On April 3, the stock market fell 87.99 points (-6.68%) to 1,229.84 points. The next day, the VN-Index slowed down, down 19.17 points (-1.56%) to 1,210.67 points. Notably, by April 9, the VN-Index had slipped below the 1,100-point mark, to 1,094.3 points.

The market fell sharply after US President Donald Trump announced tariffs on many countries, including Vietnam.

The market then recovered and became more balanced in late April, but could not return to the level before the tariff announcement.

At the end of the last session of April (April 29), the VN-Index stopped at 1,226.3 points, down 0.5 points (-0.04%). Compared to the end of March, the VN-Index decreased by 80.56 points.

The last trading session of April marked the second consecutive session of decline, but the decrease was not significant. In addition, liquidity also decreased sharply. Most investors were very cautious before the long holiday, so they limited trading in the last two sessions of April. Therefore, these two sessions of decline did not have enough impact to change the previous recovery trend.

According to experts from Vietnam Construction Securities Joint Stock Company, at present, there has been positive information about negotiations and there are many expectations that the 46% reciprocal tax rate will be reduced by more than half, maintaining a positive signal about the market's recovery. Therefore, VN-Index has a high probability of recovering to the resistance level of 1,270 - 1,300 points - the equilibrium point before the reciprocal tax information is announced.

In April, many listed companies announced their business results. Currently, more than 600 companies announced that their after-tax profit growth in the first quarter of 2025 was 17.2% compared to the same period last year.

Of which, the Banking group (+16.1%), Securities (-2%), Non-Financial group (+23.5%). This is a fairly stable growth rate and the whole market is forecast to have a profit after tax growth rate in the first quarter of 2025 at 18%-20%. This will be a positive bright spot in May to help VN-Index recover to the threshold of 1,300 points.

“At present, we continue to maintain our view of holding the portfolio and wait for an explosion confirming the positive trend (VN-Index surpassing the 1,247 point mark) to further increase the proportion of stocks held,” this business expert emphasized.

Experts from Saigon-Hanoi Securities Joint Stock Company (SHS) believe that in May, the new trading system (KRX) will come into operation, expecting the market to react more positively to the new trading system.

Mr. Dinh Quang Hinh, Head of Macro and Market Strategy, VNDirect Securities Corporation, expects the VN-Index to retest the 1,240-1,241 point level (the peak of the previous recovery) and if it surpasses it, it will head towards the 1,260-1,270 point range. At the same time, he positively assesses the business results of listed companies in the first quarter of this year, a factor that will be an important support for the stock market in the short term.

The official launch of the KRX system on May 5 will bring many new expectations to the market, opening up room to develop new products as well as aiming to upgrade the Vietnamese stock market to an emerging market by FTSE and MSCI.

In addition, information related to bilateral trade negotiations between the US and Vietnam will also be factors that help improve market sentiment.

“With that expectation, we believe that investors can continue to hold stocks with a moderate proportion, prioritizing industry groups with positive business results in the first quarter of 2025 and positive prospects in the second quarter such as banking, retail, seafood, electricity and public investment,” the expert recommended.

Source: https://hanoimoi.vn/vn-index-giam-hon-80-diem-trong-thang-4-701166.html