HCMC – Hoa Sen Group (HOSE: HSG) said a new U.S. tariff on steel and aluminum imports will not affect its business operations, reported the local media.
U.S. President Donald Trump announced on May 30 plans to double the tariff on steel and aluminum imports from 25% to 50% to protect domestic metal producers. The tariff took effect today, June 4.
Since March 2025, the U.S. has applied a 25% tariff on most steel and aluminum products imported under Section 232 of the National Security Law.
Hoa Sen said its exports to the U.S. have been suspended since September 2024, following anti-dumping and countervailing duty investigations by the U.S. Department of Commerce. The company cited the investigations and cautious sentiment among customers as reasons for halting shipments.
Closing the trading session today, June 4, HSG inched down by 1.22% to VND16,150, with a trading volume of nearly 5.7 million shares.
The VN-Index fell 1.51 points, or 0.11%, to 1,345.74 points, with 153 gainers and 151 losers. Total trading volume reached over one billion shares valued at VND23.18 trillion, down 10% in volume and 9.9% in value from the previous day. Block deals accounted for 118 million shares worth VND2.71 trillion.
The VN30-Index, which tracks the 30 largest-cap stocks, dropped 2.59 points, or 0.18%, to 1,435.28 points. Twenty-one bluechips in the basket fell, six rose, and three remained unchanged.
VNM rose 2.52%, VJC gained 2.23%, and VRE climbed 1.7%. Other gainers included MSN, SAB, and PLX.
HDB, VIB, and VIC closed flat, while MWG was the biggest decliner, losing 1.76%.
In the banking sector, EIB advanced 6.48% and NAB rose 0.9%. TPB and STB posted the steepest losses, each down slightly more than 1%.
Steel stocks were mostly down, with VCA losing 2.02%. HPG, the sector’s largest firm, declined 0.19%.
Real estate and construction stocks performed well, with several small- and mid-cap stocks such as SCR, CRE, DXS, and QCG hitting their ceiling prices.
Lender VPB took the lead by liquidity with 53.77 million shares traded, followed by SHB with 41.72 million shares. VIX posted 39.32 million shares, while NVL, EVF, and EIB recorded trading volumes around 28 million shares each.
On the Hanoi Stock Exchange, the HNX-Index added 1.89 points, or 0.83%, to 230.83 points, with 75 advancers and 71 decliners. Trading volume reached 93.7 million shares worth VND1.56 trillion.
