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Following President Donald Trump’s announcement of a 90-day suspension of countervailing duties on over 75 countries, including Vietnam, global stock markets reacted positively, and Vietnam was no exception.
The Vietnamese stock market opened on April 10 with over 1,000 stocks rising across the HOSE, HNX, and UpCoM exchanges. Notably, all stocks in the VN30 group surged to the maximum allowable limit with a “sell-side drought.”
The VN-Index rose over 70 points (+6.62%) immediately after the ATO, marking the strongest gain in history. The HNX-Index and UPCoM-Index also recorded impressive increases.
In the banking sector, as of 10:30 am, all 27 banking codes with over 80 billion shares simultaneously hit the ceiling. Liquidity in the industry was very low, with a series of codes showing zero sellers and tens of millions of buying interest. By 10:30 am, the trading value of VCB code was only 9 billion VND, STB 7 billion VND, HDB 4 billion VND,… SHB is the bank code with the highest liquidity, with more than 17 million matched orders, worth more than 200 billion VND.
Previously, Vietnamese securities, in general, and bank stocks, in particular, had gone through four consecutive declining sessions, with many codes losing more than 20% in value.
The banking industry accounts for a large proportion of Vietnam’s stock market capitalization, with giants such as Vietcombank (VCB), VietinBank (CTG), BIDV (BID), Techcombank (TCB), and MB (MBB) consistently ranking among the stocks with the highest market capitalization. According to statistics, bank stocks can account for 30-40% of the total capitalization of the VN-Index, depending on the phase.
This group is typically a top priority for institutional investors, investment funds, and individual investors due to its high liquidity and growth potential. Data released by major banks, including MB, Techcombank, Sacombank, SHB, ACB, and VPBank, indicates that each of these banks has hundreds of thousands of shareholders holding their stocks. This group also has the highest number of circulating stocks in the market, with over 80 billion units, Vietcombank being the listed company with the most circulating stocks in the market at over 8.3 billion units.
Given their scale, bank stocks not only exert technical influence but also significantly impact market sentiment. As a sector sensitive to macroeconomic factors such as interest rates, inflation, credit growth, and the State Bank’s monetary policy, these stocks reflect the health of the financial sector and the overall economy.
Gold Prices Surge Amid Buying Frenzy from China on April 9th
Today, gold prices surged as investors sought safe-haven assets amid concerns over the US Treasury bond market. Notably, a report suggests that gold is also being bolstered by a wave of buying from China, driven by fears of renminbi depreciation.
“Great Businesses Are on Sale at Historic Low Valuations”
In uncertain times, when the outlook is bleak, it is also a good time to own stocks. According to SGI Capital, a flight to safety can make valuations across the board more attractive, enhancing long-term investment performance. This strategy can prove beneficial for investors looking to capitalize on potential gains during volatile market conditions.
The Purple Patch: How the Airline’s Deal with US Partners Took Off
Vietnam Airlines has been touted as a “saving grace” for Vietnam, helping to alleviate the massive trade deficit with the US. The airline has taken a significant first step by signing a $560 million commercial contract with the American financial institution, Citibank.
The Seafood Savior: A Chairman’s Vow to Rescue Shareholders
“While Nam Viet has a presence in the US market, it does not consider it a primary focus. Instead, the company’s key markets lie in China, the Middle East, Brazil, Asia, Mexico, and other regions. These markets form the backbone of Nam Viet’s business, with a strong emphasis on international expansion and a diverse customer base.”
Market Beat 24/02: VN-Index Surges Past 1,300 Points as Trading Volume Improves
The market closed with strong gains, seeing the VN-Index climb 7.81 points (+0.6%), to finish at 1,304.56; while the HNX-Index rose 0.92 points (+0.39%) to 238.49. It was a relatively balanced session, with 377 advancing stocks against 373 declining ones. The large-cap VN30 basket tilted positively, as 21 stocks added value, 6 declined, and 3 were unchanged, ending the day in the green.
