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VN-Index jumps over 70 points as stocks hit ceiling on tax relief news
The stock market opened sharply higher on Thursday morning following news that US President Donald Trump had postponed and lowered proposed tariffs on Việt Nam, fuelling a surge of investor optimism and widespread ceiling gains.
The stock market rebounded strongly following news that President Donald Trump announced a 90-day delay in imposing tariffs on several countries, including Việt Nam, and reduced the tariff rate to 10 per cent. — VNA/VNS Photo
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Việt Nam’s stock market surged at the opening bell on Thursday, with the VN-Index leaping more than 71 points as investors cheered the latest announcement from US President Donald Trump, who declared an immediate 90-day delay and reduction of proposed tariffs on multiple countries, including Việt Nam.
As of 9:20am, the VN-Index had gained over 72 points, marking a 6.5 per cent increase. On the Hồ Chí Minh Stock Exchange (HoSE), a total of 440 stocks rose, with an astounding 302 hitting their daily ceiling. In stark contrast, only three stocks traded in the red.
The VN30 Index, which tracks the 30 most valuable stocks on the southern bourse, was awash in “limit-up” purple — all 30 stocks hit their ceiling price, with no sellers in sight as investors scrambled to place buy orders at maximum prices.
Among the VN30 stocks, SHB drew the strongest interest, with nearly 15.5 million shares traded in just the first few minutes of the session.
Market sentiment turned decidedly positive following the unexpected announcement by President Trump, who stated that planned tariffs on certain countries — including Việt Nam — would be delayed for 90 days and reduced to 10 per cent, effective immediately.
Meanwhile, Trump also confirmed a significant escalation of trade pressure on China, with tariffs on Chinese goods set to increase to 125 per cent.
Bizhub
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