HÀ NỘI — Việt Nam’s stock market made an impressive recovery on Thursday, with the VN-Index surging by over 74 points as news of a 90-day delay in US tariff measures significantly boosted investor sentiment.

The Hồ Chí Minh Stock Exchange (HoSE) witnessed a wave of buying pressure, pushing the VN-Index up by 74.04 points, or 6.77 per cent, to close at 1,168.34 points. Market breadth was overwhelmingly positive, with 368 gainers and only six decliners. Among the gainers, a staggering 318 stocks hit their daily ceiling prices.

The VN30-Index, which tracks the 30 largest capitalised stocks, advanced even more sharply by 80.61 points, or 6.9 per cent, to 1,249.29 points – all 30 blue-chip stocks in the basket closed at their upper limits.

Despite the bullish sentiment, trading liquidity dropped sharply to VNĐ6.3 trillion (US$232.6 million), down 80.5 per cent from the previous session, as limited supply left buyers with few sellers to transact with. Total trading volume was just over 369 million shares.

Among the most notable stocks, Military Bank (MBB) attracted exceptional demand, with 93 million shares queued at its ceiling price, but fewer than two million shares changing hands. Hòa Phát Group (HPG), SSI Securities (SSI), Techcombank (TCB) and Sài Gòn – Hà Nội Bank (SHB) also reported ceiling-price buy orders exceeding 50 million shares each.

Investor sentiment reversed dramatically after US President Donald Trump announced an immediate 90-day postponement of planned tariff increases on imports from several countries, including Việt Nam, with the tariff rate now 10 per cent. Meanwhile, tariffs on Chinese goods are expected to rise to 125 per cent.

Market analysts noted that selling pressure, including margin calls, had largely dissipated, prompting retail investors to rush back into the market. “Selective buying of fundamentally strong, industry-leading stocks” was the most echoed recommendation among brokerage firms.

“Liquidity being low is actually a relief for now,” said Lê Vũ Kim Tinh, branch director of Phú Hưng Securities. “After four consecutive deep declines with no apparent exit, the market has reversed course completely.”

Other analysts, including those from Guotai Junan Securities, projected that the index could rise further to the 1,200-point level, while Vietinbank’s market strategist Ngô Công Bình suggested a potential recovery target of 1,255–1,285 points.

The HNX-Index on the Hà Nội Stock Exchange also posted strong gains, rising 15.74 points or 8.17 per cent to close at 208.32 points.

Despite the market rebound, foreign investors continued to be net sellers, offloading over VNĐ850 billion worth of shares on the HoSE.  VNS