making a phone call to his broker Anh found out that there was a systemic error that affected many brokerages.

FPT Securities at 1:46 p.m. informed its customers that its system was having trouble communicating with that of HoSE.

"Our technical department are working with HoSE to resolve the issues."

Other brokerages gave similar notices and advised their customers to not place orders until the issues are fixed.

As of 2:00 p.m. some investors were able to trade while others still had difficulties.

As of 2:30 p.m. most investors were able to trade normally and some brokerages announced that the problems have been fixed.

A representative of HoSE said that the exchange could not make an immediate comment and would inform the public once it completed a technical review.

Technical issues on HoSE last happened at the end of 2020 when a surge in number of investors overloaded its outdated system. Many investors at the time were frustrated with the exchange as they were unable to make timely trades.

HoSE than partnered with tech giant FPT to resolve the issue and upgraded its system.

The exchange this month is switching to a completely new system developed by the Korea Exchange which offered new features such as day trading.

Trading volume on HoSE surged 55% Wednesday morning to VND15.6 trillion ($632 million). But due to technical difficulties in the afternoon the exchange closed the day at VND24.89 trillion, up 2%.

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