In 2021, HOSE experienced many network problems, resulting in transaction deadlock and causing frustrations for investors. The stock exchange once had to stop operation to have problems fixed.

It happened on June 8, 2021. The VN Index was suspended for two hours. When the stock market was sliding, many investors fell into a state of panic, and any attempt to correct or cancel orders was not allowed.

Closing that trading session, the VN Index dropped by 38.49 points, or 2.86 percent, while liquidity was VND30 trillion. The red color then spread to the Hanoi bourse and HNX 30 when the indexes of the two bourses decreased by 12.25 points and 25.75 points, respectively.

Analysts then warned that the suspension of transactions at HOSE would make foreign investors feel insecure as they could buy shares but could not sell shares.

A similar problem occurred on January 10, 2022. Explaining this, HOSE blamed the instability of the Gateway-UDP system.

At that session, the stock market fell sharply, speculative stocks sold strongly, and many investors panicked when seeing electronic boards pending. 

Closing the January 10 trading session, the VN Index dropped by 25 points to 1,503.71 points. More than 1.38 billion were matched on HOSE. 

In the face of the order congestion which caused many problems, Minister of Finance Ho Duc Phoc on June 10, 2021 requested the ministry’s inspectors to inspect HOSE.

HOSE has once again become the highlight of newspapers recently when the Central Inspection Commission announced the expulsion of Le Hai Tra, General Director of the HCM City Stock Exchange (HOSE) from the Party, and disciplined a number of leaders and former leaders of the State Securities Commission (SSC).

2021 was the busiest year in the 21-year history of the Vietnamese stock market. The VN Index for the first time exceeded the 1,500 point threshold. 

HOSE reported that it obtained profit of over VND2.5 trillion in 2021 and revenue of VND3.237 trillion, three times higher than that in 2020.

Of this, revenue from professional activities accounted for 92.23 percent (VND2.985 trillion), twice as much as the same period last year. Meanwhile, revenue from service provision reached VND110.7 billion, up by 30.87 percent.

The prosperous stock market allowed securities companies to obtain high revenue and make fat profits.

Techcombank Securities reported revenue of VND5.195 trillion in 2021, up by 59 percent, and pre-tax profit of VND3.81 trillion, up by 42 percent compared with 2020.

Meanwhile, SSI reported a pre-tax profit increase of 112.6 percent in Q4 2021 to VND1.264 trillion. 

Ngoc Cuong