{"id":68128,"date":"2026-04-06T08:41:53","date_gmt":"2026-04-06T01:41:53","guid":{"rendered":"https:\/\/hbbgroup.net\/chung-khoan-tuan-moi-phep-thu-nang-hang-den-gan-dong-tien-co-quay-lai-thi-truong\/"},"modified":"2026-04-06T08:41:53","modified_gmt":"2026-04-06T01:41:53","slug":"chung-khoan-tuan-moi-phep-thu-nang-hang-den-gan-dong-tien-co-quay-lai-thi-truong","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/chung-khoan-tuan-moi-phep-thu-nang-hang-den-gan-dong-tien-co-quay-lai-thi-truong\/","title":{"rendered":"Ch\u1ee9ng kho\u00e1n tu\u1ea7n m\u1edbi: Ph\u00e9p th\u1eed n\u00e2ng h\u1ea1ng \u0111\u1ebfn g\u1ea7n, d\u00f2ng ti\u1ec1n c\u00f3 quay l\u1ea1i th\u1ecb tr\u01b0\u1eddng?"},"content":{"rendered":"
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\"Ch\u1ee9ng<\/p>

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VN-Index trong \u201cv\u00f9ng \u0111\u1ec7m\u201d \u0111\u1ecbnh gi\u00e1, nh\u01b0ng \u00e1p l\u1ef1c b\u00ean ngo\u00e0i v\u1eabn chi ph\u1ed1i xu h\u01b0\u1edbng – \u1ea2nh: AI<\/p>\n<\/figcaption><\/figure>\n

\u0110\u1ecbnh gi\u00e1 r\u1ebb n\u00e2ng \u0111\u1ee1, nh\u01b0ng r\u1ee7i ro v\u1eabn hi\u1ec7n h\u1eefu\u00a0<\/h2>\n

\u1ede g\u00f3c nh\u00ecn t\u1ed5ng th\u1ec3, \u00f4ng Nguy\u1ec5n Th\u1ebf Minh – Gi\u00e1m \u0111\u1ed1c kh\u1ed1i nghi\u00ean c\u1ee9u v\u00e0 ph\u00e1t tri\u1ec3n kh\u00e1ch h\u00e0ng c\u00e1 nh\u00e2n, Ch\u1ee9ng kho\u00e1n Yuanta Vi\u1ec7t Nam – \u0111\u00e1nh gi\u00e1 m\u1eb7t b\u1eb1ng \u0111\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i \u0111ang tr\u1edf th\u00e0nh l\u1ef1c \u0111\u1ee1 \u0111\u00e1ng ch\u00fa \u00fd c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/p>\n

Theo \u0111\u00f3, P\/E c\u1ee7a VN-Index<\/a> t\u00ednh theo l\u1ee3i nhu\u1eadn 4 qu\u00fd g\u1ea7n nh\u1ea5t \u1edf quanh m\u1ee9c 13 l\u1ea7n, th\u1ea5p h\u01a1n trung b\u00ecnh l\u1ecbch s\u1eed. P\/E d\u1ef1 ph\u00f3ng n\u0103m 2026 kho\u1ea3ng 12 l\u1ea7n, cho th\u1ea5y \u0111\u1ecbnh gi\u00e1 \u0111ang d\u1ea7n tr\u1edf n\u00ean h\u1ea5p d\u1eabn h\u01a1n. C\u00f9ng v\u1edbi \u0111\u00f3, tr\u1ea1ng th\u00e1i qu\u00e1 b\u00e1n trong ng\u1eafn h\u1ea1n c\u00f3 th\u1ec3 k\u00edch ho\u1ea1t l\u1ef1c c\u1ea7u b\u1eaft \u0111\u00e1y quay tr\u1edf l\u1ea1i trong c\u00e1c phi\u00ean t\u1edbi.<\/p>\n

D\u00f9 v\u1eady, \u00f4ng Minh l\u01b0u \u00fd th\u1ecb tr\u01b0\u1eddng ch\u01b0a th\u1ec3 \u0111\u01b0\u1ee3c nh\u00ecn nh\u1eadn m\u1ed9t c\u00e1ch t\u00edch c\u1ef1c ho\u00e0n to\u00e0n. C\u00e2u chuy\u1ec7n n\u00e2ng h\u1ea1ng c\u1ee7a FTSE ch\u1ee7 y\u1ebfu mang t\u00ednh h\u1ed7 tr\u1ee3 t\u00e2m l\u00fd trong ng\u1eafn h\u1ea1n, trong khi r\u1ee7i ro VN-Index \u0111\u00e1nh m\u1ea5t m\u1ed1c 1.600 \u0111i\u1ec3m v\u1eabn hi\u1ec7n h\u1eefu.<\/p>\n

Ngo\u00e0i ra, \u00e1p l\u1ef1c t\u1ec9 gi\u00e1 v\u00e0 vi\u1ec7c l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu Ch\u00ednh ph\u1ee7 M\u1ef9 duy tr\u00ec \u1edf m\u1ee9c cao ti\u1ebfp t\u1ee5c l\u00e0m suy gi\u1ea3m s\u1ee9c h\u1ea5p d\u1eabn c\u1ee7a c\u00e1c t\u00e0i s\u1ea3n r\u1ee7i ro t\u1ea1i th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i. N\u1ebfu c\u00e1c v\u00f9ng h\u1ed7 tr\u1ee3 quan tr\u1ecdng b\u1ecb xuy\u00ean th\u1ee7ng trong b\u1ed1i c\u1ea3nh thanh kho\u1ea3n suy y\u1ebfu, th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 b\u01b0\u1edbc v\u00e0o nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh s\u00e2u h\u01a1n \u0111\u1ec3 t\u00ecm \u0111i\u1ec3m c\u00e2n b\u1eb1ng m\u1edbi.<\/p>\n

T\u1ed5ng th\u1ec3, th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd ti\u1ebfp t\u1ee5c v\u1eadn \u0111\u1ed9ng theo h\u01b0\u1edbng t\u00edch l\u0169y v\u00e0 ph\u00e2n h\u00f3a. D\u00f2ng ti\u1ec1n nhi\u1ec1u kh\u1ea3 n\u0103ng t\u1eadp trung v\u00e0o c\u00e1c doanh nghi\u1ec7p c\u00f3 n\u1ec1n t\u1ea3ng c\u01a1 b\u1ea3n t\u1ed1t, tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng r\u00f5 r\u00e0ng v\u00e0 \u0111\u1ecbnh gi\u00e1 h\u1ee3p l\u00fd, thay v\u00ec lan t\u1ecfa di\u1ec7n r\u1ed9ng.<\/p>\n

\u1ede g\u00f3c nh\u00ecn li\u00ean quan \u0111\u1ebfn n\u00e2ng h\u1ea1ng, \u00f4ng Nguy\u1ec5n Tu\u1ea5n Anh – Ch\u1ee7 t\u1ecbch H\u0110QT T\u1eadp \u0111o\u00e0n FinPeace – cho r\u1eb1ng kh\u1ea3 n\u0103ng th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam kh\u00f4ng \u0111\u01b0\u1ee3c n\u00e2ng h\u1ea1ng trong k\u1ef3 c\u00f4ng b\u1ed1 c\u1ee7a FTSE Russell tu\u1ea7n n\u00e0y l\u00e0 th\u1ea5p.\u00a0<\/p>\n

Tuy nhi\u00ean, m\u1ee9c \u0111\u1ed9 quan t\u00e2m c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 trong n\u01b0\u1edbc v\u1edbi s\u1ef1 ki\u1ec7n n\u00e0y kh\u00f4ng c\u00f2n qu\u00e1 l\u1edbn, khi d\u00f2ng ti\u1ec1n \u0111ang ch\u1ecbu chi ph\u1ed1i nhi\u1ec1u h\u01a1n b\u1edfi c\u00e1c y\u1ebfu t\u1ed1 b\u00ean ngo\u00e0i nh\u01b0 gi\u00e1 d\u1ea7u v\u00e0 s\u1ee9c m\u1ea1nh c\u1ee7a \u0111\u1ed3ng USD.<\/p>\n

Trong b\u1ed1i c\u1ea3nh y\u1ebfu t\u1ed1 v\u0129 m\u00f4 b\u00ean ngo\u00e0i chi ph\u1ed1i, c\u00e2u chuy\u1ec7n n\u00e2ng h\u1ea1ng kh\u00f4ng c\u00f2n l\u00e0 t\u00e2m \u0111i\u1ec3m d\u1eabn d\u1eaft. D\u00f9 v\u1eady, k\u1ecbch b\u1ea3n \u0111\u01b0\u1ee3c n\u00e2ng h\u1ea1ng v\u1eabn \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 cao. Ng\u01b0\u1ee3c l\u1ea1i, n\u1ebfu kh\u00f4ng \u0111\u1ea1t k\u1ef3 v\u1ecdng, th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 ch\u1ecbu m\u1ed9t c\u00fa s\u1ed1c \u1edf m\u1ee9c trung b\u00ecnh, ch\u1ee7 y\u1ebfu mang t\u00ednh t\u00e2m l\u00fd.<\/p>\n

VN-Index gi\u1eb1ng co trong v\u00f9ng t\u00edch l\u0169y h\u1eb9p<\/h2>\n

\u1ede g\u00f3c nh\u00ecn k\u1ef9 thu\u1eadt, C\u00f4ng ty Ch\u1ee9ng kho\u00e1n Vietcap cho r\u1eb1ng \u00e1p l\u1ef1c b\u00e1n ng\u1eafn h\u1ea1n \u0111ang c\u00f3 xu h\u01b0\u1edbng lan r\u1ed9ng, trong khi l\u1ef1c c\u1ea7u suy y\u1ebfu ngay c\u1ea3 khi ch\u1ec9 s\u1ed1 l\u00f9i v\u1ec1 v\u00f9ng h\u1ed7 tr\u1ee3 1.665 – 1.675 \u0111i\u1ec3m. Theo \u0111\u00f3, VN-Index nhi\u1ec1u kh\u1ea3 n\u0103ng ti\u1ebfp t\u1ee5c dao \u0111\u1ed9ng trong bi\u00ean \u0111\u1ed9 h\u1eb9p, v\u1edbi kh\u00e1ng c\u1ef1 g\u1ea7n t\u1ea1i 1.715 – 1.725 \u0111i\u1ec3m.<\/p>\n

Ch\u1ee9ng kho\u00e1n BIDV (BSC) c\u0169ng nh\u1eadn \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng v\u1eabn \u0111ang trong qu\u00e1 tr\u00ecnh t\u00ecm \u0111i\u1ec3m c\u00e2n b\u1eb1ng sau nh\u1ecbp h\u1ed3i ph\u1ee5c tr\u01b0\u1edbc \u0111\u00f3, cho th\u1ea5y xu h\u01b0\u1edbng ng\u1eafn h\u1ea1n ch\u01b0a r\u00f5 r\u00e0ng.<\/p>\n

Trong khi \u0111\u00f3, Ch\u1ee9ng kho\u00e1n Ti\u00ean Phong (TPS) \u0111\u00e1nh gi\u00e1 di\u1ec5n bi\u1ebfn gi\u1ea3m nh\u1eb9 \u0111i k\u00e8m thanh kho\u1ea3n th\u1ea5p cho th\u1ea5y \u00e1p l\u1ef1c b\u00e1n kh\u00f4ng l\u1edbn, ch\u1ee7 y\u1ebfu l\u00e0 rung l\u1eafc k\u1ef9 thu\u1eadt.\u00a0<\/p>\n

Vi\u1ec7c v\u01b0\u1ee3t qua \u0111\u01b0\u1eddng xu h\u01b0\u1edbng gi\u1ea3m ng\u1eafn h\u1ea1n l\u00e0 t\u00edn hi\u1ec7u t\u00edch c\u1ef1c, song thanh kho\u1ea3n d\u01b0\u1edbi m\u1ee9c trung b\u00ecnh 20 phi\u00ean cho th\u1ea5y nh\u1ecbp t\u0103ng hi\u1ec7n t\u1ea1i v\u1eabn mang t\u00ednh h\u1ed3i ph\u1ee5c k\u1ef9 thu\u1eadt, ch\u01b0a \u0111\u1ee7 c\u01a1 s\u1edf x\u00e1c l\u1eadp xu h\u01b0\u1edbng t\u0103ng b\u1ec1n v\u1eefng.<\/p>\n

TPS d\u1ef1 b\u00e1o trong k\u1ecbch b\u1ea3n c\u01a1 s\u1edf, sau khi ti\u1ec7m c\u1eadn v\u00f9ng 1.740 \u0111i\u1ec3m, VN-Index c\u00f3 th\u1ec3 chuy\u1ec3n sang tr\u1ea1ng th\u00e1i t\u00edch l\u0169y trong v\u00f9ng 1.665-1.740 \u0111i\u1ec3m.<\/p>\n

V\u1ec1 chi\u1ebfn l\u01b0\u1ee3c, nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c khuy\u1ebfn ngh\u1ecb duy tr\u00ec giao d\u1ecbch ng\u1eafn h\u1ea1n v\u1edbi t\u1ec9 tr\u1ecdng v\u1eeba ph\u1ea3i, \u01b0u ti\u00ean mua t\u1ea1i v\u00f9ng h\u1ed7 tr\u1ee3 v\u00e0 b\u00e1n t\u1ea1i v\u00f9ng kh\u00e1ng c\u1ef1, \u0111\u1ed3ng th\u1eddi gi\u1eef kho\u1ea3ng 50% ti\u1ec1n m\u1eb7t trong danh m\u1ee5c. Tr\u01b0\u1eddng h\u1ee3p VN-Index \u0111\u00e1nh m\u1ea5t m\u1ed1c 1.665 \u0111i\u1ec3m, n\u00ean h\u1ea1n ch\u1ebf b\u1eaft \u0111\u00e1y v\u00e0 t\u0103ng t\u1ec9 tr\u1ecdng ti\u1ec1n m\u1eb7t \u0111\u1ec3 ch\u1edd c\u01a1 h\u1ed9i r\u00f5 r\u00e0ng h\u01a1n.<\/p>\n

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Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam s\u1eafp \u0111\u00f3n nh\u1eadn th\u00f4ng tin \u0111\u00e1ng ch\u00fa \u00fd khi FTSE d\u1ef1 ki\u1ebfn c\u00f4ng b\u1ed1 k\u1ebft qu\u1ea3 \u0111\u00e1nh gi\u00e1 gi\u1eefa k\u1ef3 v\u00e0o s\u00e1ng ng\u00e0y 8-4-2026 – m\u1ed9t c\u1ed9t m\u1ed1c quan tr\u1ecdng trong l\u1ed9 tr\u00ecnh n\u00e2ng h\u1ea1ng.<\/p>\n

Theo SSI Research, Vi\u1ec7t Nam \u0111ang \u0111i \u0111\u00fang h\u01b0\u1edbng \u0111\u1ec3 \u0111\u01b0\u1ee3c FTSE n\u00e2ng h\u1ea1ng l\u00ean th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i trong n\u0103m 2026. K\u1ecbch b\u1ea3n n\u00e0y c\u00f3 th\u1ec3 k\u00e9o theo d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng \u01b0\u1edbc t\u00ednh kho\u1ea3ng 1,67 t\u1ec9 USD t\u1eeb c\u00e1c qu\u1ef9 ETF to\u00e0n c\u1ea7u. <\/p>\n

N\u1ebfu v\u01b0\u1ee3t qua k\u1ef3 \u0111\u00e1nh gi\u00e1 l\u1ea7n n\u00e0y, th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng s\u1ebd b\u1eaft \u0111\u1ea7u thu h\u00fat d\u00f2ng v\u1ed1n ngo\u1ea1i t\u1eeb c\u00e1c qu\u1ef9 th\u1ee5 \u0111\u1ed9ng ngay t\u1eeb th\u00e1ng 9-2026.<\/p>\n<\/p><\/div>\n

<\/pattern> <\/defs> <\/svg> \u0110\u1ecdc ti\u1ebfp <\/a> <\/pattern> <\/defs> <\/svg> V\u1ec1 trang Ch\u1ee7 \u0111\u1ec1 <\/a> <\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

VN-Index trong \u201cv\u00f9ng \u0111\u1ec7m\u201d \u0111\u1ecbnh gi\u00e1, nh\u01b0ng \u00e1p l\u1ef1c b\u00ean ngo\u00e0i v\u1eabn chi ph\u1ed1i xu h\u01b0\u1edbng – \u1ea2nh: AI \u0110\u1ecbnh […]<\/p>","protected":false},"author":5,"featured_media":68129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[221],"tags":[],"class_list":["post-68128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chung-khoan"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/68128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=68128"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/68128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/68129"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=68128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=68128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=68128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}