The Ho Chi Minh Stock Exchange (HOSE) has decided to close its office
Vietnam’s Ho Chi Minh Stock Exchange (HOSE) has decided to close its office while still keeping the trading operations running after a slew of COVID-19 cases were detected among its stay-in staffers.
The country’s main exchange is currently listing 469 stocks with a combined market cap of over VND4,920 trillion (US$214 billion), or 78 percent of Vietnam’s 2020 GDP.
The market announced on Monday that it has detected several coronavirus-positive cases after screening the ‘three-on-the-spot’ workers, also known as those working, having meals, and resting after work on the premises to maintain their duty while also reducing COVID-19 transmission risks.
The HOSE management has immediately informed authorities of the cases and rolled out safety measures as prescribed by current guidelines, including an office closure that started on Monday.
All in-person reception at the premises will be halted, while requests from company listings, stock trading firms, and related stakeholders will be handled online.
Meanwhile, stock trading operations on HOSE will be kept running as prepared in the stock market’s COVID-19 scenarios.
According to the State Securities Commission of Vietnam, HOSE has planned out responses for all conceivable circumstances, and it is capable of switching its control center to a new server in the system rather than being dependent on one physical location.
The stock exchange has prepared a secondary location in case of contingency, while all of its staffers have been put on rotating shifts since the fourth outbreak started in Vietnam in late April.
The market will be kept up and running in all scenarios, a State Securities Commission representative declared.
Vietnam had documented 215,560 COVID-19 cases by Monday morning, with 71,497 recoveries and 3,397 deaths, according to the health ministry.
The country has recorded 211,630 local infections in 62 provinces and cities, including 124,153 cases in Ho Chi Minh City, since the fourth wave began on April 27.
