By mid-morning on April 3, the VN-Index had dropped more than 70 points, or nearly 5.5%. By 11am, the VN-Index had dropped nearly 80 points, or nearly 6% - an unprecedented drop.

Almost all stock groups decreased in price, including banking, real estate, retail, manufacturing, export...

By 11am, some stocks hit the floor such as: VRE, MSN, BCM, GVR, PLX, BVH, MWG, SHB, TPB... Stocks in the seafood, textile, and natural rubber groups also fell sharply, with names such as MSH, STK, GIL, VHC, IDI, ANV...

However, liquidity skyrocketed, reaching VND27.7 trillion at 11am on the Ho Chi Minh City Stock Exchange.

Many stocks in the HNX30 basket decreased by about 5%. In the UPCoM market, with a wide range, many stocks decreased by more than 10%.

At the end of the morning session, the stock market's decline narrowed to a decrease of 67.52 points.

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The US imposes high tariffs on goods from many countries. Photo: CNBC

Vietnamese stocks fell sharply after US President Donald Trump announced reciprocal tariffs on countries around the world in the early morning of April 3 (Vietnam time). Accordingly, the White House announced a basic tax rate of 10% will be applied to all imports from countries, effective from April 5.

Many countries and territories are subject to higher tariffs. Specifically, China faces a 34% tariff (plus the previously announced 20% tariff, for a total of 54%, effective from April 9), the European Union (EU) 20%, Vietnam 46%, Taiwan (China) 32%, Cambodia at 49%, Thailand is subject to a 36% tariff, Indonesia at 32%...

Last weekend, Mr. Trump imposed a 25% tariff on imported cars (effective April 3) and separate tariffs targeting China, Canada, and Mexico.

On the morning of March 3, foreign investors continued to net sell, about 1,900 billion VND. In the first quarter, this group net sold more than 26,000 billion VND.

According to Mr. Luu Chi Khang, Director of Research Center of CSI Securities Company, the sharp drop in stocks was due to the US announcing higher-than-expected tax rates on countries, including Vietnam. The 46% rate was unexpected.

Meanwhile, the US is Vietnam's largest importer, with 30% of its exports to the US, so a 46% tax rate will have a major impact on the domestic economy. This impact could be long-lasting if there is no negotiation to reduce the 46% tax rate.

Mr. Khang said that there is still a possibility that the tax rate will be lower if Vietnam negotiates with the US in the near future.

In the US, after Mr. Trump announced the tariffs on goods from various countries, the US futures market recorded a sharp drop of 5% but then narrowed the decline to only about 2%. Many organizations assessed that the message from the White House showed a reaction to Mr. Trump's tariff policy to ask countries to sit down and compromise.

The 10% tax rate effective from April 9 is also a positive signal, as previously it was rumored to be 20%.

The $200 billion floor set a new milestone after more than 2 years, the assets of the 'steel king' broke through . The stock market increased sharply, the VN-Index quickly surpassed the 1,300 point mark when steel stocks surged, the banking and financial groups were active. The assets of some billionaires, including Mr. Tran Dinh Long, soared.

Source: https://vietnamnet.vn/chung-khoan-giam-ky-luc-thanh-khoan-tang-vot-2387446.html