APEC family stocks sold off

Three codes API, APS and IDJ decreased nearly 10% in the first session of the week before selling pressure increased sharply.

Stocks fluctuated strongly at the opening of today's session, following news of prosecutions and expansion of stock manipulation cases. VN-Index jumped above the reference level after ATO and was pushed down by selling pressure just minutes after opening. "APEC" stocks and Gelex-related stocks were sold off massively. Red spread to real estate and some infrastructure stocks.

However, only the APEC stocks were "empty on the buy side" by the end of the session. Meanwhile, other groups gradually recovered in the afternoon session. Bottom-fishing cash flow helped Gelex stocks escape the floor price. Many stocks that fell in the early hours also returned to green later.

At the end of the session, VN-Index increased by 2.65 points (0.23%) to 1,132.03 points. VN30-Index increased by 0.4% thanks to the recovery of stronger bluechips, reaching 1,131.23 points. On the Hanoi Stock Exchange, HNX-Index and UPCOM-Index decreased slightly below the reference.

VN-Index closed the session on June 26 up nearly 3 points. Photo: VNDirect — VN-Index closed the session on June 26 up nearly 3 points. Photo: *VNDirect*

The green color of the market is mainly due to the recovery of the bluechip group, the number of decreasing codes still dominates the board. HoSE recorded 258 decreasing codes, compared to 165 increasing codes. In the VN30 group, the opposite situation occurred with 18/30 bluechip codes increasing in price.

The most negatively affected stocks were the "APEC family". The three codes API, APS and IDJ on the HNX all fell to the floor, losing nearly 10%, with a floor-price sell order of 10 to 30 million shares. Meanwhile, the liquidity of this group in today's session only reached a few hundred thousand units. Late last week, Hanoi Police announced the initiation of a case to investigate stock manipulation with the three stock codes API, IDJ and APS.

Along with the APEC group, stocks related to Gelex were also sold heavily. This group hit the floor price at the beginning of the session but was pulled back in the afternoon session. GEX closed the session down only nearly 1%, with more than 51 million shares traded. VGC and MHC fell around 3%.

On the other hand, green dominated the bluechip group. In VN30, retail, consumer goods, real estate, and banking stocks remained green. MWG increased by 3.4%, NVL, VNM added more than 2%, ACB, TCB, FPT, HDB, PDR, and MSN exceeded the reference.

Market liquidity was high, with transaction value on HoSE reaching over VND20,300 billion, of which the VN30 group traded nearly VND7,400 billion. Foreign investors maintained a net selling status with the scale of all three floors at over VND350 billion.

Minh Son

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