The State Securities Commission (UBCKNN) fined Thang Phu Minh, Lam Thuy Hang and Duong Thai Phuong Thao VND 1.5 billion each, totaling VND 4.5 billion, for using 61 securities accounts to repeatedly buy and sell KDC shares from 02/05/2024 to 06/01/2025 to create artificial supply and demand. The inspection found no illegal gains from these violations. The three are also barred from securities trading for 2 years from 02/11/2026 and from holding positions at securities firms, fund managers and related institutions in the same period. On the same day, 17 people who lent their accounts were suspended from trading for 9 months and face the same 2-year trading ban: 8 people lent 8 accounts to Minh, and 9 people lent 48 accounts to Hang.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: 3 cá nhân dùng 61 tài khoản thao túng cổ phiếu Kido suốt 8 tháng, loạt người liên quan nhận cái kết đắng
Keywords
market manipulationState Securities Commissionpenalties
Open a keyword to see other news on the same topic.
Related tickers and likely impact
KDC
▼ Likely negativeKIDO Group
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Food & Beverage |
| Industry | Food Production |
| Market cap | 13,873 bn VND |
| P/E | 24.8 |
| P/B | 2.40 |
| Close on 10/30/2026 | 50.20 |
| Change that session | 0.00% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Manipulating KDC Stock Through 61 Accounts: 3 Individuals Fined 4.5 Billion VND and Banned from Trading for 2 Years
On October 28, the State Securities Commission of Vietnam (UBCKNN) fined three individuals a total of 4.5 billion VND for manipulating shares of Kido Group (HOSE: KDC) through 61 accounts between May 2, 2024 and January 6, 2025. Thang Phu Minh, Lam Thuy Hang and Duong Thai Phuong Thao were each fined 1.5 billion VND and banned from securities trading for 2 years from November 2, 2026, along with a ban on holding posts at related firms. 17 individuals who lent their accounts were suspended from trading for 9 months and face the same 2-year trading ban. The regulator said there is no basis yet to determine the illegal gains of those 17 individuals. During the period, KDC fell as much as 15% from above 62,000 VND to 53,000 VND, then rose nearly 19% to 58,000 VND in mid-December 2024.
- TST, Phong Liệu Wind Power... Receive Penalties from State Securities Commission
The State Securities Commission's inspectorate fined Education Infrastructure Group JSC a total of 230 million VND under Decision 628/QĐ-XPHC dated Oct. 21, 2026, for late periodic disclosures and late registration and trading registration of private corporate bonds EIGCH2227001 and EIGCH2227002, with delays of 12 months or more. Under Decision 632/QĐ-XPHC of the same date, Telecommunications Technical Services JSC (TST, UPCoM) was fined 60 million VND for incomplete disclosure, including failing to report a 5.9 billion VND loan from board member and CEO Lê Minh Hải in its 2025 corporate governance report. TST was also fined 85 million VND for disclosures made less than 15 days late and 6.25 million VND for another violation that the article cuts off.
- State Securities Commission (UBCKNN) fines AAS, DAG, TST and a wind power company in succession
On 23 October, UBCKNN published penalty decisions against SmartInvest Securities (AAS), Dong A Plastic Group (DAG), Telecommunications Technical Services (TST) and Phong Lieu Wind Power (PLWC) for reporting and disclosure violations. AAS was fined 150 million dong for inaccurate reporting on the use of company funds and assets to secure obligations to a third party, and must report correct information. PLWC was fined 77.5 million dong for registering its corporate bond PLWCH2135001 more than 12 months late, while DAG was fined 92.5 million dong for disclosing many financial and governance reports at least 15 days late. TST was fined a total of 151.25 million dong, including for incomplete disclosure of a loan of over 5.9 billion dong from a board member who is also general director, and for late notice to UBCKNN after it no longer met public-company conditions, with shareholders' equity of nearly 27.5 billion dong in its audited 2025 financial statements.
- Petro Times explains after five consecutive limit-down sessions
Petro Times (HNX: PPT) shares hit the floor price for five consecutive sessions from 20 to 26 October, and kept falling on 27 October and the morning of 28 October. The company attributed the decline to supply-demand factors that affected shareholder sentiment and to difficulties from the wider economy, while average daily trading volume was only 24,540 shares and the stock was down 52% from the start of the year. PPT was previously involved in a manipulation case: on 12 November 2025, the State Securities Commission fined two individuals 1.5 billion VND each for using 19 accounts to trade the stock over more than two years. According to its Q3 2026 financial statements, revenue fell 9% and the company posted an after-tax loss of over 22 billion VND, versus a 2.4 billion VND profit a year earlier, with a loss of nearly 20 billion VND from selling investment property and financial expenses up 2.48 times.
- Too Broken For Frontier: Indonesian Markets Suffer Worst Rout Since 1998 As MSCI Threatens The Argentina Treatment
MSCI warned Indonesia could be downgraded straight from Emerging Market to 'Standalone' status, skipping Frontier, because concerns over opaque shareholding, coordinated trading and weak enforcement persist despite reforms. The Jakarta Composite Index fell 11.6% on Friday and 3.6% on Monday, a near-15% drop over two sessions that is steeper than any two-day stretch in the 1998 Asian crisis, and it is down about 45% from its January 20 peak. About $350 billion in market value has been wiped out since January as foreign investors exit and the rupiah weakens. The OJK fined entities tied to manipulation in three stocks 2.1 trillion rupiah ($116 million), and MSCI will decide by June 30, 2027.
- Stock fixing scandal could see Turkish companies frozen out of global indexes
A market manipulation scandal in Turkey stems from allegations that investment firms inflated small, illiquid stocks with low free float, which the Capital Markets Board said could not be explained by the companies' economic or financial fundamentals. In September, Pusula Portföy became the first asset manager to report a fund default, and Tera Portföy said two of its funds had also defaulted, while the BIST 100 index fell 16.7% that month. The regulator ordered the liquidation of 131 funds with about 1 trillion lira ($20.2 billion) in assets. MSCI has frozen certain index changes for Turkish equities and may consider reclassifying Turkey's indexes if sufficient progress is not shown by June 2027, while also proposing to downgrade Indonesia to standalone market status over opaque shareholding structures and suspected coordinated trading.
Related markets
Latest news
- Is High-Yield Verizon a Stock a Buy Despite SpaceX Worries?
Verizon's third-quarter results showed 406,000 net postpaid phone additions, up 820% year over year and its best Q3 in five years, plus 137,000 net account additions. Revenue rose 1.5% to $34.3 billion and adjusted EPS climbed 8.3% to $1.31, while the company raised its 2026 postpaid phone additions outlook to 1.1 million to 1.2 million and its adjusted EPS growth outlook to 7% to 7.5%. The stock has fallen on concerns that SpaceX could enter the U.S. mobile market, and CEO Dan Schulman said building a terrestrial network would require 65,000 to 80,000 macro sites, cost $300 billion to $500 billion and take four to six years. The author views the stock as cheap, citing a dividend yield above 6.5%, a 11% free cash flow yield and an 8-times forward P/E.
- AMD Is Chasing Nvidia in AI, but Investors Could Win Either Way
AMD reported second-quarter Data Center revenue of $6.72B, up 107% and 58% of total revenue, and CEO Lisa Su said the company enters the second half with strong momentum. Shares are up 164.77% year to date at $567.04, though they fell 10.08% over the past month. The average analyst price target of $637.61 implies about 12% upside, while expected 2027 EPS growth of 108% and revenue growth of 75% are seen as aggressive. The article says reaching $1,000 per share by 2027 would require a 76% gain, with hurdles including Helios yields, data center power availability and export controls, and that AMD trades at 36x 2027 estimates.
- What it will take for Alphabet's low P/E ratio to rebound: AlphaSpace
Yahoo Finance's Brian Sozzi notes that Alphabet's P/E has fallen to its lowest level since 2012 after the company posted negative free cash flow of $9.1 billion in the quarter, versus a Wall Street estimate of negative $3.5 billion, and more than $500 billion in market value was erased in a single day. He argues earnings estimates have not bottomed, citing slowing search and YouTube. For the P/E to recover, he says estimates would need to rise, the market would need to believe earnings will reaccelerate around mid next year, or Alphabet would need to cut capex, and he does not expect this to happen in the near term.
- BC-Most Active Stocks
This is the AP market data table of the most active stocks on the Nasdaq Composite, NYSE and NYSE American, listing volume, high, low, last price and change. On the Nasdaq, Hub Cyber Security led with a volume of 169,060,564, followed by Intel at 144,803,816 and Smart Logistics Global at 127,565,907.
- This strategist correctly recommended shorting Big Tech debt last year. Now he says the yields make it attractive.
Yields on tech bonds now range from 6% to 8%, providing more competition for stocks than before. The headline notes that the strategist was correct last year to be bearish on Big Tech debt and now says these yields make it attractive.
- Gold plunges through $4,000/oz: what's happening?
Spot gold fell nearly $119, about 2.95%, to around $3,901/oz, its lowest in roughly a year and more than $1,000 below its peak above $5,000 earlier this year. Rate expectations weighed on prices: US Q3 employment costs rose 0.8%, Q3 GDP grew 3.4% year on year and September PCE climbed 3.6%, pushing back hopes for an early Fed easing. The Fed held its target rate at 3.75-4.00% with a 10-2 vote, and two members wanted a 25 basis-point hike. Gold kept falling despite higher oil prices after a tanker attack in the Strait of Hormuz, as the 10-year Treasury yield eased about 7 basis points to 4.98%. Silver also slid to about $49/oz, its lowest in over a year.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.