The VN-Index unexpectedly adjusted after four consecutive sessions of increase, although the market received positive information about the trade deal with the US today, although there were no specific details. The VN-Index decreased by 2.63 points, down to 1,381.96 points.
Surprisingly, liquidity in the whole market increased sharply, largely thanks to improved investor sentiment after the news of a trade deal with the US. The total trading volume reached nearly 1.4 billion units with a value of VND 33,041.5 billion.
In that context, foreign transactions became a plus point when buying a sudden net VND 2,411 billion in the whole market, a record level since the beginning of the year.
On HoSE alone, foreign investors net bought approximately VND2,276 billion. SSI shares were net bought the most in the whole market with a sudden value of up to 432 billion VND. Following that, MWG shares were net bought strongly with a value of VND 294 billion. In addition, CTG, HCM, VCI stocks were simultaneously net bought for over hundreds of billions of VND per code. On the contrary, the top stocks that were net sold strongly today include: DHC, GVR, HDC, GAS, etc., but the net selling value was only about a few dozen billion VND.
Looking back at the market with the story of tariffs, the VN-Index recorded a recovery of 300 points from the highest level reached at 1,390 points in the session compared to 1,094 points - the bottom level in mid-April.
Compared to the time right before Mr. Trump suddenly announced shocking counterpart tariffs for many trading partners, including Vietnam, in early April, the VN-Index has recovered by more than 70 points.
VN-Index closed slightly down, showing that this could be a market distribution session. Experts say this is understandable when profit-taking forces appear whenever the index recovers and sets new highs. Today's session is an example, when the VN-Index was sometimes shaken, struggled and sometimes decreased by more than 14 points.
Along with that, the psychological resistance zone as well as the important target of 1,390-1,400 points and the strong resistance level of 1,398-1.418 points are very close, with the forecast that the VN-Index will likely face strong selling pressure at this point, which is also a factor that causes investors to rotate part of the portfolio.
Expert Pham Luu Hung - Chief Economist and Director of SSI Research, commented that the 20% tax rate is not the final figure because the negotiation process is still ongoing. Accordingly, the origin rule is an important factor more than the tax rate. If the origin rules are too difficult, it will be difficult for Vietnamese goods to enjoy low taxes, even though the final tax rate may be very low.
In the stock market, information uncertainty - one of investors' biggest concerns in recent months, has eased. When uncertainty decreases, the market will gradually look more at domestic economic growth drivers and profit growth of listed enterprises. The market is shifting to focusing on domestic information, which is less uncertain and easier to predict, which is a positive feature for the market in the coming time.
The 20% tax rate has been in SSI Research's forecast scenario since April, and with this scenario, the profit growth rate of listed enterprises in Vietnam in 2025 is still forecast to be double-digit (more than 13%).
SSI experts say that it is difficult to say which businesses will benefit specifically, but this will be a common benefit for all businesses in Vietnam. The reason is that risks related to tariffs have begun to fade, allowing businesses to focus on more important factors in the growth process. In 2025 and 2026, the main driving force for Vietnam's growth will not come from the outside but from within, such as public investment, infrastructure construction, and boosting domestic consumption.
