Stocks fall 30% after hot streak, VIX speaks out about spreading rumors

After information spread on social networks related to the business, VIX representative confirmed that this information was false.

VIX's total assets increased sharply thanks to increased margin debt - Photo: VIX Website

Stocks fall sharply, VIX speaks out on rumors

During the trading session on October 31, the stock market was under great selling pressure, VN-Index lost nearly 30 points. The negative performance of Gelex stocks contributed to the index's decline.

Of which, GEX stock of Gelex Group recorded the second consecutive floor price drop, closing at VND44,050/share, losing 21% in just one month.

VIX Securities' VIX stock is not "inferior", with a 30% decrease after peaking at nearly VND40,000/unit on October 16.

On the same day, VIX representative said that they received feedback from a number of investors regarding information spread on a number of forums and social networking sites related to businesses and stocks.

"We confirm that this information is false. This information has affected the psychology of investors and customers, causing a loss of confidence in the image and reputation of VIX," said a VIX representative.

According to VIX, individuals and organizations providing false information about VIX in general and VIX stock code in particular are violations of the law, causing disruption and loss of market security, and will be strictly handled according to regulations.

VIX gains big profits thanks to self-trading, portfolio holdings of GEX, Eximbank...

The stock's poor performance came despite the VIX reporting strong earnings results.

According to the financial report for the third quarter of 2025, after-tax profit reached more than VND2,449 billion, more than 9 times higher than the same period last year, thanks to a strong breakthrough in the self-trading and margin lending segments.

This is also the company's highest result ever, raising accumulated profit for the first 9 months of the year to more than VND 4,123 billion, setting a new record in VIX's operating history.

In its explanatory report, VIX said two main factors contributed to the sharp increase in profits: the strong growth of the stock market in the quarter, boosting profits from proprietary trading activities, and the promotion of margin lending, helping revenue from this segment increase significantly compared to the same period.

According to data from the financial report, the self-trading segment brought in more than VND 2,750 billion in profit, nearly 7 times higher than the same period in 2024.

The above results mainly came from the profit from the sale of financial assets recorded through profit/loss (FVTPL) - focusing on listed stocks and bonds - and the difference from revaluation of financial assets, in which listed stocks played a key role.

As of the end of the third quarter, VIX's FVTPL financial portfolio recorded three trillion-VND investments in EIB (over VND1,217 billion), GEE (nearly VND1,083 billion) and GEX (about VND1,586 billion).

These items all had fair values ​​that increased by 45%, 62% and 57% respectively compared to their book values, bringing in large estimated profits for the company.

However, it should be noted that the performance of securities companies' proprietary trading depends largely on market fluctuations, and VIX is no exception. Therefore, the large profits brought by the proprietary trading segment are not considered a sustainable source of income in the securities sector.

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BINH KHANH

Source: https://tuoitre.vn/co-phieu-giam-30-sau-chuoi-tang-nong-vix-len-tieng-ve-tin-don-lan-truyen-20251031203204744.htm