{ "id": 68222, "date": "2026-04-06T08:44:22", "date_gmt": "2026-04-06T01:44:22", "guid": { "rendered": "https:\/\/hbbgroup.net\/mot-kenh-dang-hut-tien-manh-hon-co-phieu-trong-ngan-han\/" }, "modified": "2026-04-06T08:44:22", "modified_gmt": "2026-04-06T01:44:22", "slug": "mot-kenh-dang-hut-tien-manh-hon-co-phieu-trong-ngan-han", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/mot-kenh-dang-hut-tien-manh-hon-co-phieu-trong-ngan-han\/", "title": { "rendered": "M\u1ed9t k\u00eanh \u0111ang “h\u00fat ti\u1ec1n” m\u1ea1nh h\u01a1n c\u1ed5 phi\u1ebfu trong ng\u1eafn h\u1ea1n" }, "content": { "rendered": "
<\/figcaption>

Thanh kho\u1ea3n th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n nh\u1eefng phi\u00ean g\u1ea7n \u0111\u00e2y li\u00ean t\u1ee5c duy tr\u00ec \u1edf v\u00f9ng th\u1ea5p, ph\u1ea3n \u00e1nh t\u00e2m l\u00fd th\u1eadn tr\u1ecdng bao tr\u00f9m l\u00ean d\u00f2ng ti\u1ec1n. Gi\u00e1 tr\u1ecb kh\u1edbp l\u1ec7nh trung b\u00ecnh phi\u00ean trong tu\u1ea7n 30\/3-3\/4 tr\u00ean s\u00e0n HOSE ch\u1ec9 \u0111\u1ea1t m\u1ee9c 20.300 t\u1ef7 \u0111\u1ed3ng, th\u1ea5p h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi trung b\u00ecnh 20 phi\u00ean. <\/p>\n

Sau giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh, nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 xu h\u01b0\u1edbng \u0111\u1ee9ng ngo\u00e0i quan s\u00e1t thay v\u00ec gi\u1ea3i ng\u00e2n tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. \u0110i\u1ec1u n\u00e0y ph\u1ea7n n\u00e0o\u00a0ph\u1ea3n \u00e1nh m\u1ee9c \u0111\u1ed9 d\u00e8 d\u1eb7t c\u1ee7a gi\u1edbi \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc c\u00e1c y\u1ebfu t\u1ed1 b\u1ea5t \u0111\u1ecbnh t\u1eeb b\u00ean ngo\u00e0i, \u0111\u1eb7c bi\u1ec7t l\u00e0 c\u0103ng th\u1eb3ng t\u1ea1i Trung \u0110\u00f4ng. <\/p>\n

B\u1ed1i c\u1ea3nh \u0111\u00f3 c\u0169ng \u0111\u1eb7t ra c\u00e2u h\u1ecfi v\u1ec1 vi\u1ec7c d\u00f2ng ti\u1ec1n \u0111ang \u201c\u0111i \u0111\u00e2u\u201d, khi m\u1ee9c \u0111\u1ed9 quan t\u00e2m v\u1edbi c\u1ed5 phi\u1ebfu c\u00f3 d\u1ea5u hi\u1ec7u suy gi\u1ea3m. <\/p>\n

“D\u00f2ng v\u1ed1n ch\u01b0a quay l\u1ea1i m\u1ea1nh v\u1edbi c\u1ed5 phi\u1ebfu” <\/b> <\/p>\n

Trao \u0111\u1ed5i v\u1ec1 v\u1ea5n \u0111\u1ec1 n\u00e0y, \u00f4ng Nguy\u1ec5n Tr\u1ecdng \u0110\u00ecnh T\u00e2m, Gi\u00e1m \u0111\u1ed1c Kh\u1ed1i T\u01b0 v\u1ea5n \u0111\u1ea7u t\u01b0 KHCN, Ch\u1ee9ng kho\u00e1n Thi\u00ean Vi\u1ec7t (TVS) <\/b> cho r\u1eb1ng di\u1ec5n bi\u1ebfn thanh kho\u1ea3n hi\u1ec7n t\u1ea1i ph\u1ea7n n\u00e0o ph\u1ea3n \u00e1nh s\u1ef1 th\u1eadn tr\u1ecdng mang t\u00ednh ng\u1eafn h\u1ea1n c\u1ee7a th\u1ecb tr\u01b0\u1eddng. <\/p>\n

Gi\u00e1 tr\u1ecb giao d\u1ecbch m\u1ed7i phi\u00ean hi\u1ec7n v\u1eabn \u0111ang neo \u1edf m\u1ee9c th\u1ea5p n\u1ebfu so v\u1edbi giai \u0111o\u1ea1n \u0111\u1ea7u n\u0103m 2026, ph\u00f9 h\u1ee3p trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng \u0111ang ch\u1edd th\u00eam t\u00edn hi\u1ec7u r\u00f5 r\u00e0ng h\u01a1n \u0111\u1ec3 x\u00e1c nh\u1eadn v\u00f9ng \u0111\u00e1y. <\/p>\n

“Thanh kho\u1ea3n th\u01b0\u1eddng s\u1ebd c\u00f3 xu h\u01b0\u1edbng c\u1ea3i thi\u1ec7n khi ch\u1ec9 s\u1ed1 h\u00ecnh th\u00e0nh \u0111\u00e1y c\u1ee9ng ho\u1eb7c khi VN-Index quay tr\u1edf l\u1ea1i xu h\u01b0\u1edbng t\u0103ng ng\u1eafn h\u1ea1n<\/i>“, \u00f4ng T\u00e2m cho hay. \ufeff <\/p>\n

\u1ede g\u00f3c \u0111\u1ed9 d\u00f2ng ti\u1ec1n, v\u1ecb chuy\u00ean gia cho r\u1eb1ng n\u1ebfu d\u00f2ng v\u1ed1n ch\u01b0a quay l\u1ea1i m\u1ea1nh v\u1edbi c\u1ed5 phi\u1ebfu, m\u1ed9t ph\u1ea7n nguy\u00ean nh\u00e2n \u0111\u1ebfn t\u1eeb vi\u1ec7c c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0 thay th\u1ebf \u0111ang tr\u1edf n\u00ean h\u1ea5p d\u1eabn h\u01a1n trong ng\u1eafn h\u1ea1n, \u0111\u1eb7c bi\u1ec7t l\u00e0 k\u00eanh ti\u1ec1n g\u1eedi ng\u00e2n h\u00e0ng. <\/p>\n

S\u1ee9c h\u00fat c\u1ee7a k\u00eanh n\u00e0y \u0111\u1ebfn t\u1eeb vi\u1ec7c m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t huy \u0111\u1ed9ng \u0111\u00e3 li\u00ean t\u1ee5c t\u0103ng l\u00ean \u1edf nhi\u1ec1u k\u1ef3 h\u1ea1n k\u1ec3 t\u1eeb cu\u1ed1i n\u0103m 2025, qua \u0111\u00f3 c\u1ea3i thi\u1ec7n \u0111\u00e1ng k\u1ec3 m\u1ee9c sinh l\u1eddi c\u1ee7a d\u00f2ng ti\u1ec1n nh\u00e0n r\u1ed7i. <\/p>\n

Theo v\u1ecb chuy\u00ean gia TVS, vi\u1ec7c l\u00e3i su\u1ea5t huy \u0111\u1ed9ng \u0111i l\u00ean ch\u1ee7 y\u1ebfu xu\u1ea5t ph\u00e1t t\u1eeb nhu c\u1ea7u c\u1ea1nh tranh ngu\u1ed3n v\u1ed1n \u0111\u1ea7u v\u00e0o gi\u1eefa c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i, trong b\u1ed1i c\u1ea3nh t\u1ef7 l\u1ec7 d\u01b0 n\u1ee3 t\u00edn d\u1ee5ng tr\u00ean t\u1ed5ng v\u1ed1n huy \u0111\u1ed9ng c\u1ee7a to\u00e0n h\u1ec7 th\u1ed1ng (LDR) v\u1eabn neo \u1edf m\u1ee9c cao t\u1eeb n\u0103m ngo\u00e1i. C\u00f9ng v\u1edbi \u0111\u00f3, nhu c\u1ea7u v\u1ed1n c\u1ee7a n\u1ec1n kinh t\u1ebf ti\u1ebfp t\u1ee5c m\u1edf r\u1ed9ng \u0111\u1ec3 h\u01b0\u1edbng t\u1edbi m\u1ee5c ti\u00eau t\u0103ng tr\u01b0\u1edfng GDP hai ch\u1eef s\u1ed1 trong n\u0103m 2026, qua \u0111\u00f3 t\u1ea1o th\u00eam \u00e1p l\u1ef1c l\u00ean m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t. <\/p>\n

D\u00f9 v\u1eady, \u00f4ng T\u00e2m v\u1eabn duy tr\u00ec quan \u0111i\u1ec3m t\u00edch c\u1ef1c \u0111\u1ed1i v\u1edbi k\u00eanh \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n trong trung h\u1ea1n. Theo \u0111\u00f3, kh\u00f4ng \u00edt c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111i\u1ec1u ch\u1ec9nh \u0111\u00e1ng k\u1ec3 trong th\u1eddi gian qua, k\u00e9o theo h\u1ec7 s\u1ed1 P\/B xu\u1ed1ng th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi m\u1ee9c trung b\u00ecnh 5 n\u0103m. \u0110i\u1ec1u n\u00e0y \u0111ang m\u1edf ra c\u01a1 h\u1ed9i cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 theo chi\u1ebfn l\u01b0\u1ee3c t\u00edch s\u1ea3n ho\u1eb7c c\u00f3 t\u1ea7m nh\u00ecn d\u00e0i h\u01a1n. <\/p>\n

Ngo\u00e0i y\u1ebfu t\u1ed1 \u0111\u1ecbnh gi\u00e1, th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n c\u00f2n \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng h\u01b0\u1edfng l\u1ee3i nh\u1edd tri\u1ec3n v\u1ecdng n\u00e2ng h\u1ea1ng theo ph\u00e2n lo\u1ea1i c\u1ee7a FTSE Russell, c\u0169ng nh\u01b0 t\u00e1c \u0111\u1ed9ng t\u1eeb c\u00e1c ch\u00ednh s\u00e1ch th\u00fac \u0111\u1ea9y ph\u00e1t tri\u1ec3n kinh t\u1ebf nh\u00e0 n\u01b0\u1edbc \u0111\u01b0\u1ee3c tri\u1ec3n khai t\u1eeb \u0111\u1ea7u n\u0103m 2026 (Ngh\u1ecb quy\u1ebft 79-NQ\/TW, Ngh\u1ecb \u0111\u1ecbnh s\u1ed1 57\/2026\/N\u0110-CP,…). <\/p>\n

\ufeffY\u1ebfu t\u1ed1 l\u1edbn chi ph\u1ed1i t\u00e2m l\u00fd nh\u00e0 \u0111\u1ea7u t\u01b0 <\/b> <\/p>\n

Thanh kho\u1ea3n s\u1ee5t gi\u1ea3m m\u1ea1nh, m\u1ed9t trong nh\u1eefng bi\u1ebfn s\u1ed1 l\u1edbn \u0111ang chi ph\u1ed1i t\u00e2m l\u00fd nh\u00e0 \u0111\u1ea7u t\u01b0 l\u00e0 \u0111\u00e0 t\u0103ng m\u1ea1nh c\u1ee7a gi\u00e1 d\u1ea7u. <\/p>\n

Gi\u00e1 d\u1ea7u th\u00f4 \u0111\u00e3 duy tr\u00ec xu h\u01b0\u1edbng \u0111i l\u00ean ngay t\u1eeb \u0111\u1ea7u n\u0103m 2026 trong b\u1ed1i c\u1ea3nh c\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb gi\u1eefa M\u1ef9 v\u00e0 Iran gia t\u0103ng, tr\u01b0\u1edbc khi b\u1ee9t m\u1ea1nh h\u01a1n trong h\u01a1n m\u1ed9t th\u00e1ng qua khi xung \u0111\u1ed9t qu\u00e2n s\u1ef1 ch\u00ednh th\u1ee9c n\u1ed5 ra. <\/p>\n

T\u00ednh \u0111\u1ebfn cu\u1ed1i tu\u1ea7n giao d\u1ecbch 30\/3-3\/4, d\u1ea7u Brent giao d\u1ecbch quanh ng\u01b0\u1ee1ng 109 USD\/th\u00f9ng, neo g\u1ea7n v\u00f9ng \u0111\u1ec9nh c\u1ee7a n\u0103m 2026 v\u00e0 t\u0103ng h\u01a1n 50% k\u1ec3 t\u1eeb th\u1eddi \u0111i\u1ec3m Israel v\u00e0 M\u1ef9 b\u1eaft \u0111\u1ea7u tri\u1ec3n khai chi\u1ebfn d\u1ecbch qu\u00e2n s\u1ef1 t\u1ea1i Iran. <\/p>\n

\n

\"M\u1ed9t <\/p>

\n

Gi\u00e1 d\u1ea7u Brent neo cao (\u0111\u00f3ng c\u1eeda phi\u00ean 2\/4)<\/p>\n<\/figcaption><\/figure>\n

Di\u1ec5n bi\u1ebfn n\u00e0y nhanh ch\u00f3ng t\u1ea1o \u00e1p l\u1ef1c lan t\u1ecfa sang m\u1eb7t b\u1eb1ng gi\u00e1 trong n\u01b0\u1edbc. Gi\u00e1 x\u0103ng d\u1ea7u th\u1ebf gi\u1edbi v\u00e0 c\u01b0\u1edbc ph\u00ed v\u1eadn chuy\u1ec3n t\u0103ng k\u00e9o theo xu h\u01b0\u1edbng \u0111i l\u00ean c\u1ee7a gi\u00e1 x\u0103ng d\u1ea7u cung \u1ee9ng t\u1ea1i Vi\u1ec7t Nam. <\/p>\n

Theo s\u1ed1 li\u1ec7u t\u1eeb C\u1ee5c Th\u1ed1ng k\u00ea \u2013 B\u1ed9 T\u00e0i ch\u00ednh, ch\u1ec9 s\u1ed1 gi\u00e1 x\u0103ng trong th\u00e1ng 3 t\u0103ng 29,7% so v\u1edbi th\u00e1ng tr\u01b0\u1edbc, trong khi ch\u1ec9 s\u1ed1 gi\u00e1 d\u1ea7u diesel t\u0103ng h\u01a1n 57%. Qua \u0111\u00f3, nh\u00f3m Giao th\u00f4ng trong r\u1ed5 t\u00ednh CPI c\u1ee7a Vi\u1ec7t Nam t\u0103ng t\u1edbi 12,85% trong th\u00e1ng, tr\u1edf th\u00e0nh c\u1ea5u ph\u1ea7n t\u00e1c \u0111\u1ed9ng m\u1ea1nh nh\u1ea5t t\u1edbi m\u1ee9c t\u0103ng 1,23% c\u1ee7a CPI th\u00e1ng 3\/2026. <\/p>\n

Theo \u0111\u00e1nh gi\u00e1 c\u1ee7a chuy\u00ean gia TVS, \u0111\u00e0 m\u1edf r\u1ed9ng t\u01b0\u01a1ng \u0111\u1ed1i nhanh c\u1ee7a l\u1ea1m ph\u00e1t l\u00e0 y\u1ebfu t\u1ed1 \u1ea3nh h\u01b0\u1edfng tr\u1ecdng y\u1ebfu t\u1edbi di\u1ec5n bi\u1ebfn c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. <\/p>\n

\u00c1p l\u1ef1c n\u00e0y \u0111\u1ebfn t\u1eeb hai ph\u00eda: m\u1ed9t m\u1eb7t, nh\u00e0 \u0111\u1ea7u t\u01b0 lo ng\u1ea1i v\u1ec1 tri\u1ec3n v\u1ecdng kinh doanh c\u1ee7a doanh nghi\u1ec7p trong m\u00f4i tr\u01b0\u1eddng chi ph\u00ed \u0111\u1ea7u v\u00e0o gia t\u0103ng; m\u1eb7t kh\u00e1c, Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc s\u1ebd c\u00f3 \u00edt d\u01b0 \u0111\u1ecba h\u01a1n trong \u0111i\u1ec1u h\u00e0nh ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 theo h\u01b0\u1edbng h\u1ed7 tr\u1ee3 \u1ed5n \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng. Kh\u00f4ng ch\u1ec9 d\u1eebng \u1edf y\u1ebfu t\u1ed1 gi\u00e1 c\u1ea3, th\u1ecb tr\u01b0\u1eddng c\u00f2n ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi n\u1ed7i lo v\u1ec1 an ninh n\u0103ng l\u01b0\u1ee3ng n\u1ebfu chi\u1ebfn s\u1ef1 t\u1ea1i Trung \u0110\u00f4ng k\u00e9o d\u00e0i, l\u00e0m gia t\u0103ng \u00e1p l\u1ef1c l\u00ean ngu\u1ed3n cung d\u1ea7u m\u1ecf v\u00e0 kh\u00ed t\u1ef1 nhi\u00ean to\u00e0n c\u1ea7u. <\/p>\n

D\u00f9 v\u1eady, TVS cho r\u1eb1ng r\u1ee7i ro n\u00e0y ph\u1ea7n n\u00e0o \u0111ang \u0111\u01b0\u1ee3c ki\u1ec1m ch\u1ebf nh\u1edd c\u00e1c \u0111\u1ed9ng th\u00e1i ch\u1ee7 \u0111\u1ed9ng t\u1eeb ph\u00eda c\u01a1 quan \u0111i\u1ec1u h\u00e0nh. Theo \u0111\u00f3, m\u1ed9t s\u1ed1 gi\u1ea3i ph\u00e1p \u0111ang \u0111\u01b0\u1ee3c tri\u1ec3n khai bao g\u1ed3m linh ho\u1ea1t s\u1eed d\u1ee5ng Qu\u1ef9 b\u00ecnh \u1ed5n \u0111\u1ec3 h\u1ea1 nhi\u1ec7t gi\u00e1 x\u0103ng d\u1ea7u, \u0111i\u1ec1u ch\u1ec9nh c\u00e1c m\u1ee9c thu\u1ebf trong c\u00f4ng th\u1ee9c t\u00ednh gi\u00e1 v\u1ec1 m\u1ee9c 0 \u0111\u1ed3ng\/l\u00edt ho\u1eb7c 0%, \u0111\u1ed3ng th\u1eddi t\u0103ng c\u01b0\u1eddng \u0111\u00e0m ph\u00e1n, k\u00fd k\u1ebft c\u00e1c h\u1ee3p \u0111\u1ed3ng n\u0103ng l\u01b0\u1ee3ng v\u1edbi c\u00e1c qu\u1ed1c gia cung \u1ee9ng d\u1ea7u m\u1ecf v\u00e0 kh\u00ed \u0111\u1ed1t, trong \u0111\u00f3 c\u00f3 Li\u00ean bang Nga. <\/p>\n<\/p><\/div>", "protected": false }, "excerpt": { "rendered": "

Thanh kho\u1ea3n th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n nh\u1eefng phi\u00ean g\u1ea7n \u0111\u00e2y li\u00ean t\u1ee5c duy tr\u00ec \u1edf v\u00f9ng th\u1ea5p, ph\u1ea3n \u00e1nh t\u00e2m […]<\/p>", "protected": false }, "author": 5, "featured_media": 68223, "comment_status": "open", "ping_status": "open", "sticky": false, "template": "", "format": "standard", "meta": { "_acf_changed": false, "footnotes": "" }, "categories": [ 221 ], "tags": [], "class_list": [ "post-68222", "post", "type-post", "status-publish", "format-standard", "has-post-thumbnail", "hentry", "category-chung-khoan" ], "acf": [], "_links": { "self": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/68222", "targetHints": { "allow": [ "GET" ] } } ], "collection": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts" } ], "about": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/types\/post" } ], "author": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/users\/5" } ], "replies": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/comments?post=68222" } ], "version-history": [ { "count": 0, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/68222\/revisions" } ], "wp:featuredmedia": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media\/68223" } ], "wp:attachment": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media?parent=68222" } ], "wp:term": [ { "taxonomy": "category", "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/categories?post=68222" }, { "taxonomy": "post_tag", "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/tags?post=68222" } ], "curies": [ { "name": "wp", "href": "https:\/\/api.w.org\/{rel}", "templated": true } ] } }