6PM Call: VNIndex Recovers as Trade War Fear Wanes - Update on Electricity Sector
Not only the VNIndex (1,120.29, +2.45%), but also other Asian stock indices (including NIKKEI, Hang Seng, CSI 300) saw a strong recovery after yesterday’s sell-off on the back of potential trade war worries. Steel stocks (HPG and HSG), which were supposed to be vulnerable under the new tariff, also closed successfully above reference prices. Investors seem to rely not much on what Trump has said, at least until now. We still kept our view that steel companies’ operation will not be affected that much by the new tariff if it ever happens. Therefore, the correction of steel stocks that have good fundamental as well as bright outlook (like HPG) should be a chance for investors.
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