US postpones reciprocal tax, VN-Index increases nearly 73 points, more than 600 stock codes hit ceiling

After 4 sessions of "excessive" selling, VN-Index bounced back strongly, increasing by 71 points, equivalent to an increase of 6.5% after the periodic order matching session to determine the opening price. The number of stocks increasing in price was overwhelming. On all three floors, nearly 630 stocks increased by the maximum amplitude, 232 stocks increased in price. On the contrary, only less than 50 stocks decreased compared to yesterday's closing price. In the VN30 group alone, 30/30 stocks increased to the ceiling price and there was a "blank" situation on the selling side when ceiling price sell orders were quickly absorbed by the buying side. That is why liquidity this morning was much more modest than yesterday. Most of the transactions were in the first half hour of trading.

Updated at 10:15, the transaction value on the HosE floor reached 3,831 billion VND, while at the same time yesterday, 14,750 billion VND was disbursed from bottom-fishing demand flowing into the market. Foreign investors net sold 691 billion VND.

VN-Index is trading at 1,167.07 points, up 72.77 points (+6.65%). HNX-Index increased 15.37 points (+7.98%) to 207.95 points. UPCoM index with a larger scale also increased by 9.88%.

Not only in the Vietnamese market, Asian stock markets all skyrocketed this morning, following the historic recovery session in the US stock market after President Trump announced a new increase in tariffs on Chinese imports to 125%, while postponing tariffs on other countries for 90 days and reducing the tax rate to 10%. The decision takes effect "immediately".

The announcement was made on the social media platform Truth Social. A few hours earlier, at 9:37 a.m. US time, President Trump also posted on Truth Social "This is a great time to buy!!! DJT". The post ended with the letters "DJT". This is both the President's initials and the trading code of Trump Media & Technology, the parent company of Truth Social in which he holds a controlling stake.

According to Mr. Ho Huu Tuan Hieu, investment strategy expert at SSI Research, along with President Trump postponing tariffs on countries other than China early this morning, the information that needs attention is the meeting between Deputy Prime Minister Ho Duc Phoc with the US Trade Representative and then the meeting with businesses that are investing and trading in Vietnam such as Apple, Boeing, SpaceX...

According to Mr. Hieu, during the meeting, there could not be any final conclusions or clear results in terms of numbers, but with the first notes, the two countries also understood the proposals of both sides, from which they continued to negotiate to come up with new directions for trade agreements in the near future. The 90-day tax deferral is a valuable time to be able to make new progress in the agreements between the two countries.

Although the tax deferral is a story that relieves a lot of pressure on the market, Mr. Hieu also noted that besides the positive information just recorded, there is still a story of tension in the response between the US and China, not only the two largest economies in the world but also countries with trade relations with Vietnam.

“In the immediate future, we still have a lot of unpredictable information. Investors need to determine that the current context always has information that may not be under control. The market will need a lot of time to be able to balance,” said Mr. Hieu.

In addition, according to Mr. Hieu, during the 90-day tax deferral period, import-export activities will warm up. This is often seen after the US changes its trade policy, causing US retailers to increase their inventory. The forecast for the second quarter's business results is not much affected and will contribute to the overall picture of business activities for the whole year.

Source: https://baodautu.vn/my-hoan-thue-doi-ung-vn-index-tang-gan-73-diem-hon-600-ma-chung-khoan-tang-tran-d265385.html