Two investors look at stock prices on a laptop in HCM City. — Photo courtesy of Vietnambiz.vn The chronic congestion on the Ho Chi Minh City Stock Exchange (HoSE) has caused losses for retail investors, making them insecure. Instead of congestion, and errors, only in the afternoon or near the close like previously, errors are now occurring even in the morning. For example, on March 5, just after the market opened, the security live board froze and failed to show realtime prices. Nguyen Kha, a veteran investor in HCM City, said he punched in an order to sell HBC shares on March 3 when it jumped to above VND18,500 (US$804 million), but only half his order was matched, and in the next few days had to sell at below VND18,000 since he needed money, losing VND1,000 per share. Another investor on HoSE said he has been in a constant state of insecurity recently and cannot do any other work after placing orders since one needs to watch the screen to see if the order is matched. This insecurity has caused many investors to switch to trading on the Hanoi Stock Exchange (HNX) and UPCoM, causing shares there to skyrocket in terms of both price and trading. On March 4 UPCoM saw trading worth VND1.7 trillion, twice the normal average. Drastic solutions To tackle the overload at HoSE, the State Securities Commission (SSC) said it is speeding up installation of a new trading system provided by the Korean Exchange (KRX). Last week it instructed the temporary transfer of shares from HoSE to HNX to much acclaim from both investors and analysts, but a difficult task since listed companies need to get approval from their shareholders. Besides, it could take securities companies one to two months to meet the technical changes involved in identifying the shares transferred to the HNX. Some need even six to nine months. Dr Nguyen Van Thuan of the University of Finance and Marketing told Thanh Nien (Youth) newspaper however that since this solution has the least …
Ho chi minh city flood
Bustle at Ho Thi Ky flower market, increased online orders on Int’l Women Day
Ho Thi Ky flower street in HCMC’s District 10 became hustle and bustle and the number of online flower orders increased significantly on the day. Roses and flowers for the special day are in high demand. This year, the price of fresh flowers market is higher than the previous year. From the afternoon of March 6, many trucks carrying roses flocked to flower stores on Ho Thi Ky Flower Street, throng of flower lovers were busy at shopping, making the street more crowded than usual. This year, stores have a variety of flowers with different types to satisfy customers’ tastes such as Da Lat roses, hydrangeas, flowers imported abroad such as Ecuadorian roses, Dutch marbles, wax flowers, Persian buttercups, ... Especially, Diem Chi flower store has peony chrysanthemum imported from Malaysia - a new type of flower chosen by many customers. Besides, Ecuardo roses and Dutch marbles are also popular. Manager of Diem Chi Flower Store Truong Thi My Hue said that this year, the store has a new type of flower called peony chrysanthemum, which is the best-seller in the store and is out of stock on March 5. However, she added that the price of Ecuardo rose this year is higher than last year because of the Covid-19 pandemic and flowers had been sold out in Tet holiday (the Lunar New Year) before. Presently, the not many flowers in full bloom are left, so the price is slightly higher than usual. The price of peony chrysanthemum imported from Malaysia is currently ranging from VND45,000 to 50,000 a flower while Da Lat peony daisy is VND 30,000 a flower, Ecuardo rose is VND 380,000 a bunch of 10 flowers and a bunch of 50 Da Lat red rose costs VND 200,000. Elsewhere in the city, employees of the Love Flower Store in District 3 were busy with soaring orders; flowers are at a high demand; therefore, flower store florists work hard to promptly deliver fresh bunches of flowers to customers. Da Lat rose, sunflower, lisianthus, different kinds of daisy, carnation have been …
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HCM City continues closure of discos, bars, karaoke parlors
Ho Chi Minh City will continue the closure of discos, bars, karaoke parlors to ensure safety amid COVID-19 pandemic, while other service business types will be resumed from March 9. Discos, bars, karaoke parlors in HCM City will continue to be closed (Photo: VNA) Under a dispatch issued by the Chairman of the city People’s Committee on March 8, the city leader asked heads of departments, sectors and agencies to localities to continue strictly implementing directions of the Prime Minister, the National Steering Committee on COVID-19 Prevention and Control as well as the Health Ministry and the city in pandemic prevention and control measures, including the “5K message”. Locals are advised to strengthen COVID-19 prevention and control measures, especially in wearing facemask in public places, washing hands, and keeping safe distance. The city leader asked the Department of Information and Communications to strengthen communications on measures to prevent the spreading of COVID-19, especially the “5K message” - khau trang (facemask), khu khuan (disinfection), khoang cach (distance), khong tu tap (no gathering) and khai bao y te (health declaration). So far, HCM City has seen 210 COVID-19 infections, including 68 domestically-transmitted cases. The city has spent 26 days without any new infections./.VNA …
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