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Rumor of HoSE general director arrest rejected

The Saigon Times

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HCMC – The Hochiminh Stock Exchange (HoSE) has denied a rumor circulating on social media that its general director Le Hai Tra has been detained.

HoSE wrote on its website that the rumor has sparked public concern and affected investor sentiment and HoSE’s prestige. Therefore, HoSE called on investors to stay calm and refrain from spreading any unsubstantiated information on social media.

Local stock prices have plunged over the past week following the news about FLC Chairman Trinh Van Quyet’s unannounced sale of 74.8 million FLC shares and the selloff of real estate and construction stocks after Tan Hoang Minh Group proposed cancelling a contract to buy a land lot in the Thu Thiem New Urban Area in HCMC.

After seven straight losing sessions, the VN-Index rose 3.85 points, or 0.27%, at 1,442.79 points today, January 19.

Turnover on the southern bourse contracted 13.74% in volume and remained the same in value as yesterday at 637.63 million shares worth nearly VND23 trillion. There were more than 79.63 million shares valued at nearly VND6.8 trillion traded in block deals.

Stocks in the VN30 basket were also transacted more positively as only 10 stocks were traded below their reference prices and the VN30-Index closed up five points.

On the Hanoi Stock Exchange, the fall of large-cap stocks THD and CEO sent the market down.

At the close, the HNX-Index lost 11.89 points, or 2.82%, at 409.31 points. Over 98.81 million shares worth VND1.72 trillion were traded on the bourse.


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