Closing the morning session on April 3, the VN-Index decreased by 82.28 points, equivalent to a decrease of 6.24% to 1,235.55 points. With this decrease, this is one of the three strongest declines in the history of the Vietnamese stock market. On the HOSE floor alone, more than 200 stocks plummeted to the floor price.

Similarly, stocks that were sold off their full range on the HNX also increased with nearly 50 codes, causing the HNX-Index to close the morning session down 7.04%, equivalent to a decrease of 16.76 points to 221.37 points. Leading the morning decline were stocks of export enterprises such as seafood, textiles, wooden furniture... In which, seafood stocks were all on the floor such as ASM of Sao Mai Group Joint Stock Company, ABT of Ben Tre Seafood Import-Export Joint Stock Company. ACL of Cuu Long An Giang Seafood Import-Export Joint Stock Company, AGM of An Giang Import-Export Joint Stock Company, ANV of Nam Viet Joint Stock Company...

PHOTO: NGOC THANG

The psychology of dumping many stocks occurred right from the beginning of the session and later spread to all industry groups. However, it did not stop there, investors rushed to dump stocks of many other enterprises such as CTG bank stocks, BID, Hoa Phat steel stocks, FPT, MWG of Mobile World, GVR of Vietnam Rubber Industry Group, PLC of Vietnam National Petroleum Group... causing these codes to also be pulled down to the floor price.

Notably, the trading value on the market increased sharply when in the morning alone, the HOSE floor had more than 31,244 billion VND traded and the Hanoi floor traded more than 1,639 billion VND. The total trading value of the market in the morning alone was nearly double that of the previous session.

The sell-off in Vietnamese stocks increased after President Donald Trump announced in the early morning of April 3 (Vietnam time) that he would impose reciprocal tariffs on 60 countries with high trade surpluses, including Vietnam, which will be subject to a tax rate of up to 46%.