On June 23, 2023, the State Securities Commission (SSC) announced that the Investigation Security Agency - Hanoi City Police Department issued a Decision to prosecute the criminal case of "Stock market manipulation" occurring at Asia- Pacific Securities JSC (APS), Asia-Pacific Investment JSC (API) and IDJ Vietnam Investment JSC (IDJ).
After this information was released, investors in the market continuously sold off "Apec" stocks, causing the prices of these stocks to drop to their lowest levels.
After the news of the prosecution of the "stock market manipulation" case with 3 codes API, APS and IDJ, Apec's stock prices plummeted (Photo TL)
Specifically, in the first trading session of the week on June 26, 2023, the Apec group of stocks suffered from a lack of buyers, with huge selling pressure right from the start of trading. APS code of Asia - Pacific Securities decreased by 9.8% to VND 12,900/share, with a floor sell order of up to 12 million shares; API code of Asia - Pacific Investment decreased by 9.5% to VND 11,400/share, with a floor sell order of 6 million units; IDJ code of IDJ Vietnam Investment decreased by 9.8% to VND 11,900/share, with a floor sell order of nearly 20 million shares.
All three companies mentioned above have stated that they are not related to or have any activities related to the above incident. At the same time, they have stated that the above incident has no impact on the company's business operations.
Before the information about the prosecution of the "Stock Market Manipulation" case against the 3 stock codes APS, API and IDJ, these 3 codes had reached their peak at the same time in August 2022. In which, API code reached the price of 26,342 VND/share on August 22, 2022; APS code climbed to 17,900 VND/share on August 22, 2022; IDJ code also peaked at 17,100 VND/share on August 29, 2022.
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