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HOSE to launch odd-lot trade from mid-Sept

The Saigon Times

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HCMC – The Vietnam Stock Exchange (VNX) has approved the Hochiminh Stock Exchange’s proposal (HOSE) to launch odd-lot trade from September 12 this year.

HOSE in its proposal sent to VNX said that it will inform the local stock market, news outlets, securities companies of the official date and the test date of odd-lot transactions on September 5.

The odd-lot trading feature will be added to the HOSE trading system on September 9. The following day, the HCMC bourse will test the system for the last time.

Earlier, the State Securities Commission of Vietnam approved in principle VNX’s plan to issue a decision on amendments and supplements to its securities listing and trading regulations.

VNX will facilitate the amendments to ensure HOSE can start offering odd-lot trade as planned.

In related news, the Vietnam Securities Depository has announced the transfer of stock registration and depository data of FLC Faros Construction from HOSE to the Unlisted Public Company Market (UPCoM).

More than 567 million ROS shares of FLC Faros, a subsidiary of FLC Group, will be transferred to UPCoM from HOSE starting today, August 30.

The move came after FLC Faros was forced to delist its ROS shares from the HCMC bourse as the company was found to have violated regulations on information disclosure and other issues.

This is the first time that a stock in the VN30 basket has been forced to delist.

Wrapping up the trading session today, the benchmark VN-Index on HOSE added 8.59 points, or 0.68% against the previous session at 1,279.39, with 226 stocks rising and 208 others falling. More than 526 million shares worth over VND13.8 trillion were transacted on the southern bourse, down 38% in volume and 33% in value versus yesterday.

Lender VCB, the biggest-cap stock on the HCMC market, was hailed as the top contributor of the main index’s growth. VCB advanced 4.2% to its intraday high of VND86,000, with over 2.5 million shares changing hands.

Meanwhile, stronger selling prompted the HNX-Index on the Hanoi bourse to reverse course to close almost at its intraday low. With 92 advancers and 70 decliners, the index shed 1.69 points, or 0.57%, against the session earlier at 393.86.

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