The Investigation Police Agency under the Ministry of Public Security, on April 8, sent a document to eight banks requesting them to provide information to serve the investigation of the act of stock market manipulation against Trinh Van Quyet, Chairman of FLC Group Joint Stock Company.
Any act that aims at manipulating the stock and corporate bond markets to gain illicit profits will be punished strictly, according to the Ministry of Finance.
Prime Minister Pham Minh Chinh has expressed his belief that Vietnam will record stronger, more effective, and more sustainable socio-economic development in the second quarter of 2022.
The domestic stock market has still been assessed positive despite recent adverse impact, partially thanks to its internal factors, the head of the State Securities Commission (SSC) affirmed on March 31.
The Civil Aviation Authority of Vietnam (CAAV) has held an urgent meeting with key leaders of Bamboo Airways to assess risks and ensure absolute flight safety after this carrier’s Chairman Trinh Van Quyet had been temporarily detained on the charge of stock market manipulation.
Deputy Prime Minister Le Minh Khai, on behalf of PM Pham Minh Chinh, has directed the implementation of measures to ensure the stock market operates in a stable, safe, smooth, public and transparent manner and develops sustainably.
The Ministry of Public Security's Investigation Police Agency on March 29 decided to launch criminal proceedings against and arrest Trinh Van Quyet, Chairman of the FLC Group Joint Stock Company, pending investigations into suspicion of stock market manipulation.
The strong development of the stock market, with rising retail investors and financial investment demand, has prompted many banks to cooperate with securities firms and fund management companies to add more cross-selling products.
As the COVID-19 pandemic continues to spread nationwide and is gradually being considered an endemic disease that could be treated at home, demand for drugs has increased sharply.
Dr. Nguyen Tri Hieu, financial and banking expert, warned that the increasing tensions between Russia and Ukraine would negatively affect Vietnam’s stock market.