{"id":15675,"date":"2026-05-20T10:17:33","date_gmt":"2026-05-20T03:17:33","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/20\/tru-ngan-hang-dau-khi-hut-dong-tien-suc-manh-thay-the-tu-nhung-ga-khong-lo\/"},"modified":"2026-05-20T10:17:33","modified_gmt":"2026-05-20T03:17:33","slug":"tru-ngan-hang-dau-khi-hut-dong-tien-suc-manh-thay-the-tu-nhung-ga-khong-lo","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/20\/tru-ngan-hang-dau-khi-hut-dong-tien-suc-manh-thay-the-tu-nhung-ga-khong-lo\/","title":{"rendered":"Tr\u1ee5 ng\u00e2n h\u00e0ng, d\u1ea7u kh\u00ed h\u00fat d\u00f2ng ti\u1ec1n: S\u1ee9c m\u1ea1nh thay th\u1ebf t\u1eeb nh\u1eefng “g\u00e3 kh\u1ed5ng l\u1ed3”"},"content":{"rendered":"
\n

Trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111\u1ed1i m\u1eb7t v\u1edbi s\u1ef1 suy y\u1ebfu \u0111\u00e1ng k\u1ec3 t\u1eeb nh\u00f3m c\u1ed5 phi\u1ebfu h\u1ecd Vin (VIC v\u00e0 VHM), s\u1ef1 tr\u1ed7i d\u1eady m\u1ea1nh m\u1ebd c\u1ee7a nh\u00f3m ng\u00e2n h\u00e0ng v\u00e0 d\u1ea7u kh\u00ed \u0111ang t\u1ea1o n\u00ean m\u1ed9t c\u1ee5c di\u1ec7n ho\u00e0n to\u00e0n kh\u00e1c bi\u1ec7t. Nh\u1eefng “tr\u1ee5 c\u1ed9t” n\u00e0y kh\u00f4ng ch\u1ec9 \u0111\u00f3ng vai tr\u00f2 g\u00e1nh v\u00e1c ch\u1ec9 s\u1ed1 m\u00e0 c\u00f2n tr\u1edf th\u00e0nh t\u00e2m \u0111i\u1ec3m h\u00fat d\u00f2ng ti\u1ec1n, \u0111\u1ecbnh h\u00ecnh l\u1ea1i tr\u1ea1ng th\u00e1i giao d\u1ecbch trong ng\u1eafn h\u1ea1n. Th\u1ef1c t\u1ebf cho th\u1ea5y, vi\u1ec7c xoay tr\u1ee5 \u0111\u00e3 tr\u1edf th\u00e0nh chi\u1ebfn l\u01b0\u1ee3c hi\u1ec7u qu\u1ea3 \u0111\u1ec3 duy tr\u00ec s\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ee7a VN-Index thay v\u00ec k\u1ef3 v\u1ecdng v\u00e0o m\u1ed9t s\u1ef1 b\u1ee9t ph\u00e1 \u0111\u1ed9t ng\u1ed9t trong b\u1ed1i c\u1ea3nh ph\u00e2n h\u00f3a c\u00f2n hi\u1ec7n h\u1eefu.<\/p>\n

\n \"Tr\u1ee5
\u1ea2nh t\u1eeb ngu\u1ed3n: vneconomy.vn<\/em><\/figcaption><\/figure>\n

Tr\u1ee5 ng\u00e2n h\u00e0ng v\u00e0 d\u1ea7u kh\u00ed t\u1ea1o \u0111\u1ed1i tr\u1ecdng tr\u00ean s\u00e0n ch\u1ee9ng kho\u00e1n<\/h2>\n

S\u1ef1 d\u1ecbch chuy\u1ec3n d\u00f2ng ti\u1ec1n hi\u1ec7n nay \u0111ang \u0111\u1ed5 d\u1ed3n v\u00e0o nh\u00f3m ng\u00e2n h\u00e0ng v\u00e0 d\u1ea7u kh\u00ed, thay th\u1ebf v\u1ecb th\u1ebf v\u1ed1n c\u00f3 c\u1ee7a c\u00e1c blue-chip nh\u00f3m Vin. Trong nh\u00f3m c\u1ed5 phi\u1ebfu c\u00f3 thanh kho\u1ea3n cao, ngo\u1ea1i tr\u1eeb nh\u1eefng tr\u01b0\u1eddng h\u1ee3p \u0111\u1eb7c th\u00f9, \u0111a ph\u1ea7n \u0111\u1ec1u quy t\u1ee5 v\u1ec1 hai l\u0129nh v\u1ef1c n\u00e0y. V\u1edbi nh\u00f3m ng\u00e2n h\u00e0ng, d\u00f2ng ti\u1ec1n t\u1eadp trung ch\u1ee7 y\u1ebfu v\u00e0o c\u00e1c m\u00e3 c\u00f3 v\u1ed1n nh\u00e0 n\u01b0\u1edbc nh\u01b0 VCB, CTG v\u00e0 BID. S\u1ef1 hi\u1ec7n di\u1ec7n c\u1ee7a c\u00e1c “\u00f4ng l\u1edbn” n\u00e0y kh\u00f4ng ch\u1ec9 mang t\u00ednh bi\u1ec3u t\u01b0\u1ee3ng m\u00e0 c\u00f2n l\u00e0 minh ch\u1ee9ng cho s\u1ef1 ch\u1ecdn l\u1ecdc kh\u1eaft khe c\u1ee7a d\u00f2ng v\u1ed1n khi th\u1ecb tr\u01b0\u1eddng \u0111\u1ed1i m\u1eb7t v\u1edbi tr\u1ea1ng th\u00e1i “xanh v\u1ecf \u0111\u1ecf l\u00f2ng”.<\/p>\n

\u0110\u1ed1i v\u1edbi nh\u00f3m d\u1ea7u kh\u00ed, t\u00ednh ch\u1ea5t ng\u00e0nh \u0111\u01b0\u1ee3c th\u1ec3 hi\u1ec7n r\u1ea5t r\u00f5 n\u00e9t th\u00f4ng qua bi\u00ean \u0111\u1ed9 t\u0103ng gi\u00e1 \u1ea5n t\u01b0\u1ee3ng c\u1ee7a c\u00e1c m\u00e3 nh\u01b0 BSR, GAS, PLX hay PVD. \u0110\u00e1ng ch\u00fa \u00fd, c\u00e1c c\u1ed5 phi\u1ebfu n\u00e0y \u0111\u00e3 ghi nh\u1eadn hi\u1ec7u su\u1ea5t ng\u1eafn h\u1ea1n n\u1ed5i b\u1eadt v\u1edbi nh\u1eefng con s\u1ed1 t\u0103ng tr\u01b0\u1edfng hai ch\u1eef s\u1ed1 ch\u1ec9 trong v\u00e0i tu\u1ea7n giao d\u1ecbch. Nh\u1eefng di\u1ec5n bi\u1ebfn n\u00e0y kh\u00f4ng h\u1ec1 ng\u1eabu nhi\u00ean khi gi\u00e1 d\u1ea7u th\u1ebf gi\u1edbi t\u0103ng m\u1ea1nh, k\u1ebft h\u1ee3p v\u1edbi c\u00e1c nguy c\u01a1 xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb \u0111ang quay tr\u1edf l\u1ea1i, t\u1ea1o th\u00e0nh ch\u1ea5t x\u00fac t\u00e1c m\u1ea1nh m\u1ebd th\u00fac \u0111\u1ea9y xu h\u01b0\u1edbng ng\u1eafn h\u1ea1n cho nh\u00f3m c\u1ed5 phi\u1ebfu n\u0103ng l\u01b0\u1ee3ng v\u1ed1n \u0111\u00e3 c\u00f3 giai \u0111o\u1ea1n \u0111i\u1ec1u ch\u1ec9nh s\u00e2u tr\u01b0\u1edbc \u0111\u00f3.<\/p>\n

\u0110\u1eb7c t\u00ednh c\u1ee7a d\u00f2ng ti\u1ec1n xoay tr\u1ee5 trong giai \u0111o\u1ea1n hi\u1ec7n nay<\/h2>\n

Nh\u00ecn s\u00e2u v\u00e0o b\u1ea3n ch\u1ea5t c\u1ee7a s\u1ef1 xoay tr\u1ee5, c\u00f3 th\u1ec3 th\u1ea5y \u0111\u00e2y kh\u00f4ng ph\u1ea3i l\u00e0 n\u1ed7 l\u1ef1c \u0111\u1ec3 \u0111\u1ea9y ch\u1ec9 s\u1ed1 b\u1ee9t ph\u00e1 m\u1ea1nh, m\u00e0 l\u00e0 c\u00f4ng c\u1ee5 \u0111\u1ec3 \u1ed5n \u0111\u1ecbnh “kh\u00f4ng kh\u00ed” th\u1ecb tr\u01b0\u1eddng. VN-Index c\u00f3 th\u1ec3 thay \u0111\u1ed5i ch\u1eadm ch\u1ea1p nh\u01b0ng kh\u00f4ng gi\u1ea3m s\u00e2u, v\u00e0 ch\u00ednh s\u1ef1 \u00eam \u0111\u1ec1m n\u00e0y l\u00e0 ti\u1ec1n \u0111\u1ec1 c\u1ea7n thi\u1ebft \u0111\u1ec3 d\u00f2ng ti\u1ec1n ng\u1eafn h\u1ea1n t\u1ef1 tin ho\u1ea1t \u0111\u1ed9ng. D\u00f9 thanh kho\u1ea3n to\u00e0n th\u1ecb tr\u01b0\u1eddng \u1edf m\u1ee9c kho\u1ea3ng 25,5 ngh\u00ecn t\u1ef7 \u0111\u1ed3ng, kh\u00f4ng qu\u00e1 \u0111\u1ed9t bi\u1ebfn, nh\u01b0ng s\u1ef1 t\u1eadp trung d\u00f2ng ti\u1ec1n v\u00e0o nh\u00f3m t\u0103ng gi\u00e1 m\u1ea1nh cho th\u1ea5y s\u1ef1 chuy\u1ec3n d\u1ecbch \u01b0u ti\u00ean c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n

Tuy nhi\u00ean, c\u0169ng c\u1ea7n nh\u00ecn nh\u1eadn m\u1ed9t ngh\u1ecbch l\u00fd l\u00e0 d\u00f9 c\u00e1c tr\u1ee5 ng\u00e2n h\u00e0ng v\u00e0 d\u1ea7u kh\u00ed h\u00fat d\u00f2ng ti\u1ec1n, \u0111\u1ed9 r\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1eabn ch\u01b0a cho th\u1ea5y s\u1ef1 b\u1ee9t ph\u00e1 th\u1ef1c ch\u1ea5t khi s\u1ed1 m\u00e3 gi\u1ea3m gi\u00e1 v\u1eabn chi\u1ebfm \u01b0u th\u1ebf. T\u1ef7 l\u1ec7 t\u0103ng gi\u1ea3m \u1edf c\u00e1c c\u1ed5 phi\u1ebfu ch\u1ec9 \u0111\u1ea1t m\u1ee9c ph\u00e2n h\u00f3a y\u1ebfu, ph\u1ea3n \u00e1nh m\u1ed9t th\u1ecb tr\u01b0\u1eddng v\u1eabn c\u00f2n nhi\u1ec1u r\u00e0o c\u1ea3n. Vi\u1ec7c t\u1eadp trung v\u00e0o nh\u1eefng m\u00e3 \u0111ang l\u00e0 t\u00e2m \u0111i\u1ec3m kh\u00f4ng ch\u1ec9 l\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ec3 t\u1eadn d\u1ee5ng d\u00f2ng ti\u1ec1n m\u00e0 c\u00f2n l\u00e0 c\u00e1ch \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o l\u1ef1c \u0111\u1ee1 b\u1ec1n h\u01a1n cho danh m\u1ee5c, d\u1eabu r\u1eb1ng nh\u00e0 \u0111\u1ea7u t\u01b0 lu\u00f4n ph\u1ea3i tu\u00e2n th\u1ee7 k\u1ef7 lu\u1eadt ch\u1eb7t ch\u1ebd tr\u01b0\u1edbc nh\u1eefng bi\u1ebfn \u0111\u1ed9ng kh\u00f3 l\u01b0\u1eddng c\u1ee7a hi\u1ec7n t\u01b0\u1ee3ng xoay tr\u1ee5.<\/p>\n

Th\u1eadn tr\u1ecdng tr\u01b0\u1edbc nh\u1eefng rung l\u1eafc c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/h3>\n

Trong khi c\u00e1c nh\u00f3m ng\u00e0nh ch\u1ee7 ch\u1ed1t \u0111ang n\u1ed7 l\u1ef1c g\u1ed3ng g\u00e1nh ch\u1ec9 s\u1ed1, th\u1ecb tr\u01b0\u1eddng v\u1eabn \u0111ang ch\u1ecbu \u00e1p l\u1ef1c t\u1eeb nhi\u1ec1u ph\u00eda, d\u1eabn \u0111\u1ebfn nh\u1eefng ph\u1ea3n \u1ee9ng tr\u00e1i chi\u1ec1u. Nh\u01b0 \u0111\u00e3 \u0111\u1ec1 c\u1eadp trong c\u00e1c b\u00e0i vi\u1ebft v\u1ec1 s\u1ef1 ch\u1eefng l\u1ea1i c\u1ee7a nh\u00f3m ng\u00e2n h\u00e0ng v\u00e0 d\u1ea7u kh\u00ed tr\u01b0\u1edbc \u00e1p l\u1ef1c ch\u1ed1t l\u1eddi, c\u0169ng nh\u01b0 nh\u1eefng c\u1ea3nh b\u00e1o v\u1ec1 t\u00ecnh tr\u1ea1ng x\u1ea3 \u0111\u1ed9t bi\u1ebfn \u1edf m\u1ed9t s\u1ed1 nh\u00f3m ng\u00e0nh kh\u00e1c, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n c\u00f3 c\u00e1i nh\u00ecn \u0111a chi\u1ec1u thay v\u00ec ch\u1ec9 nh\u00ecn v\u00e0o ch\u1ec9 s\u1ed1 \u0111i\u1ec3m s\u1ed1. Kh\u00f4ng n\u00ean k\u1ef3 v\u1ecdng qu\u00e1 m\u1ee9c v\u00e0o m\u1ed9t xu h\u01b0\u1edbng b\u1ee9t ph\u00e1 b\u1ec1n v\u1eefng khi th\u1ecb tr\u01b0\u1eddng v\u1eabn \u0111ang m\u1eafc k\u1eb9t gi\u1eefa nh\u1eefng th\u00f4ng tin kinh t\u1ebf tr\u00e1i chi\u1ec1u. M\u1ecdi quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u c\u01a1 \u0111\u1ec1u \u0111\u00f2i h\u1ecfi s\u1ef1 t\u1ec9nh t\u00e1o v\u00e0 tu\u00e2n th\u1ee7 nghi\u00eam ng\u1eb7t c\u00e1c nguy\u00ean t\u1eafc qu\u1ea3n tr\u1ecb r\u1ee7i ro, nh\u1ea5t l\u00e0 khi c\u01a1 h\u1ed9i ng\u1eafn h\u1ea1n kh\u00f4ng c\u00f2n nhi\u1ec1u nh\u01b0 k\u1ef3 v\u1ecdng. M\u1eddi \u0111\u1ed9c gi\u1ea3 xem th\u00eam chi ti\u1ebft v\u1ec1 di\u1ec5n bi\u1ebfn d\u00f2ng ti\u1ec1n t\u1ea1i b\u00e0i vi\u1ebft c\u1ed5 phi\u1ebfu ng\u00e2n h\u00e0ng, d\u1ea7u kh\u00ed ch\u1eefng l\u1ea1i tr\u01b0\u1edbc \u00e1p l\u1ef1c ch\u1ed1t l\u1eddi<\/a> \u0111\u1ec3 hi\u1ec3u r\u00f5 h\u01a1n v\u1ec1 c\u00e1c r\u1ee7i ro ti\u1ec1m \u1ea9n.<\/p>\n

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

Trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111\u1ed1i m\u1eb7t v\u1edbi s\u1ef1 suy y\u1ebfu \u0111\u00e1ng k\u1ec3 t\u1eeb nh\u00f3m c\u1ed5 phi\u1ebfu h\u1ecd Vin (VIC v\u00e0 VHM), s\u1ef1 tr\u1ed7i d\u1eady m\u1ea1nh m\u1ebd c\u1ee7a nh\u00f3m ng\u00e2n h\u00e0ng v\u00e0 d\u1ea7u kh\u00ed \u0111ang t\u1ea1o n\u00ean m\u1ed9t c\u1ee5c di\u1ec7n ho\u00e0n to\u00e0n kh\u00e1c bi\u1ec7t. Nh\u1eefng “tr\u1ee5 c\u1ed9t” n\u00e0y kh\u00f4ng ch\u1ec9 \u0111\u00f3ng vai tr\u00f2 […]<\/p>\n","protected":false},"author":1,"featured_media":15673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[44],"tags":[],"class_list":["post-15675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chung-khoan-viet-nam"],"_links":{"self":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/15675","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=15675"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/15675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/15673"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=15675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=15675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=15675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}