Banking, seafood, textile stocks... continue to hit the floor, pushing VN-Index to 'evaporate' nearly 6%

The opening session on the HOSE saw a series of stocks hit the floor, pushing the VN-Index down 70 points, or nearly 6%, to nearly 1,160 points. The decline then eased as buying power in many stocks gradually increased. However, by 9:40 a.m., the stock market was still in red and the VN-Index had dropped more than 62 points, or more than 5%. The VN-Index had lost the 1,200-point threshold.

On the Hanoi Stock Exchange, the HNX-Index also fell nearly 6% to 208.2 points and the UPCoM-Index fell nearly 4% to 87 points. The number of stocks that reversed the trend to increase in price or maintain the reference level was quite small.

Banking and textile stocks... hit the floor in droves, pushing VN-Index below 1,200 points.

PHOTO: NGOC THANG

The group of export stocks including seafood, textiles, rubber all hit the floor. This light blue color continued to spread to the group of banking, securities, technology, oil and gas stocks... If in the 15 minutes of opening order matching on the HOSE floor, there were more than 200 stocks hitting the floor, then this number later recovered and only more than 150 stocks still fell to the full range. With a sharp decrease of 10 - 15% in just two sessions, some investors had the mentality to buy because they thought that after the panic selling, investors would calm down and the market would soon recover.

President Donald Trump's official announcement of reciprocal tariffs with countries, including Vietnam, caused investors to sell off stocks. The US stock market closed the trading session on April 3 (early morning of April 4, Vietnam time) in the red. The S&P 500 index fell 4.84% to 5,396.52 points, recording its worst session since June 2020. The Dow Jones index lost 1,679.39 points (equivalent to 3.98%) to 40,545.93 points and also recorded its lowest level since June 2020. The Nasdaq Composite index fell 5.97% to 16,550.61 points, marking its sharpest decline since March 2020.

Source: https://thanhnien.vn/co-phieu-ngan-hang-thuy-san-det-may-tiep-tuc-nam-san-day-vn-index-boc-hoi-gan-6-185250404094440501.htm