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Longer Tet for market

Update: January, 22/2009 - 00:00

Longer Tet for market

(23-01-2009)

HCM CITY — The State Securities Commission (SSC) is lengthening the suspension of securities trading to February 2, instead of the originally planned January 30.

According to the Viet Nam Association for Securities Business, the originally planned date for resuming trading was not considered a good day to begin New Year business as it is the last day of the month and the week.

"Many enterprises and investors intended to take rest for the whole next week. If the trading floor is reopened on January 30, trading would be poor, and securities firms would suffer significant losses," said Nguyen Thanh Ky, the association’s general secretary.

"We lengthen the trading suspension because of investors’ beliefs, and the benefit to securities firms," said an anonymous official from the SSC. This official also expected that with a longer holiday, investors would have a better mood to deal with the present global economic downturn and local economic challenges. — VNS

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