In partnership with the Korean Stock Exchange, HOSE is introducing the KRX system—a technological platform designed to bolster management and oversight of Vietnam’s securities trading.

This system will apply modern technology to enhancing the management of stock trading in Vietnam, enabling same-day trading settlement (T+0), facilitating short selling, and streamlining payment processes.

These upgrades aim to tackle market challenges head-on and position Vietnam’s securities market for heightened recognition.

On August 21, HOSE convened a session with key stakeholders to discuss the impending launch of the KRX system, the Vietnam News Agency reported.

A representative from the stock exchange said that the Ministry of Finance had issued directives ushering in the operation of the KRX system in 2023.

While market participants and securities firms are at varying levels of readiness, regulatory authorities are poised to facilitate a seamless transition.

During the initial phase of implementation, the KRX system will prioritize essential functionalities, gradually incorporating advanced features over time.

Collaborative efforts between the Vietnam Stock Exchange, HOSE, and the Hanoi Stock Exchange are underway to align the legal frameworks with the deployment timeline of the KRX system.

Regarding stock news today, August 23, the VN-Index of the HOSE lost 7.93 points, down 0.67% versus the previous session, closing at 1,172.56 points with 176 winners and 281 losers.

Trading volume and value continued to slide with 747.2 million shares worth nearly VND17.2 trillion, down 28.5% and 20.2%, respectively. There were 93.5 million shares valued at over VND2.3 trillion transacted through block deals.

TCB was the only bank stock to stay in the green, with a modest 0.3% gain to reach VND33,200 per share. Major decliners included STB, down 3.9% to VND30,900 per share, and VCB, slipping 2.4% to VND86,300 per share.

Among securities stocks, only TVS, ORS and FIT gained, while VND led the roster of decliners with a 2.1% drop to VND20,550 per share. SSI lost 1% to VND30,400 per share and recorded a high trading volume of around 32.9 million shares, making it the second most actively traded stock on bourse.

Lender STB took the lead by liquidity with a matching volume of over 38.6 million shares, but it decreased by 3.9% to VND30,900 per share.

The HNX-Index of the Hanoi Stock Exchange saw 76 advancers and 95 decliners, edging down 1.58 points, or 0.66%, to 238.07 points.

There were 71.5 million shares valued at nearly VND1.3 trillion changing hands on the northern market.

Source: Saigon Times