{"id":69342,"date":"2026-04-08T09:10:17","date_gmt":"2026-04-08T02:10:17","guid":{"rendered":"https:\/\/hbbgroup.net\/mot-the-luc-am-tham-gom-hang-khi-chung-khoan-roi-ve-vung-gia-thap\/"},"modified":"2026-04-08T09:10:17","modified_gmt":"2026-04-08T02:10:17","slug":"mot-the-luc-am-tham-gom-hang-khi-chung-khoan-roi-ve-vung-gia-thap","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/mot-the-luc-am-tham-gom-hang-khi-chung-khoan-roi-ve-vung-gia-thap\/","title":{"rendered":"M\u1ed9t th\u1ebf l\u1ef1c \u00e2m th\u1ea7m “gom h\u00e0ng” khi ch\u1ee9ng kho\u00e1n r\u01a1i v\u1ec1 v\u00f9ng gi\u00e1 th\u1ea5p"},"content":{"rendered":"
<\/figcaption>

S\u00e1ng ng\u00e0y 8\/4, th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111\u1ee9ng tr\u01b0\u1edbc c\u1ed9t m\u1ed1c quan tr\u1ecdng khi FTSE c\u00f4ng b\u1ed1 k\u1ebft qu\u1ea3 \u0111\u00e1nh gi\u00e1 gi\u1eefa k\u1ef3. \u0110\u00e2y \u0111\u01b0\u1ee3c coi l\u00e0 “b\u00e0i ki\u1ec3m tra” then ch\u1ed1t trong l\u1ed9 tr\u00ecnh \u0111\u01b0a Vi\u1ec7t Nam r\u1eddi kh\u1ecfi nh\u00f3m th\u1ecb tr\u01b0\u1eddng c\u1eadn bi\u00ean. <\/p>\n

T\u1ea1i s\u1ef1 ki\u1ec7n Investor Day Qu\u00fd 1 <\/i> do Dragon Capital t\u1ed5 ch\u1ee9c, \u00f4ng \u0110\u1eb7ng Thanh T\u00f9ng \u2013 Gi\u00e1m \u0111\u1ed1c Nghi\u1ec7p v\u1ee5 c\u1ea5p cao \u0111\u00e3 c\u00f3 nh\u1eefng ph\u00e2n t\u00edch s\u00e2u s\u1eafc v\u1ec1 k\u1ecbch b\u1ea3n d\u00f2ng v\u1ed1n ngo\u1ea1i khi Vi\u1ec7t Nam \u0111\u01b0\u1ee3c n\u00e2ng h\u1ea1ng. <\/p>\n

D\u00f2ng v\u1ed1n ngo\u1ea1i r\u1ee5c r\u1ecbch tr\u1edf l\u1ea1i khi \u0111\u1ecbnh gi\u00e1 v\u1ec1 m\u1ee9c h\u1ea5p d\u1eabn\ufeff <\/b> <\/p>\n

Theo \u00f4ng T\u00f9ng, s\u1ef1 kh\u00e1c bi\u1ec7t l\u1edbn nh\u1ea5t khi n\u00e2ng h\u1ea1ng n\u1eb1m \u1edf t\u00ednh ch\u1ea5t c\u1ee7a d\u00f2ng ti\u1ec1n. Trong khi th\u1ecb tr\u01b0\u1eddng c\u1eadn bi\u00ean ph\u1ee5 thu\u1ed9c nhi\u1ec1u v\u00e0o c\u00e1c qu\u1ef9 ch\u1ee7 \u0111\u1ed9ng (Active Funds) v\u1edbi chi\u1ebfn l\u01b0\u1ee3c gi\u1ea3i ng\u00e2n linh ho\u1ea1t v\u00e0 \u0111\u00f4i khi c\u1ea3m t\u00ednh, th\u00ec ph\u00e2n kh\u00fac th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i l\u1ea1i ch\u1ecbu chi ph\u1ed1i m\u1ea1nh b\u1edfi c\u00e1c qu\u1ef9 th\u1ee5 \u0111\u1ed9ng (Passive Funds). <\/p>\n

“Khi Vi\u1ec7t Nam \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o r\u1ed5 ch\u1ec9 s\u1ed1 m\u1edbi, c\u00e1c qu\u1ef9 th\u1ee5 \u0111\u1ed9ng g\u1ea7n nh\u01b0 ch\u1eafc ch\u1eafn s\u1ebd ph\u1ea3i gi\u1ea3i ng\u00e2n \u0111\u1ec3 b\u00e1m s\u00e1t c\u1ea5u ph\u1ea7n ch\u1ec9 s\u1ed1. \u0110\u00e2y l\u00e0 d\u00f2ng ti\u1ec1n mang t\u00ednh \u1ed5n \u0111\u1ecbnh v\u00e0 b\u1ec1n v\u1eefng h\u01a1n cho th\u1ecb tr\u01b0\u1eddng” \u00f4ng T\u00f9ng nh\u1ea5n m\u1ea1nh.\ufeff <\/p>\n

Th\u1ef1c t\u1ebf cho th\u1ea5y, ngay tr\u01b0\u1edbc khi d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng ch\u00ednh th\u1ee9c gi\u1ea3i ng\u00e2n, nhi\u1ec1u nghi\u00ean c\u1ee9u t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c \u0111\u1ed9c l\u1eadp cho bi\u1ebft c\u00e1c qu\u1ef9 ch\u1ee7 \u0111\u1ed9ng \u0111\u00e3 c\u00f3 xu h\u01b0\u1edbng quay tr\u1edf l\u1ea1i, \u0111\u1eb7c bi\u1ec7t trong b\u1ed1i c\u1ea3nh \u0111\u1ecbnh gi\u00e1 th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam tr\u1edf n\u00ean h\u1ea5p d\u1eabn h\u01a1n sau c\u00e1c nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh g\u1ea7n \u0111\u00e2y. <\/i> <\/b> <\/p>\n

\u1ede g\u00f3c \u0111\u1ed9 v\u0129 m\u00f4, chuy\u00ean gia t\u1eeb Dragon Capital kh\u1eb3ng \u0111\u1ecbnh m\u1ee5c ti\u00eau t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf hai ch\u1eef s\u1ed1 c\u1ee7a Vi\u1ec7t Nam l\u00e0 “th\u1ecfi nam ch\u00e2m” thu h\u00fat v\u1ed1n to\u00e0n c\u1ea7u. Trong b\u1ed1i c\u1ea3nh nhi\u1ec1u n\u1ec1n kinh t\u1ebf l\u1edbn \u0111ang gi\u1ea3m t\u1ed1c, m\u1ed9t th\u1ecb tr\u01b0\u1eddng duy tr\u00ec \u0111\u01b0\u1ee3c t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng cao v\u00e0 \u1ed5n \u0111\u1ecbnh nh\u01b0 Vi\u1ec7t Nam tr\u1edf th\u00e0nh \u0111i\u1ec3m \u0111\u1ebfn h\u1ea5p d\u1eabn c\u1ee7a d\u00f2ng v\u1ed1n ngo\u1ea1i. <\/p>\n

N\u00e2ng h\u1ea1ng FTSE ch\u01b0a ph\u1ea3i \u0111\u00edch \u0111\u1ebfn cu\u1ed1i c\ufeff\u00f9ng <\/b> <\/p>\n

Tuy nhi\u00ean, di\u1ec5n bi\u1ebfn d\u00f2ng v\u1ed1n ngo\u1ea1i trong ng\u1eafn h\u1ea1n v\u1eabn ch\u1ecbu \u1ea3nh h\u01b0\u1edfng l\u1edbn t\u1eeb c\u00e1c y\u1ebfu t\u1ed1 b\u00ean ngo\u00e0i. T\u1eeb \u0111\u1ea7u n\u0103m \u0111\u1ebfn nay, kh\u1ed1i ngo\u1ea1i duy tr\u00ec tr\u1ea1ng th\u00e1i b\u00e1n r\u00f2ng, \u0111\u1eb7c bi\u1ec7t m\u1ea1nh trong th\u00e1ng 3 do r\u1ee7i ro \u0111\u1ecba ch\u00ednh tr\u1ecb leo thang t\u1ea1i Trung \u0110\u00f4ng. <\/p>\n

D\u00f9 v\u1eady, chuy\u00ean gia nh\u1eadn \u0111\u1ecbnh vi\u1ec7c r\u00fat v\u1ed1n kh\u00f4ng ch\u1ec9 di\u1ec5n ra t\u1ea1i Vi\u1ec7t Nam m\u00e0 l\u00e0 xu h\u01b0\u1edbng chung khi nh\u00e0 \u0111\u1ea7u t\u01b0 to\u00e0n c\u1ea7u t\u00ecm n\u01a1i tr\u00fa \u1ea9n \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 l\u1ea1i r\u1ee7i ro. \ufeff <\/b> N\u1ebfu lo\u1ea1i tr\u1eeb giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh n\u00e0y, hai th\u00e1ng \u0111\u1ea7u n\u0103m v\u1eabn ghi nh\u1eadn nh\u1eefng phi\u00ean mua r\u00f2ng t\u00edch c\u1ef1c, minh ch\u1ee9ng cho s\u1ef1 quan t\u00e2m hi\u1ec7n h\u1eefu c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf. <\/p>\n

D\u01b0\u1edbi g\u00f3c nh\u00ecn d\u00e0i h\u1ea1n, vi\u1ec7c n\u00e2ng h\u1ea1ng theo ti\u00eau chu\u1ea9n FTSE Russell l\u00e0 c\u1ed9t m\u1ed1c quan tr\u1ecdng nh\u01b0ng ch\u01b0a ph\u1ea3i l\u00e0 \u0111\u00edch \u0111\u1ebfn cu\u1ed1i c\u00f9ng. \u0110\u1ec3 th\u1ef1c s\u1ef1 n\u00e2ng t\u1ea7m th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh, Vi\u1ec7t Nam c\u1ea7n h\u01b0\u1edbng t\u1edbi nh\u1eefng m\u1ee5c ti\u00eau xa h\u01a1n l\u00e0 gia nh\u1eadp r\u1ed5 ch\u1ec9 s\u1ed1 c\u1ee7a MSCI v\u00e0 c\u1ea3i thi\u1ec7n x\u1ebfp h\u1ea1ng t\u00edn nhi\u1ec7m qu\u1ed1c gia. \u0110\u00e2y s\u1ebd l\u00e0 nh\u1eefng y\u1ebfu t\u1ed1 mang t\u00ednh n\u1ec1n t\u1ea3ng, g\u00f3p ph\u1ea7n n\u00e2ng t\u1ea7m th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh Vi\u1ec7t Nam trong t\u01b0\u01a1ng lai. <\/p>\n

<\/b> Do \u0111\u00f3, m\u1eb7c d\u00f9 c\u1ea7n theo d\u00f5i s\u00e1t c\u00e1c bi\u1ebfn s\u1ed1 \u0111\u1ecba ch\u00ednh tr\u1ecb, nh\u01b0ng v\u1edbi s\u1ef1 c\u1ed9ng h\u01b0\u1edfng t\u1eeb k\u1ef3 v\u1ecdng n\u00e2ng h\u1ea1ng v\u00e0 n\u1ed9i l\u1ef1c kinh t\u1ebf m\u1ea1nh m\u1ebd, xu h\u01b0\u1edbng d\u00f2ng v\u1ed1n ngo\u1ea1i quay tr\u1edf l\u1ea1i th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam trong trung h\u1ea1n l\u00e0 ho\u00e0n to\u00e0n c\u00f3 c\u01a1 s\u1edf. <\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

S\u00e1ng ng\u00e0y 8\/4, th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111\u1ee9ng tr\u01b0\u1edbc c\u1ed9t m\u1ed1c quan tr\u1ecdng khi FTSE c\u00f4ng b\u1ed1 k\u1ebft […]<\/p>","protected":false},"author":5,"featured_media":69344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[221],"tags":[],"class_list":["post-69342","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\/69342","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=69342"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/69342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/69344"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=69342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=69342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=69342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}