January 23, 2018 / 2:25 PM / a year ago

UPDATE 1-Vietnam's main stock exchange to close for second day on technical issues

* First shut down in nearly a decade

* Market remains close for the second day

* Vietnam among the fastest rising stock markets in 2017 (Updates with exchange remains closed for the second day)

HANOI, Jan 23 (Reuters) - Vietnam’s main stock exchange will close for a second day on Wednesday, after it was shut down for the first time in almost a decade on technical issues, the bourse said on Tuesday.

The trading system of Ho Chi Minh Stock Exchange, Vietnam’s benchmark stock market that surged nearly 50 percent last year, developed a technical issue on Monday which prevented it from retrieving a closing price for the index the following day.

The exchange was closed on Tuesday and will remain shut on Wednesday after making checks and fixing the issues, it said in a statement on its website, without giving a date of reopening.

“To ensure the safety and accuracy of the trading system, the Ho Chi Minh Stock Exchange continues to temporarily postpone trading on Jan. 24, 2018 to test with member securities firms before officially reopening the market,” the exchange said.

Vietnam closed its stock market for three days in May 2008 due to a technical problem.

The Hanoi-based derivative market and the smaller bourse Hanoi Stock Exchange were functioning as normal.

“I truly would like the investor to calmly acknowledge, objectively assess the impact of this technical problem on the market and to investment activities,” chairman of Vietnam’s State Securities Commission Tran Van Dung told reporters. (Reporting by Mai Nguyen; Editing by Jacqueline Wong, William Maclean)

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