The situation of the stock market on April 4 was less negative than at the beginning of the session when the index's decline was gradually narrowing.
At 10:50, the VN-Index decreased by 35.24 points and lost the important support level of 1,200 points to 1,194.48 points.
Liquidity continued to explode in the morning session with a volume of more than 1.1 billion shares worth more than VND 23,900 billion.
Green is gradually returning to some stocks. In the large-cap group, Vingroup stocks have returned to increase in price. Of which, VIC increased by 3.22%, VHM increased by more than 1.32%.
In addition, some other bluechips stocks also regained their green color such as VNM increased by 3.36%. The number of stocks is increasing. The HOSE market at this time recorded 73 stocks with 2 ceilings. In contrast, the number of codes for floor reduction is only 89.
The energy industry was most negatively affected since the beginning of the session with a decrease of 7.04%. Typically, stock codes such as PVS, PVD, BSR, PVC, PVT, PTO, ... all decreased dramatically. The remaining stocks were all in red from the beginning of the session. Followed by technology and information stocks, it is equally optimistic.
Experts say that the market developments are the result of the US announcement of applying a 46% counterpart tax on Vietnamese exports. Although not yet official and Vietnam still has 1 week to negotiate, this information still strongly affects investor sentiment. However, there are still many predictions that this panic will soon end in the next few days.
Because even if the US policy is always in effect, it will only affect a number of specific industries such as seafood, steel, garment, footwear, and accessories exported to the US. The finance, banking and real estate sectors will not be affected much. Vietnam's over- exports to the US are the electronics industry group. Meanwhile, this industry group is mostly FDI enterprises and mainly creates jobs for Vietnamese workers, not much tax collection or exchange rate.
Meanwhile, for processing industries such as garments, enterprises have also signed export contracts until March 2026, so they are not expected to be affected immediately. Currently, only the steel and seafood industries will be directly affected if the US tariff policy is forced to be implemented.
Dr. Nguyen Duy Phuong - Investment Director of DG Capital - said that it must be admitted that the information about the US imposing tariffs on Vietnamese goods has also caused investors to panic, causing a chain of domino reactions and a group of "going rain". The imposition of a tax on Vietnamese goods imported into the US will first of all have an impact on investor sentiment and will cause strong fluctuations in the market in the short term.
This impact will not last long and the market may reverse again. The reason is that there is still no specific tax rate for each item. And Vietnam still has time to negotiate to reduce tariffs.
Ms. Dang Nguyet Minh - Director of Dragon Capital Research - assessed that tax shocks for Vietnam are relatively large, but one thing is certain to happen, when the economy is affected by external shocks, internal policies need to be strongly promoted to maintain stability, possibly increasing public investment, promoting domestic consumption and supporting domestic enterprises. The revenue proportion of Vietnamese enterprises is also less affected by the new US tariff policy.
According to Ms. Nguyet, in the VN-Index basket, the total revenue of Vietnamese enterprises (excluding finance and real estate) reached about 111 billion USD. Of which, only 18% are from companies with export activities, and only 2% of revenue is exported directly to the US market. Therefore, the direct impact of this tax policy on revenue and profit is not considered too significant. The main affected industries include chemicals, consumer goods, food, steel and construction materials.
