The three stocks API, APS, and IDJ fell nearly 10% in the first trading session of the week amid a surge in selling pressure.
Stocks experienced significant volatility at the opening of today's trading session, following news of prosecutions and expansions of cases involving stock manipulation. The VN-Index briefly rose above the reference level after the opening auction but was then pushed back into negative territory by selling pressure just minutes after opening. Stocks in the "APEC group" and those related to Gelex were heavily sold off. The decline spread to the real estate sector and some infrastructure stocks.
However, only the "APEC group" stocks experienced a "complete lack of buyers" by the end of the session. Meanwhile, other groups gradually recovered in the afternoon. Bottom-fishing helped Gelex group stocks avoid hitting the floor price. Many stocks that had fallen at the beginning of the session also turned green later.
At the close of trading, the VN-Index rose 2.65 points (0.23%) to 1,132.03 points. The VN30-Index increased 0.4% thanks to a stronger recovery in blue-chip stocks, reaching 1,131.23 points. On the Hanoi Stock Exchange, the HNX-Index and UPCOM-Index edged slightly below the reference level.
The VN-Index closed the trading session on June 26th up nearly 3 points. Photo: VNDirect
The market's positive performance was mainly due to the recovery of blue-chip stocks, with declining stocks still dominating the trading board. The HoSE recorded 258 declining stocks, compared to 165 rising stocks. The VN30 group, however, showed the opposite trend, with 18 out of 30 blue-chip stocks increasing in price.
The stocks most negatively impacted were those in the "APEC group." The three stocks API, APS, and IDJ on the HNX exchange all fell to their floor price, losing nearly 10%, with sell orders at the floor price ranging from 10 to 30 million shares. Meanwhile, trading volume for this group today was only a few hundred thousand units. Last weekend, Hanoi police announced the initiation of a criminal investigation into alleged stock market manipulation involving the three stocks API, IDJ, and APS.
Along with the APEC group, stocks related to Gelex also experienced heavy selling pressure. These stocks hit their lower limit at the beginning of the session but recovered in the afternoon. GEX closed down nearly 1%, with over 51 million shares changing hands. VGC and MHC fell around 3%.
Conversely, green dominated among blue-chip stocks. In the VN30 index, retail, consumer goods, real estate, and banking stocks maintained their gains. MWG rose 3.4%, NVL and VNM gained over 2%, whileACB , TCB, FPT, HDB, PDR, and MSN surpassed their reference prices.
Market liquidity remained high, with trading value on HoSE exceeding 20,300 billion VND, of which the VN30 group accounted for nearly 7,400 billion VND. Foreign investors maintained a net selling position across all three exchanges, with a total net selling amount exceeding 350 billion VND.
Minh Son
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