{"id":12361,"date":"2026-05-03T19:23:43","date_gmt":"2026-05-03T12:23:43","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/03\/20-cong-ty-chung-khoan-thua-lo-trong-quy-1-2026-khi-san-dau-dao-thai-khoc-liet\/"},"modified":"2026-05-03T19:23:43","modified_gmt":"2026-05-03T12:23:43","slug":"20-cong-ty-chung-khoan-thua-lo-trong-quy-1-2026-khi-san-dau-dao-thai-khoc-liet","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/03\/20-cong-ty-chung-khoan-thua-lo-trong-quy-1-2026-khi-san-dau-dao-thai-khoc-liet\/","title":{"rendered":"20 c\u00f4ng ty ch\u1ee9ng kho\u00e1n thua l\u1ed7 trong qu\u00fd 1\/2026: Khi s\u00e0n \u0111\u1ea5u \u0111\u00e0o th\u1ea3i kh\u1ed1c li\u1ec7t"},"content":{"rendered":"
\n

B\u1ee9c tranh l\u1ee3i nhu\u1eadn c\u1ee7a th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh qu\u00fd 1\/2026 \u0111\u00e3 ph\u01a1i b\u00e0y m\u1ed9t th\u1ef1c t\u1ebf k\u00e9m t\u00edch c\u1ef1c khi s\u1ed1 l\u01b0\u1ee3ng \u0111\u01a1n v\u1ecb b\u00e1o l\u1ed7 t\u0103ng v\u1ecdt l\u00ean m\u1ee9c 20 c\u00f4ng ty ch\u1ee9ng kho\u00e1n. Vi\u1ec7c 20 c\u00f4ng ty ch\u1ee9ng kho\u00e1n thua l\u1ed7 trong qu\u00fd 1\/2026 kh\u00f4ng ch\u1ec9 l\u00e0 nh\u1eefng con s\u1ed1 tr\u00ean b\u00e1o c\u00e1o t\u00e0i ch\u00ednh, m\u00e0 c\u00f2n l\u00e0 minh ch\u1ee9ng cho th\u1ea5y s\u1ef1 ph\u00e2n h\u00f3a gay g\u1eaft gi\u1eefa c\u00e1c th\u00e0nh vi\u00ean tr\u00ean c\u00f9ng m\u1ed9t s\u00e0n \u0111\u1ea5u. So v\u1edbi m\u1ee9c 13 c\u00f4ng ty thua l\u1ed7 \u1edf qu\u00fd 4\/2025 v\u00e0 15 c\u00f4ng ty c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc, l\u00e0n s\u00f3ng \u0111\u1ecf n\u00e0y \u0111ang cho th\u1ea5y nh\u1eefng c\u01a1n gi\u00f3 ng\u01b0\u1ee3c th\u1ef1c s\u1ef1 \u0111\u1ed1i v\u1edbi nh\u00f3m quy m\u00f4 v\u1eeba v\u00e0 nh\u1ecf.<\/p>\n

\n \"20
\u1ea2nh t\u1eeb ngu\u1ed3n: cafef.vn<\/em><\/figcaption><\/figure>\n

Th\u1ef1c tr\u1ea1ng 20 c\u00f4ng ty ch\u1ee9ng kho\u00e1n thua l\u1ed7 trong qu\u00fd 1\/2026 v\u00e0 l\u00e0n s\u00f3ng chuy\u1ec3n tr\u1ea1ng th\u00e1i<\/h2>\n

S\u1ef1 gia t\u0103ng s\u1ed1 l\u01b0\u1ee3ng c\u00e1c \u0111\u01a1n v\u1ecb kinh doanh thua l\u1ed7 ph\u1ea3n \u00e1nh m\u1ed9t ngh\u1ecbch l\u00fd l\u00e0 khi thanh kho\u1ea3n th\u1ecb tr\u01b0\u1eddng ch\u01b0a t\u00ecm th\u1ea5y \u0111i\u1ec3m b\u1ee9t ph\u00e1, chi ph\u00ed v\u1eadn h\u00e0nh l\u1ea1i tr\u1edf th\u00e0nh g\u00e1nh n\u1eb7ng qu\u00e1 l\u1edbn \u0111\u1ed1i v\u1edbi nh\u1eefng doanh nghi\u1ec7p thi\u1ebfu l\u1ee3i th\u1ebf v\u1ec1 quy m\u00f4. Nhi\u1ec1u c\u00e1i t\u00ean t\u1eebng l\u00e0 nh\u1eefng th\u1ef1c th\u1ec3 ho\u1ea1t \u0111\u1ed9ng \u1ed5n \u0111\u1ecbnh \u0111\u00e3 b\u1ea5t ng\u1edd chuy\u1ec3n t\u1eeb tr\u1ea1ng th\u00e1i c\u00f3 l\u00e3i sang l\u1ed7 trong qu\u00fd \u0111\u1ea7u n\u0103m nay. \u0110\u00e1ng ch\u00fa \u00fd, Ch\u1ee9ng kho\u00e1n EVS ghi nh\u1eadn m\u1ee9c l\u1ed7 \u0111\u1eadm nh\u1ea5t ng\u00e0nh v\u1edbi 197 t\u1ef7 \u0111\u1ed3ng, \u0111\u1ea3o chi\u1ec1u ho\u00e0n to\u00e0n t\u1eeb kho\u1ea3n l\u00e3i 18 t\u1ef7 \u0111\u1ed3ng c\u00f9ng k\u1ef3. Nguy\u00ean nh\u00e2n ch\u1ee7 y\u1ebfu n\u1eb1m \u1edf s\u1ef1 s\u1ee5t gi\u1ea3m s\u00e2u c\u1ee7a l\u00e3i t\u1eeb t\u00e0i s\u1ea3n FVTPL, k\u1ebft h\u1ee3p c\u00f9ng \u00e1p l\u1ef1c chi ph\u00ed ho\u1ea1t \u0111\u1ed9ng \u0111\u1ed9i l\u00ean 188 t\u1ef7 \u0111\u1ed3ng, g\u1ea5p h\u01a1n ba l\u1ea7n so v\u1edbi n\u0103m tr\u01b0\u1edbc. <\/p>\n

Nh\u00ecn s\u00e2u v\u00e0o b\u1ea3n ch\u1ea5t, xu h\u01b0\u1edbng n\u00e0y kh\u00f4ng ch\u1ec9 d\u1eebng l\u1ea1i \u1edf m\u1ed9t v\u00e0i c\u00e1 th\u1ec3. Nh\u1eefng t\u00ean tu\u1ed5i nh\u01b0 Ch\u1ee9ng kho\u00e1n R\u1ed3ng Vi\u1ec7t (VDSC) hay Ch\u1ee9ng kho\u00e1n Asean c\u0169ng kh\u00f4ng tr\u00e1nh kh\u1ecfi k\u1ecbch b\u1ea3n t\u01b0\u01a1ng t\u1ef1 v\u1edbi m\u1ee9c l\u1ed7 31 t\u1ef7 \u0111\u1ed3ng m\u1ed7i \u0111\u01a1n v\u1ecb. Nh\u1eefng con s\u1ed1 n\u00e0y tr\u1edf n\u00ean \u0111\u00e1ng b\u00e1o \u0111\u1ed9ng h\u01a1n khi \u0111\u1eb7t c\u1ea1nh th\u00e0nh t\u00edch l\u00e3i 22 t\u1ef7 v\u00e0 28 t\u1ef7 \u0111\u1ed3ng m\u00e0 h\u1ecd t\u1eebng \u0111\u1ea1t \u0111\u01b0\u1ee3c c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc. T\u00ecnh tr\u1ea1ng n\u00e0y c\u0169ng lan r\u1ed9ng t\u1edbi Ch\u1ee9ng kho\u00e1n T-Cap (TVB) v\u1edbi m\u1ee9c l\u1ed7 20 t\u1ef7 \u0111\u1ed3ng, hay c\u00e1c \u0111\u01a1n v\u1ecb nh\u1ecf h\u01a1n nh\u01b0 Ch\u1ee9ng kho\u00e1n BIS, Finhay v\u00e0 Ch\u1ee9ng kho\u00e1n Ng\u00e2n h\u00e0ng S\u1ed1 Vikki. S\u1ef1 s\u1ee5t gi\u1ea3m c\u1ee7a c\u00e1c m\u1ea3ng kinh doanh truy\u1ec1n th\u1ed1ng nh\u01b0 m\u00f4i gi\u1edbi, cho vay margin v\u00e0 t\u1ef1 doanh \u0111\u00e3 khi\u1ebfn nh\u1eefng c\u00f4ng ty kh\u00f4ng c\u00f3 h\u1ec7 sinh th\u00e1i m\u1ea1nh ph\u1ea3i ch\u1eadt v\u1eadt xoay x\u1edf trong m\u1ed9t m\u00f4i tr\u01b0\u1eddng c\u1ea1nh tranh ph\u00ed ng\u00e0y c\u00e0ng gay g\u1eaft.<\/p>\n

S\u1ef1 ph\u00e2n h\u00f3a tr\u00ean s\u00e0n \u0111\u1ea5u gi\u1eefa b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng nh\u1ea1y c\u1ea3m<\/h2>\n

Th\u1ef1c t\u1ebf cho th\u1ea5y m\u1ed9t ngh\u1ecbch l\u00fd l\u00e0 trong khi nh\u00f3m \u0111\u1ea7u ng\u00e0nh v\u1eabn duy tr\u00ec \u0111\u01b0\u1ee3c v\u1ecb th\u1ebf nh\u1edd l\u1ee3i th\u1ebf v\u1ec1 v\u1ed1n v\u00e0 t\u1ec7p kh\u00e1ch h\u00e0ng s\u1eb5n c\u00f3, th\u00ec nh\u00f3m ph\u00eda sau l\u1ea1i \u0111ang b\u1ecb k\u1eb9t gi\u1eefa \u00e1p l\u1ef1c chi ph\u00ed v\u1ed1n v\u00e0 s\u1ef1 thi\u1ebfu h\u1ee5t thanh kho\u1ea3n t\u1eeb th\u1ecb tr\u01b0\u1eddng chung. Khi nh\u1eefng c\u01a1n s\u00f3ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng kh\u00f4ng \u0111\u1ee7 m\u1ea1nh \u0111\u1ec3 t\u1ea1o ra l\u1ee3i nhu\u1eadn cho c\u00e1c m\u1ea3ng kinh doanh b\u1ed5 tr\u1ee3, nh\u1eefng c\u00f4ng ty n\u00e0y d\u1ec5 d\u00e0ng r\u01a1i v\u00e0o tr\u1ea1ng th\u00e1i \u00e2m l\u1ee3i nhu\u1eadn. S\u1ef1 mong manh n\u00e0y c\u00e0ng tr\u1edf n\u00ean r\u00f5 n\u00e9t h\u01a1n khi ta quan s\u00e1t th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111\u1ed1i di\u1ec7n giai \u0111o\u1ea1n nh\u1ea1y c\u1ea3m<\/a> sau k\u1ef3 ngh\u1ec9 l\u1ec5, n\u01a1i m\u00e0 m\u1ecdi bi\u1ebfn \u0111\u1ed9ng nh\u1ecf \u0111\u1ec1u c\u00f3 th\u1ec3 g\u00e2y \u00e1p l\u1ef1c l\u00ean c\u00e1c doanh nghi\u1ec7p y\u1ebfu th\u1ebf.<\/p>\n

M\u1ed9t nh\u00f3m kh\u00e1c trong danh s\u00e1ch 20 c\u00f4ng ty ch\u1ee9ng kho\u00e1n thua l\u1ed7 trong qu\u00fd 1\/2026 l\u1ea1i \u0111ang m\u1eafc k\u1eb9t trong v\u00f2ng l\u1eb7p l\u1ed7 k\u00e9o d\u00e0i m\u00e0 ch\u01b0a c\u00f3 d\u1ea5u hi\u1ec7u c\u1ea3i thi\u1ec7n. \u0110i\u1ec3n h\u00ecnh l\u00e0 Ch\u1ee9ng kho\u00e1n Apec v\u1edbi kho\u1ea3n l\u1ed7 38 t\u1ef7 \u0111\u1ed3ng, n\u1ed1i d\u00e0i chu\u1ed7i ng\u00e0y \u1ea3m \u0111\u1ea1m t\u1eeb n\u0103m tr\u01b0\u1edbc. Ch\u1ee9ng kho\u00e1n Artex c\u0169ng ghi nh\u1eadn l\u1ed7 18 t\u1ef7 \u0111\u1ed3ng, c\u00f9ng v\u1edbi \u0111\u00f3 l\u00e0 c\u00e1c \u0111\u01a1n v\u1ecb nh\u01b0 Ch\u1ee9ng kho\u00e1n Vi\u1ec7t, Eurocapital hay K\u1ef7 Nguy\u00ean M\u1edbi. Nh\u1eefng c\u00e1i t\u00ean n\u00e0y \u0111ang loay hoay trong vi\u1ec7c t\u00ecm ki\u1ebfm h\u01b0\u1edbng \u0111i m\u1edbi khi m\u00f4 h\u00ecnh kinh doanh c\u0169 \u0111\u00e3 kh\u00f4ng c\u00f2n ph\u00f9 h\u1ee3p v\u1edbi b\u1ed1i c\u1ea3nh hi\u1ec7n t\u1ea1i. Trong b\u1ed1i c\u1ea3nh \u0111\u00e0 gi\u1ea3m tr\u00ean di\u1ec7n r\u1ed9ng c\u1ea7n \u0111\u01b0\u1ee3c t\u00ednh t\u1edbi c\u00f9ng s\u1ef1 ch\u1ecdn l\u1ecdc k\u1ef9 l\u01b0\u1ee1ng<\/a>, vi\u1ec7c t\u1ed3n t\u1ea1i \u0111\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty n\u00e0y \u0111ang tr\u1edf th\u00e0nh m\u1ed9t b\u00e0i to\u00e1n th\u1eed th\u00e1ch v\u1ec1 n\u0103ng l\u1ef1c qu\u1ea3n tr\u1ecb r\u1ee7i ro v\u00e0 kh\u1ea3 n\u0103ng th\u00edch \u1ee9ng linh ho\u1ea1t.<\/p>\n

Nh\u00ecn r\u1ed9ng ra, s\u1ef1 s\u00e0ng l\u1ecdc c\u1ee7a th\u1ecb tr\u01b0\u1eddng l\u00e0 quy lu\u1eadt t\u1ea5t y\u1ebfu. Nh\u1eefng doanh nghi\u1ec7p kh\u00f4ng th\u1ec3 t\u1ef1 t\u1ed1i \u01b0u h\u00f3a chi ph\u00ed ho\u1eb7c kh\u00f4ng c\u00f3 nh\u1eefng s\u1ea3n ph\u1ea9m kh\u00e1c bi\u1ec7t s\u1ebd d\u1ea7n m\u1ea5t \u0111i kh\u1ea3 n\u0103ng ch\u1ed1ng ch\u1ecbu tr\u01b0\u1edbc nh\u1eefng c\u01a1n gi\u00f3 ng\u01b0\u1ee3c c\u1ee7a chu k\u1ef3 kinh t\u1ebf. C\u00e2u chuy\u1ec7n c\u1ee7a nh\u1eefng \u0111\u01a1n v\u1ecb thua l\u1ed7 trong qu\u00fd \u0111\u1ea7u n\u0103m 2026 c\u0169ng ch\u00ednh l\u00e0 h\u1ed3i chu\u00f4ng c\u1ea3nh b\u00e1o v\u1ec1 m\u1ed9t giai \u0111o\u1ea1n t\u00e1i c\u1ea5u tr\u00fac m\u1ea1nh m\u1ebd h\u01a1n trong t\u01b0\u01a1ng lai, n\u01a1i m\u00e0 ch\u1ec9 nh\u1eefng th\u1ef1c th\u1ec3 c\u00f3 s\u1ee9c kh\u1ecfe t\u00e0i ch\u00ednh b\u1ec1n b\u1ec9 m\u1edbi c\u00f3 th\u1ec3 tr\u1ee5 v\u1eefng tr\u00ean th\u1ecb tr\u01b0\u1eddng.<\/p>\n

B\u00e0i vi\u1ebft \u0111\u00e3 \u0111\u01b0\u1ee3c bi\u00ean t\u1eadp l\u1ea1i t\u1eeb ngu\u1ed3n: cafef.vn<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

B\u1ee9c tranh l\u1ee3i nhu\u1eadn c\u1ee7a th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh qu\u00fd 1\/2026 \u0111\u00e3 ph\u01a1i b\u00e0y m\u1ed9t th\u1ef1c t\u1ebf k\u00e9m t\u00edch c\u1ef1c khi s\u1ed1 l\u01b0\u1ee3ng \u0111\u01a1n v\u1ecb b\u00e1o l\u1ed7 t\u0103ng v\u1ecdt l\u00ean m\u1ee9c 20 c\u00f4ng ty ch\u1ee9ng kho\u00e1n. Vi\u1ec7c 20 c\u00f4ng ty ch\u1ee9ng kho\u00e1n thua l\u1ed7 trong qu\u00fd 1\/2026 kh\u00f4ng ch\u1ec9 l\u00e0 nh\u1eefng con s\u1ed1 tr\u00ean b\u00e1o […]<\/p>\n","protected":false},"author":1,"featured_media":12360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-12361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tong-quan-thi-truong"],"_links":{"self":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/12361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/comments?post=12361"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/12361\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/12360"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=12361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=12361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=12361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}