On April 10, 2025, the Vietnamese stock market experienced a remarkable surge, with indices painted in vibrant purple, following the announcement from President Donald Trump regarding the suspension of retaliatory tax plans. This unexpected move, which halts tariffs for 90 days against trading partners that do not retaliate, has injected a wave of optimism into the market. As a result, traders were eager to buy, leading to an overwhelming presence of limit-up bids across various sectors.
During the morning session alone, the market witnessed a staggering 908 stocks rising in value, with 273 of those hitting their daily limit. The VN-Index surged by 73.1 points, reaching a midday high of 1,267.4 points. Meanwhile, the HNX-Index also saw a positive shift, climbing 15.66 points to settle at 208.24 points. Stocks like VCB, BID, VIC, VHM, and CTG played pivotal roles in driving the VN-Index's ascent, showcasing strong market leadership.
Pham Tuyen, Director of Brokerage at KIS Vietnam Securities Company, commented on the recent market trends, noting that it had sharply declined after four consecutive sessions of losses, where many stocks plummeted significantly. "The information regarding the suspension and reduction of tariffs from Trump acts as a 'mood booster' and instills confidence among investors. Therefore, the stock market could rebound strongly following this event," Tuyen stated.
In addition to the positive sentiment, the derivatives market also saw a significant increase. The VN30F1M contract, which tracks the VN30 index, displayed a dominant LONG trend, with a trading range reaching 8.2 points, fluctuating between 1,260.4 and 1,252.2. Foreign investors were notably active, holding 6,351 LONG contracts overnight, while domestic self-trading groups took a contrary position, SHORTing 400 contracts.
By the end of the trading session, the VN30 index recorded a final deviation of +11.11 points, maintaining a positive state throughout the day. This momentum was further emphasized by the fact that 30 stocks within the VN30 group achieved their limit-up status, with TCB being the standout performer, contributing an impressive 7.01 points to the index's rise.
Looking ahead to April 11, analysts predict that the LONG trend will continue at the beginning of the session. The VN30F1M contract established a large GAP LONG at the start, sustaining its limit-up state throughout the trading time. The Relative Strength Index (RSI) also showed a sharp increase, entering the overbought zone, indicating a strong buying momentum with no significant selling pressure in sight.
Investors are advised to consider maintaining their LONG positions while being prepared to reduce their holdings when targets are achieved or if the market experiences fluctuations. Key resistance levels for the upcoming session have been identified, with R1 at 1272.8, R2 at 1285.9, R3 at 1308.5, and R4 at 1318.4.
The overall trading value across the three exchanges reached an impressive 5,855 billion đồng, equivalent to 347 million shares traded. This surge in trading activity reflects the heightened investor interest and confidence stemming from the recent policy announcements.
As the market continues to react to external economic factors, the interplay between domestic investor sentiment and global economic policies will be crucial in shaping the future trajectory of the Vietnamese stock market. The coming days will likely reveal whether this positive momentum can be sustained or if the market will face new challenges.
