On October 1025, Vietnam's stock market witnessed a sharp decline of steel stock group after US President Donald Trump announced a 25% tax imposition for all steel and aluminum products imported to the US , in addition to the current metal tax.
This move is considered to be an escalation in the US trade policy, in order to protect the domestic industry. In the stock market, this policy immediately strongly impacted the price of steel stock prices, causing a series of deep reduction codes.
Opening the morning session, the steel stock group recorded the semi -voltage force. Notably, HPG - the leading stock of Hoa Phat Group - dropped sharply from the beginning of the session, sometimes touching 23,500 VND/share, losing more than 5% of the value compared to the previous session. Trading volume increased sharply, showing investors' psychology of negative impacts from new US tax policies. At the closing session today, HPG stopped at 25,400 VND/share, down 4.7%, the matching volume of 61.1 million units.
The same situation occurs with other codes in the group. NKG stock (Nam Kim steel) dropped sharply from the beginning of the morning session. At the end of the session, NKG market price decreased by 3.57%, to 13,500 VND/share, the trading volume reached 10.2 million units.
HSG (Hoa Sen) also does not escape the adjustment trend, sometimes it takes nearly 5% of the value, back to VND 17,800/share. At the top of the session, HSG market price stopped at VND 16,900/share, down 4.5%, the matching volume reached 13.2 million units.
Some other steel stocks such as SMC (down 6.8%), TLH (down 2.7%) are all in red with a deep decrease.
The US tax imposition of 25% for imported steel and aluminum is expected to significantly affect Vietnamese steel enterprises, especially companies with large exports to the US market. These enterprises may face reduced profits due to increased price and production costs, and must search for new export markets to compensate for a decline from the US market.
