(NLĐO) - On February 10th, steel stocks fell across the board after the US announced it would soon impose a 25% tariff on steel and aluminum imports from various countries.
Shares of steel exporting companies such as HPG fell nearly 4.7%, HSG plummeted 4.5%, and NKG dropped 3.6%...
Several securities firms believe that the announcement of new US tariffs has shaken markets, including Vietnam. Accordingly, Vietnamese stocks reacted negatively at the start of trading on February 10th. Despite attempts to recover during the session, many stocks were unable to regain positive territory due to significant selling pressure from steel stocks and other sectors.
The most obvious manifestation is the decline in the share prices of leading steel exporting companies in Vietnam, such as HPG, which fell nearly 4.7%, HSG, which plummeted 4.5%, NKG, which dropped 3.6%, and GDA, which lost 4.8%. Shares of domestic steel companies also fell sharply, with SMC dropping almost to its floor price of 7%, and TLH going down 2.7%,...
At the close of trading, the VN-Index fell nearly 12 points (-0.94%), closing at 1,263 points.
Assessing the impact of the new US tariff policy on exported steel and aluminum products, ACBS Securities Company believes that Hoa Phat Group (HPG) will experience relatively low direct impact. This is because exports only account for 30% of total revenue, with exports to the US accounting for approximately 5-10% of revenue.
However, HPG may be indirectly affected as Hoa Sen Group (HSG) and Nam Kim Steel Company (NKG), two major partners consuming large quantities of HPG's hot-rolled steel coils and with a high proportion of exports to the US, will face difficulties due to tariffs.
ACBS Securities Company also noted that the main risk for Ton Dong A is the excessively large proportion of exports to the US and EU, with over 65% of its galvanized steel exports going to the US and EU.
In light of the above information, VCBS Securities Company stated that the market is being cautious due to news regarding the imposition of tariffs on imported goods by the administration of President Donald Trump.
"Given this context, investors need to calmly restructure their portfolios for stocks that have experienced sharp corrections when the market recovers during the trading session, and continue to hold stocks that show no signs of capital outflow," VCBS Securities Company recommended.
Meanwhile, Rong Viet Securities Company predicts that the downward trend may continue in the next trading session. Therefore, investors should consider restructuring their stock portfolios to minimize risk.
Source: https://nld.com.vn/chung-khoan-ngay-mai-11-2-suc-ep-con-den-tu-co-phieu-thep-196250210172531045.htm
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