VN-Index continues to plummet more than 70 points

Opening the trading session this morning (April 4), the Vietnamese stock market was immersed in red. The VN-Index fell vertically from the first minutes.

At 9:28, VN-Index decreased by 70.39 points, down to 1,159.15 points (equivalent to 5.79%). The entire HoSE floor was flooded with red with 445 stocks decreasing in price, 12 stocks remaining unchanged and only 14 stocks increasing.

Vietnamese stocks are in the red. (Screenshot)

In the VN30 group, only 1 code increased and 29 codes decreased. VN30-Index decreased 67.37 points to 1,215.55 points.

On the HNX floor, the HNX-Index decreased by 14.53 points (equivalent to 6.55%) to 206.47 points. The entire floor recorded 147 stocks decreasing, 24 stocks increasing and 15 stocks remaining unchanged.

The negative developments in the stock market continued to be a consequence of the information that President Donald Trump announced to impose a reciprocal tax on Vietnamese exports of up to 46%. In yesterday's trading session, the VN-Index fell nearly 88 points. Investors fell into a state of panic and rushed to sell off, causing 517 stocks to decrease in price, including 282 stocks hitting the floor.

However, according to many experts, the market will soon end its downward trend in the coming days.

“ Even if the US policy takes effect immediately, it will only affect a few specific industries such as seafood, steel, garment, footwear, and accessories exported to the US. The finance, banking, and real estate industries will not be affected much. Looking at the liquidity on April 3 with nearly 40,000 billion, I think that the trading session on April 3 cannot become a bearish cycle.

Therefore, in just a few days, especially after the Hung Kings' death anniversary holiday, the market will return to normal, " said Mr. Phan Manh Ha - Sales Director of VnDirect.

Mr. Ha optimistically predicted that after the next one or two sessions, the market will calm down and investors will continue to buy stocks. “ The stock market will soon recover because the Vietnamese government has negotiated policies to support businesses ,” Mr. Ha said.

Sharing the same view, Mr. Nguyen The Minh - Director of Research and Development of individual customers of Yuanta Securities Vietnam - also said that the imposition of tax on Vietnamese goods imported into the US will first of all affect investor psychology and will cause strong market fluctuations in the short term.

However, according to Mr. Minh, this impact will not last long and the market may reverse later.

" Firstly, there is still no specific tax rate for each item. Second, Vietnam still has time to negotiate to reduce the tax rate ," Mr. Minh explained.

Mr. Minh cited that in history, Mr. Trump has issued very high tariff policies many times, then through negotiations they have reduced them and hopefully this time will be the same. Besides, Vietnam also has plans to negotiate with the US and it is highly likely that it will be beneficial for Vietnam.

“ The impact on the stock market is real and the market will react very quickly and then reverse to increase in the next few sessions. Because the current low valuation is also a way to stimulate cash flow to return to catch the bottom, ” said Mr. Minh.

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Source: https://vtcnews.vn/vn-index-tiep-tuc-lao-doc-hon-70-diem-ar935670.html