Vietnam benchmark VN-Index jumps 73 points following US tariff delay
The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), gained 73.1 points, or 6.68%, to 1,167.4 on Thursday morning.
The Vietnamese market is covered in the purple on the morning of April 10, 2025. Photo by The Investor/My Ha.
The positive performance came as investors applauded U.S. President Donald Trump’s latest announcement on a 90-day delay and reduction of proposed reciprocal tariffs on multiple countries, including Vietnam.
Nearly 98% of stocks on the HoSE increased, with 311 reaching their ceiling price limits. Leading stocks driving the market were VCB of Vietcombank, BID of BIDV bank, VIC of Vingroup, VHM of Vinhomes, and CTG of VietinBank.
The HoSE liquidity "stagnated" with only 279 million shares changing hands for VND4.99 trillion ($193.24 million), which was about 27% compared to the same period in the previous session.
Investors remained confident and held onto their positions. As a result, the buying volume was 32 times higher than the selling volume.
The VN30 Index, which tracks the 30 largest caps on the major bourse, was overwhelmed in the purple, as all the tickers hit their ceiling prices, with no sellers. The index rose 80.6 points, or 6.9%, to 1,249.29.
Despite the market gain, foreign investors remained net sellers to the tune of VND933 billion ($36.13 million) on the HoSE.
The HNX-Index on the Hanoi Stock Exchange surged 8.13% to 208.24, while the UPIndex on the Unlisted Public Companies Market (UPCoM) soared 9.9% to 92.77.
President Donald Trump on Wednesday (local time) dropped his reciprocal tariffs for countries reaching out to the U.S. to negotiate to 10% for 90 days. The 90-day reprieve is applied to nearly 90 nations, including Vietnam and except for China.
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