VN-Index drops nearly 70 points after 'shock' of Vietnam being taxed

At 9:45 this morning, VN-Index fell 69.61 points to 1,248.22 points. The market was flooded with red, VN-Index had 373 stocks decreasing in price, including 28 stocks hitting the floor. HNX had 148 stocks decreasing in points.

Selling pressure continued to weigh on the market as more stocks in the VN30 basket hit the floor, such as MSN, BCM, GVR, PLX, and BVH. Liquidity on the HOSE floor at this time reached nearly VND12,700 billion.

The market is in red. (Screenshot)

Stocks of the seafood, textile, and natural rubber groups all hit the floor, such as MSH, STK, GIL, VHC, IDI, and ANV, of which MSH and VHC stocks hit the floor with hundreds of thousands of units remaining for sale at the floor price.

Stocks in the HNX30 basket mainly decreased by more than 4%, including stocks that lost more value such as L18, VCS, NVB, TNG, IDC, DTD with a decrease rate of more than 6%. In the UPCoM market, with a wide amplitude, many stocks decreased by more than 10% such as VGT, MFS, DRI..

The negative developments in the stock market came after President Donald Trump announced a "deification list" of countries subject to reciprocal tariffs. Contrary to the predictions of many domestic experts, Vietnam is among the countries subject to the highest reciprocal tariffs of up to 46%.

Other economies in the region are also subject to tariffs such as: Cambodia at 49%, Thailand at 36%, China at 34%, Taiwan and Indonesia at 32%.

Ngoc Vy

Source: https://vtcnews.vn/vn-index-giam-gan-70-diem-sau-cu-soc-viet-nam-bi-ap-thue-ar935446.html