On June 23, 2023, the State Securities Commission (SSC) announced that the Investigation Security Agency - Hanoi City Police issued a Decision to prosecute the criminal case of "Stock market manipulation" occurring at Asia- Pacific Securities Joint Stock Company (APS), Asia-Pacific Investment Joint Stock Company (API) and IDJ Vietnam Investment Joint Stock Company (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 maximum.
After the news of the prosecution of the "stock market manipulation" case with 3 codes API, APS and IDJ, Apec's stock price 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 opening 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 have stated that they are not related or have any activities related to the above incident. They also stated that the incident does not affect 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 a price of 26,342 VND/share on August 22, 2022; APS code climbed to a price of 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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