Vietnam’s VN-Index world’s second-worst performer in Apr amid US tariff turmoil

Vietnam’s benchmark VN-Index dropped by more than 80 points, or 6.2%, in April, ranking as the second-worst performing stock index globally, according to data compiled by IndexQ.

Global markets tumbled in April, particularly in the first half of the month, as U.S. President Donald Trump’s tariffs rattled investor sentiment. The 10 worst-performing stock markets recorded losses of over 4% each, with Argentina leading the pack, down 10.8%.

Vietnam followed closely, with the VN-Index falling from 1,306 to 1,226 points – its steepest monthly decline in a year.

Trump’s announcement of a 46% tariff on Vietnam goods on April 2 triggered a panic sell-off on the Vietnamese stock market, causing consecutive sessions of heavy losses.

Vn-Index even briefly fell below 1,100 points, and some brokerages urged investors to “do whatever it takes to preserve capital and survive the week.”

However, the market bounced back after Trump announced a complete pause on all the reciprocal tariffs on April 9. The VN-Index rebounded with three straight gains, with a session during which liquidity plummeted to a multi-year low of just VND6.3 trillion ($242 million) in matching orders due to strong buying interest but a lack of sellers.

Matthew Smith, head of research at Yuanta Securities Vietnam, forecast that with the 90-day tariff delay in place, the VN-Index will stay at between 1,200 and 1,300 points through July 9, with limited liquidity and minimal volatility.

Dr. Yen Chen-Hui, a market strategist at Yuanta Securities Investment Consulting Co., Ltd., recommended investors diversify their portfolios, including gold, bonds, and bank deposits amid ongoing economic uncertainty.