After yesterday's historic sell-off session (September 3), investors entered this morning's trading session (April 4) under additional pressure from having to sell to reduce margin's proportion.
Thanks to the continued strong cash flow in the morning session, the electronic board was less gloomy as a series of stocks reversed and recovered successfully, especially the good increase of the VIC - VHM pair.
bottom-fishing buying power is creating hope for a quick recovery, as demonstrated in this morning's session.
At the end of this morning's trading session, the VN-Index decreased by 47.77 points to 1,182.07 points, the HNX-Index decreased by 10.26 points to 210 points.
The trading value on the HOSE has reached more than VND27,000 billion, about 3 times higher than the average value of other sessions.
The electronic board also shifted from dark blue to brighter, although stock prices still mostly decreased.
Most of the stock codes in the VN30 basket are still dyed quite pessimistically red. In which, FPT, ACB, TCB and HPG are negatively affecting the VN30-Index.
On the contrary, only VIC, LPB, SSB, VNM and VHM are the 5 pillar stocks that helped VN30 hold back more than 5.3 points for the index.
Industry groups continue to record a widespread decline, showing the pessimistic sentiment of investors after news about the list of counterpart tax rates issued by the White House on April 3, 2025 still existed.
Of which, the energy sector is having the sharpest decrease in the market of 6.14%. Next is the information technology industry continuing to face many " matter waves" when most of the codes are recorded as red.
Looking back at the market's reaction after the tariff information, the VN-Index has decreased by nearly 10%, with selling pressure spreading evenly across the market, showing that investors still need more time and information to assess the real impact of this policy on the economy and profit growth of listed enterprises.
VinaCapital cited that FPT's stock - a software processing service provider - decreased by up to 7% (down the floor) even though the Trump administration's tax rate did not affect the company's products.
According to VinaCapital, this sell-off creates an opportunity for fund managers to proactively buy stocks with good fundamentals and less directly affected by tax policies, with more attractive valuations.
The businesses that can benefit most clearly are those that will be supported by the Government's efforts to offset the impact of tariffs on GDP growth.
In February, the Government announced a plan to increase spending on public investment, which has been very ambitious this year and information about US tariff policies will further strengthen the determination to promote these domestic stimulus measures.
In general, VinaCapital assessed that the tariff announcement on April 3, 2025 was much more negative than expected and will build an optimal investment portfolio in the direction of risk adjustment.
Many businesses with a solid foundation are likely to be over-sold out due to tax information, so VinaCapital will continue to implement an investment strategy in a disciplined manner and take advantage of opportunities even when the current context is not favorable for Vietnam.
According to VinaCapital, the upcoming focus will be on how Vietnam dialogues with the US and other major trading partners to minimize the short-term and long-term impact of this countervailing tax rate.
