VN-Index increased by more than 54 points

After a strong recovery on April 10, Vietnamese stocks entered the last trading day of the week on April 11 in an excited state, despite the negative developments in the US and Asian markets.

VN-Index increased by more than 65 points as soon as it opened, then gradually narrowed the range to about 20 points due to strong differentiation of cash flow by industry group.

In the final minutes, foreign investors actively disbursed, helping to widen the increase range again. The index closed at 1,222 points, up 54 points. The VN-Index has recovered 13.8% from the lowest point in the strong correction due to Mr. Trump's reciprocal tax information.

The Ho Chi Minh City Stock Exchange had 332 stocks increasing, nearly double the number of stocks decreasing. Cash flow into large-cap stocks and leading enterprises with high discounts helped the VN30 basket increase by more than 60 points. 28 out of 30 stocks in this group closed above the reference, of which GAS, MWG, STB, VIC, HPG all increased to the maximum limit and there were no sellers.

On the other hand, large-cap stocks SSB and BCM fell, losing 3.1% and 1.6% respectively compared to the reference price. Stocks in industries expected to be directly affected by tariffs such as industrial park real estate, seafood, etc. went against the market trend, generally falling 2-4%. However, the strong selling pressure in this group was no longer significant, thanks to which many stocks such as KBC, LHG, SZC, PHR escaped the floor price.

Mr. Nguyen Duc Nguyen, investment analyst at FinSuccess, said that the positive impact will continue to spread across the market, supporting the recovery process after the sharpest declines in history. However, this recovery momentum will have a clear differentiation between stocks, depending on the level of risk each industry has to the US tax rate.

After a session where there were buyers but no sellers, causing liquidity to plummet, the supply-demand balance has stabilized again. Ho Chi Minh City Stock Exchange recorded 1.73 billion shares successfully matched, equivalent to a transaction value of more than VND38,160 billion, far exceeding yesterday's VND6,300 billion. The VN30 basket contributed nearly VND22,000 billion of this amount.

The market has up to 8 stocks reaching trillion-VND liquidity, namely FPT, HPG, MBB, STB, SSI, TCB, SHB and VPB. The common point is that these codes all increased by more than 2%, maintained green throughout the session and some codes even hit the ceiling.

Foreign investors net bought more than VND970 billion. This group disbursed over VND5,500 billion, while only selling about VND4,500 billion. This was the strongest buying session by foreign investors in the past half year.

According to Mr. Dao Minh Chau, Deputy Director of Stock Analysis at SSI Research, after a week of strong fluctuations, the valuation of the Vietnamese market has returned to a quite attractive level with a P/E ratio 30% lower than the average of the past 10 years. The pressure to sell off mortgages has also been removed.

The US announcement of the application of reciprocal taxes is a "black swan" phenomenon, similar to the East Sea incident in 2014, the Covid-19 pandemic in early 2020 or the wave of global interest rate hikes in late 2022. Such events are rare and bring uncertainty, but also bring attractive investment opportunities because most stocks have recorded very strong discounts in recent sessions.

However, he said investors need to note that although the US has postponed the application of reciprocal taxes, the stock market still has many unpredictable factors, especially when US-China trade tensions still exist and even tend to continue to escalate.

"Investors still need to closely observe international developments and manage risks, avoiding buying at all costs," Mr. Chau recommended.