Vietnam’s stock market made an impressive recovery on Thursday, with the VN-Index surging by over 74 points as news of a 90-day delay in US tariff measures significantly boosted investor sentiment.
The Ho Chi Minh Stock Exchange (HoSE) witnessed a wave of buying pressure, pushing the VN-Index up by 74.04 points, or 6.77 percent, to close at 1,168.34 points. Market breadth was overwhelmingly positive, with 368 gainers and only six decliners. Among the gainers, a staggering 318 stocks hit their daily ceiling prices.
The VN30-Index, which tracks the 30 largest capitalised stocks, advanced even more sharply by 80.61 points, or 6.9 percent, to 1,249.29 points – all 30 blue-chip stocks in the basket closed at their upper limits.
Despite the bullish sentiment, trading liquidity dropped sharply to VND6.3 trillion (US$232.6 million), down 80.5 percent from the previous session, as limited supply left buyers with few sellers to transact with. Total trading volume was just over 369 million shares.
Among the most notable stocks, Military Bank (MBB) attracted exceptional demand, with 93 million shares queued at its ceiling price, but fewer than two million shares changing hands. Hoa Phat Group (HPG), SSI Securities (SSI), Techcombank (TCB) and Saigon – Ha Noi Bank (SHB) also reported ceiling-price buy orders exceeding 50 million shares each.
Investor sentiment reversed dramatically after US President Donald Trump announced an immediate 90-day postponement of planned tariff increases on imports from several countries, including Vietnam, with the tariff rate now 10 percent. Meanwhile, tariffs on Chinese goods are expected to rise to 125 percent.
Market analysts noted that selling pressure, including margin calls, had largely dissipated, prompting retail investors to rush back into the market. “Selective buying of fundamentally strong, industry-leading stocks” was the most echoed recommendation among brokerage firms.
“Liquidity being low is actually a relief for now,” said Le Vu Kim Tinh, branch director of Phu Hung Securities. “After four consecutive deep declines with no apparent exit, the market has reversed course completely.”
Other analysts, including those from Guotai Junan Securities, projected that the index could rise further to the 1,200-point level, while Vietinbank’s market strategist Ngo Cong Binh suggested a potential recovery target of 1,255–1,285 points.
The HNX-Index on the Hanoi Stock Exchange also posted strong gains, rising 15.74 points or 8.17 percent to close at 208.32 points.
Despite the market rebound, foreign investors continued to be net sellers, offloading over VND850 billion worth of shares on the HoSE.
