Hanoi (VNA) - The trading band for transactions of stocks and capital fund certificates on the Ho Chi Minh City bourse will increase from 1 percent at present to 2 percent, from April 7.
The rate applicable to the Hanoi floor will increase from 2 percent to 3 percent, announced the State Securities Commission (SSC) at a press briefing in Hanoi on April 3.
SSC Market Promotion Department Director Nguyen Son said the adjustment was made as part of a plan towards restoring the old trading band.
If the market reacts positively, the trading band will be further broadened, confirmed the senior expert. It was one of the measures now under consideration to recover the declining stock market.
Son explained of the SSC’s recent decision to narrow the band as a psychological tool against the dumping of shares in an effort to stabilize the market.
“The remedy has made positive impact on the market, thus allowing the SSC to continue with other tools under the Prime Minister’s directives on necessary supports for the stock exchange. The SSC will broaden the trading band from April 7 in order to increase the market liquidity,” Son concluded.--Enditem
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