The stock market entered this morning's trading session (May 10) with quite positive information, which was in a surprising announcement, US President Donald Trump decided to temporarily suspend import tariffs for 90 days, emphasizing that there are 75 countries, countries that have chosen not to pay US trade fees before and are in goodwill to negotiate, at the same time, lowering the counterpart tax rate to only 10%, effective immediately.
For the international stock market, right after that announcement, Wall Street experienced a historic day when US stock indexes skyrocketed in the trading session 9.4. The S&P 500 index jumped 9.52% to 5,456.90 points, marking the strongest increase in a single day since the 2008 financial crisis and the third largest increase in post-World War II history.
The Dow Jones index climbed 2,962.86 points, equivalent to 7.87%, closing at 40,608.45 points - the strongest percentage increase since the uncertainty period in March 2020.
Asian markets opened positively with spreading green, notably Nikkei 225 increased by 8.23%, Singapore Straits Times increased by 6.53%, All Ordinaries increased by 4.74%, Hang Seng increased by 3.28%, Shanghai composite increased by 1.55%.
The Vietnamese stock market also revived strongly right after the trading session on April 10 opened. As of 10:00 on April 10, the VN-Index had increased by 72.77 points, equivalent to 6.65%, to 1,167.07 points. There are up to 499 codes of price increase, of which 347 codes increase the price ceiling.
The index recorded a volume of more than 208 million shares traded, equivalent to a value of more than VND 3,931 billion. Looking at the market map, a series of financial giants such as TCB, SHS, MBB, ACB turned purple and occupied very large areas, followed by real estate stocks and the energy industry.
Similar scenarios also occurred on HNX-Index and UPCoM-Index, in which HNX-Index increased by 15.41 points to 207.99 and UPCoM-Index increased by 7.95 points to 92.36. Notably, futures contracts have also increased simultaneously, while the base index, VN30, is increasing by 80.61 points to 1,249.29, equivalent to an increase of 6.9%.
In recent days, when VN-Index has dropped sharply, the market price has been pulled in the cheap area of 10 years, opening up very good long-term investment opportunities with many leading stocks. When all businesses are strong around historic, many attractive long -term investment opportunities have appeared. According to SGI Capital's report, although the price fluctuations in the next few weeks may be very unpredictable, but after the extreme fear passes, the new order is gradually established and we will look back at this stage as one of the best investment opportunities in Vietnam's stock market history.
"Uncertain future times will also be a good time to own stocks because the need for sell-off will shift to defense, making the valuation of all stocks more attractive, increasing long-term investment efficiency. This is the time when the market is giving the right to buy great businesses that are being sold strongly at historical cheap prices, which only existed for a short time at the peak of fear," the report shared.
