A top executive at HoSE resigns to study abroad.

The Ho Chi Minh City Stock Exchange (HoSE) has just announced Decision No. 66/QD-CT regarding Mr. Nguyen Vu Quang Trung's resignation from the position of Deputy General Director of HoSE to pursue a fixed-term study abroad. The decision takes effect from November 4th, based on the approval of the Vietnam Stock Exchange (VNX).

Mr. Trung, born in 1974, holds a Master's degree in Financial Economics from the University of NewSouth Wales (Australia). He was appointed by the Ministry of Finance as a member of the Board of Directors and Deputy General Director of HoSE in August 2017.

He has work experience at the State Bank of Vietnam (1996-1997), the State Securities Commission (1997-2004), and the Hanoi Stock Exchange (2004-2017). His previous positions included Deputy General Director of HNX, Deputy Director of the Securities Trading Center, and head of various operational departments.

Thus, with Mr. Trung's departure, the HoSE executive board now consists of only two members: Ms. Tran Anh Dao - Deputy General Director in charge of the executive board, and Ms. Ngo Viet Hoang Giao - Deputy General Director.

a trung hose.png — Deputy General Director of HoSE Nguyen Vu Quang Trung. (Photo: HSX).

Earlier on September 22nd, rumors circulated in the market regarding the resignation of senior executives, causing stock prices to plummet. The VN-Index at one point dropped 38 points in the morning, then gradually recovered and closed the session down nearly 20 points.

Later that day, the country's largest stock exchange confirmed that this information was inaccurate and advised investors to exercise caution and carefully verify official information on the exchange's official portal.

HoSE, formerly the Ho Chi Minh City Stock Exchange, was transformed according to Decision 599/QD-TTg dated May 11, 2007, of the Prime Minister . It is a state-owned legal entity organized as a single-member limited liability company.

The exchange's operations are heavily dependent on liquidity in the stock market, as its main source of revenue comes from transaction fees. In 2022, the exchange recorded a 23% decrease in total revenue to VND 2,500 billion due to the market downturn. Net profit after tax reached nearly VND 1,946 billion, a 23% decrease compared to the record profit of 2021.

HoSE plans to develop a strategic plan for the period 2022-2026, with a focus on 2023, in line with the development strategy of the Vietnam Stock Exchange (VNX). The exchange will coordinate the implementation of the roadmap for receiving listed companies from HNX according to the regulations on restructuring the securities market.

The agency also aims to organize stable and secure securities trading operations and deploy the KRX information technology system on schedule. HosE announced that this project will "go live" on December 11th and will officially be operational by the end of 2023.

Stocks are being sold off, HoSE speaks out against rumors of leadership resignation . HoSE - the largest stock exchange in the country - affirms that the circulating information about the resignation of its leadership is false. The testing of the KRX system operation is still proceeding as planned.

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