After Trinh Van Quyet, HOSE issued a warning

The Ho Chi Minh City Stock Exchange (HOSE) has just decided to put 3 “FLC family” stocks including FLC Group’s FLC, FLC Faros Construction’s ROS and HAI’s Agro-pharmaceuticals.

Accordingly, these three enterprises were late in disclosing the audited financial statements for 2021 more than 15 days after the prescribed deadline.

Previously, these 3 stocks were also included in the list of securities not eligible for margin trading by HOSE. The State Securities Commission (UBCK) has also asked securities companies to report on outstanding loans for securities margin trading for 7 securities codes related to Mr. Trinh Van Quyet including FLC, ROS, HAI, AMD, KLF, ART and GAB.

In recent sessions, the group of stocks “family FLC” continuously fell to the floor. The hot cash flow showed signs of immobility after former FLC chairman Trinh Van Quyet was arrested for “manipulating the stock market”.

In the session of April 19, FLC shares of FLC Group fell to the floor at 7,150 dong/share with a selling surplus of more than 10 million units. From the beginning of the year until now, FLC shares have decreased more than 3 times, from nearly 23,000 VND/share to the current threshold of 7,000 VND. ROS also decreased more than 3 times, from over 150000 VND/share to 4,340 VND/share at the end of the trading session on April 19.

Many hot stocks group “Apec”, “Louis”, “DNP” as well as many stocks in the real estate industry… continued to drop in price, many stocks lost tens of percent compared to the peak set in the first week. January 2022.

Real estate stocks were negatively affected after the event that Tan Hoang Minh put a deposit on the land plot in Thu Thiem area, and then the cancellation of the 10 trillion bond block of this group. The psychology of investors was further affected when there were rumors about leaders of many businesses in the market. Many real estate codes decreased by 40-50% such as DIG, CII, QCG, NBB, SCR, CEO…

Previously, on March 29, the police department prosecuted and detained Mr. Trinh Van Quyet on the charge of “manipulating the stock market” and then arrested Mr. Quyet’s two sisters to investigate the crime. stock market manipulation”.

Earlier, on March 31, the Central Inspection Committee had a conclusion related to many leaders of the securities industry. Accordingly, the Party Committee of the Securities and Exchange Commission violated the principle of democratic centralism and the working regulations; lack of responsibility, loose leadership and direction, lack of inspection and supervision, so that some organizations and individuals under the SSC have many violations and shortcomings in advising on institutional and policy development and implementation. the state management of securities activities and the stock market, so that a number of organizations and individuals violate the law, manipulate the market, and gain illicit profits.

Former officials and incumbents in the securities industry such as Mr. Vu Bang; Tran Van Dung, Nguyen Thanh Long, Le Hai Tra, Nguyen Son, are jointly responsible for the violations and shortcomings of the Party Committee of the State Securities Commission, HOSE, HNX, and the Vietnam Securities Depository Center are personally responsible. about violations and shortcomings in the performance of assigned duties and responsibilities.

Soon to form a bottom

According to BSC, the correction session on April 19 made the market drop sharply to the psychological level of 1400 points. The signs of improvement in the morning session could not last until the end of the afternoon session. The selling increased strongly at the end of the session and spread to the whole market. Market breadth was skewed to the negative side with 16 out of 19 industries dropping, with only aviation and basic resources remaining up slightly. This group was a net buyer on HoSE and a net seller on HNX. Market sentiment is still tilted to the negative. However, with the VN-Index touching the support level of 1400 points again, BSC expects the investment cash flow to return. Otherwise, VN-Index may continue to correct to the threshold of 1,380 points.

SHS believes that the market may soon form a short-term bottom and recover after the panic session of investors and there may also be more margin calls in many stock groups.

With the VN-Index retreating to a strong support zone in the range of 1,400-1,425 points (December 2021), a recovery can be expected in the next trading session on April 20 if bottom-fishing demand good.

Closing the session on April 19, the VN-Index dropped 26.15 points to 1,406.45 points. HNX-Index dropped 10.42 points to 392.69 points. Upcom-Index dropped 1.89 points to 108.32 points. Liquidity reached 25.8 trillion dong, of which 22.7 trillion dong was on HOSE.

V. Ha