Securities trading uninterrupted during COVID-19 fight: SSC

Trading on the Vietnamese securities market was essential and would not be disrupted under any circumstances during the fight against COVID-19, the State Securities Commission (SSC) said on March 31.

securities trading uninterrupted during covid-19 fight: ssc hinh 0
The State Securities Commission (SSC)'s head office in Hanoi (Photo nhadautu.vn)

Trading activities would be thorough and secure, the agency said in a statement, adding that securities trading was one of the essential services regulated by the Prime Minister’s Directive 16 dated March 31 to enhance the fight against the spread of the coronavirus.

Directive 16 was issued on March 31 to launch a 15-day nationwide social distancing order, starting from 0:00 on  April 1, as the Government advised people to stop travelling and grouping to prevent the coronavirus from spreading.

The SSC also asked the two stock exchanges, the Vietnam Securities Depository (VSD), securities companies, fund management firms, and other market members to keep innovating and using modern technologies to adapt to comply with the Government’s request.

Stock exchanges, market regulators, securities companies and fund management firms were also required to be prepared for any possible scenarios during the COVID-19 fight.

They were also asked to take drastic measures to make sure employees, investors and customers were safe and not infected by the virus.

Since January-end, the benchmark VN-Index on the Ho Chi Minh City Stock Exchange has lost 33.2%, and billions of dollars have been wiped off the market’s total capitalisation as the country struggles with the spread of the coronavirus.

A number of securities companies have switched to online working mode and suspended direct contact between their employees and customers to prevent a potential virus breakout.

VNS/VNA