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VCSC Daily - Stocks jump to fresh nine-year high as tariffs bolster steelmakers - BVH

For the second time this week, the VN-Index hit a new nine-year high after the market advanced half a percent on Thursday. Steel sector names, such as HPG (+3.5%), HSG (+0.9%) and NKG (+5.5%), rallied after the government announced five-year tariffs on imported steel products (see our note above.) VNM (+1.6%) rose to a five-month high and has gained 11% in the last three weeks as lower milk powder prices buoy investor sentiment while DHG (+3.6%) jumped to a new record high