{"id":15687,"date":"2026-05-20T10:18:36","date_gmt":"2026-05-20T03:18:36","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/20\/dau-khi-va-ngan-hang-no-luc-ganh-diem-trong-boi-canh-sac-do-ap-dao\/"},"modified":"2026-05-20T10:18:36","modified_gmt":"2026-05-20T03:18:36","slug":"dau-khi-va-ngan-hang-no-luc-ganh-diem-trong-boi-canh-sac-do-ap-dao","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/20\/dau-khi-va-ngan-hang-no-luc-ganh-diem-trong-boi-canh-sac-do-ap-dao\/","title":{"rendered":"D\u1ea7u kh\u00ed v\u00e0 ng\u00e2n h\u00e0ng n\u1ed7 l\u1ef1c g\u00e1nh \u0111i\u1ec3m trong b\u1ed1i c\u1ea3nh s\u1eafc \u0111\u1ecf \u00e1p \u0111\u1ea3o"},"content":{"rendered":"
\n

Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n trong phi\u00ean giao d\u1ecbch g\u1ea7n nh\u1ea5t \u0111\u00e3 v\u1ebd n\u00ean m\u1ed9t b\u1ee9c tranh ph\u00e2n h\u00f3a \u0111\u1ea7y t\u01b0\u01a1ng ph\u1ea3n, n\u01a1i s\u1ef1 n\u1ed7 l\u1ef1c c\u1ee7a nh\u00f3m v\u1ed1n h\u00f3a l\u1edbn kh\u00f4ng \u0111\u1ee7 \u0111\u1ec3 kh\u1ecfa l\u1ea5p xu h\u01b0\u1edbng \u0111i\u1ec1u ch\u1ec9nh di\u1ec7n r\u1ed9ng. Trong khi D\u1ea7u kh\u00ed v\u00e0 ng\u00e2n h\u00e0ng n\u1ed7 l\u1ef1c g\u00e1nh \u0111i\u1ec3m \u0111\u1ec3 n\u00edu gi\u1eef ch\u1ec9 s\u1ed1, s\u1eafc \u0111\u1ecf v\u1eabn chi\u1ebfm th\u1ebf th\u01b0\u1ee3ng phong khi \u00e1p l\u1ef1c b\u00e1n bao tr\u00f9m g\u1ea7n m\u1ed9t tr\u0103m c\u1ed5 phi\u1ebfu khi\u1ebfn th\u1ecb tr\u01b0\u1eddng r\u01a1i v\u00e0o tr\u1ea1ng th\u00e1i rung l\u1eafc m\u1ea1nh. \u0110\u00e2y l\u00e0 m\u1ed9t di\u1ec5n bi\u1ebfn ph\u1ea3n \u00e1nh t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng nh\u1ea1y c\u1ea3m ti\u00eau c\u1ef1c v\u1edbi c\u00e1c y\u1ebfu t\u1ed1 \u0111\u1ecba ch\u00ednh tr\u1ecb v\u00e0 l\u1ea1m ph\u00e1t, bu\u1ed9c c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i nh\u00ecn nh\u1eadn l\u1ea1i d\u00f2ng ti\u1ec1n \u0111ang lu\u00e2n chuy\u1ec3n nh\u01b0 th\u1ebf n\u00e0o gi\u1eefa c\u00e1c tr\u1ee5 c\u1ed9t ch\u00ednh.<\/p>\n

\n \"D\u1ea7u
\u1ea2nh t\u1eeb ngu\u1ed3n: vneconomy.vn<\/em><\/figcaption><\/figure>\n

S\u1ef1 ph\u00e2n h\u00f3a c\u1ee7a nh\u00f3m c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn v\u00e0 n\u1ed7 l\u1ef1c n\u00e2ng \u0111\u1ee1 t\u1eeb nh\u00f3m D\u1ea7u kh\u00ed<\/h2>\n

D\u1ea7u kh\u00ed v\u00e0 ng\u00e2n h\u00e0ng n\u1ed7 l\u1ef1c g\u00e1nh \u0111i\u1ec3m tr\u1edf th\u00e0nh t\u00e2m \u0111i\u1ec3m c\u1ee7a d\u00f2ng ti\u1ec1n khi th\u1ecb tr\u01b0\u1eddng r\u01a1i v\u00e0o nh\u1eefng nh\u1ecbp ch\u1ec9nh s\u00e2u. S\u1ef1 m\u1ea1nh m\u1ebd c\u1ee7a nh\u00f3m D\u1ea7u kh\u00ed, v\u1edbi nh\u1eefng c\u00e1i t\u00ean nh\u01b0 PLX t\u0103ng k\u1ecbch tr\u1ea7n hay GAS, BSR, PVD, PVS \u0111\u1ed3ng lo\u1ea1t b\u1ee9t ph\u00e1, kh\u00f4ng ch\u1ec9 xu\u1ea5t ph\u00e1t t\u1eeb c\u00e1c y\u1ebfu t\u1ed1 k\u1ef9 thu\u1eadt ng\u1eafn h\u1ea1n m\u00e0 c\u00f2n n\u1eb1m trong b\u1ed1i c\u1ea3nh bi\u1ebfn \u0111\u1ed9ng ph\u1ee9c t\u1ea1p c\u1ee7a th\u1ecb tr\u01b0\u1eddng n\u0103ng l\u01b0\u1ee3ng to\u00e0n c\u1ea7u. Khi kh\u1ee7ng ho\u1ea3ng n\u0103ng l\u01b0\u1ee3ng \u0111ang chuy\u1ec3n m\u00ecnh sang giai \u0111o\u1ea1n nguy hi\u1ec3m h\u01a1n, c\u00e1c c\u1ed5 phi\u1ebfu d\u1ea7u kh\u00ed th\u01b0\u1eddng tr\u1edf th\u00e0nh h\u1ea7m tr\u00fa \u1ea9n t\u1ea1m th\u1eddi ho\u1eb7c l\u00e0 n\u01a1i d\u00f2ng ti\u1ec1n \u0111\u1ea7u c\u01a1 t\u00ecm \u0111\u1ebfn nh\u1eb1m t\u1ed1i \u01b0u h\u00f3a l\u1ee3i nhu\u1eadn tr\u01b0\u1edbc nh\u1eefng b\u1ea5t \u0111\u1ecbnh v\u1ec1 gi\u00e1 nguy\u00ean li\u1ec7u.<\/p>\n

Tuy nhi\u00ean, s\u1ef1 b\u00f9ng n\u1ed5 c\u1ee7a nh\u00f3m n\u00e0y v\u1eabn mang t\u00ednh ch\u1ea5t \u0111\u01a1n l\u1ebb. Th\u1ef1c t\u1ebf cho th\u1ea5y m\u1ed9t ngh\u1ecbch l\u00fd l\u00e0 d\u00f9 c\u00e1c m\u00e3 d\u1ea7u kh\u00ed t\u0103ng tr\u01b0\u1edfng m\u1ea1nh m\u1ebd, nh\u01b0ng s\u1ef1 lan t\u1ecfa l\u1ea1i v\u00f4 c\u00f9ng h\u1ea1n ch\u1ebf. D\u00f2ng ti\u1ec1n t\u1eadp trung qu\u00e1 cao v\u00e0o s\u1ed1 \u00edt c\u1ed5 phi\u1ebfu \u0111\u00e3 khi\u1ebfn hi\u1ec7u qu\u1ea3 danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1eabn ph\u1ea3i ch\u1ecbu nh\u1eefng thi\u1ec7t h\u1ea1i kh\u00f4ng nh\u1ecf. \u0110i\u1ec1u n\u00e0y minh ch\u1ee9ng cho vi\u1ec7c t\u1ea1i sao \u0111\u01b0\u1eddng cong gi\u00e1 d\u1ea7u t\u01b0\u01a1ng lai kh\u00f4ng th\u1ec3 d\u1ef1 b\u00e1o ch\u1eafc ch\u1eafn gi\u00e1 d\u1ea7u, khi ch\u00ednh s\u1ef1 bi\u1ebfn \u0111\u1ed9ng th\u1ea5t th\u01b0\u1eddng c\u1ee7a gi\u00e1 d\u1ea7u th\u1ebf gi\u1edbi \u0111ang g\u00e2y \u00e1p l\u1ef1c l\u00ean t\u00e2m l\u00fd ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng trong n\u01b0\u1edbc.<\/p>\n

Ng\u00e2n h\u00e0ng v\u00e0 \u00e1p l\u1ef1c gi\u1eef nh\u1ecbp trong c\u01a1n b\u00e3o \u0111\u1ecf<\/h2>\n

B\u00ean c\u1ea1nh D\u1ea7u kh\u00ed v\u00e0 ng\u00e2n h\u00e0ng n\u1ed7 l\u1ef1c g\u00e1nh \u0111i\u1ec3m, nh\u00f3m ng\u00e2n h\u00e0ng c\u0169ng \u0111\u00f3ng vai tr\u00f2 l\u00e0 “ch\u1ed1t ch\u1eb7n” quan tr\u1ecdng. S\u1ef1 ph\u1ee5c h\u1ed3i t\u1eeb VCB, BID hay n\u1ed7 l\u1ef1c \u0111\u1ea3o chi\u1ec1u t\u1eeb c\u00e1c m\u00e3 kh\u00e1c trong nh\u00f3m VN30 \u0111\u00e3 gi\u00fap ch\u1ec9 s\u1ed1 kh\u00f4ng r\u01a1i qu\u00e1 s\u00e2u. Th\u1ebf nh\u01b0ng, n\u1ebfu nh\u00ecn v\u00e0o b\u1ee9c tranh to\u00e0n c\u1ea3nh, \u0111\u1ed9 r\u1ed9ng th\u1ecb tr\u01b0\u1eddng l\u1ea1i th\u1ec3 hi\u1ec7n s\u1ef1 ti\u00eau c\u1ef1c r\u00f5 r\u1ec7t. Khi m\u00e0 h\u00e0ng lo\u1ea1t c\u1ed5 phi\u1ebfu blue-chips v\u1eabn loang s\u1eafc \u0111\u1ecf, \u0111\u1eb7c bi\u1ec7t l\u00e0 s\u1ef1 suy y\u1ebfu t\u1eeb c\u00e1c m\u00e3 v\u1ed1n h\u00f3a l\u1edbn nh\u01b0 MWG, VHM hay VRE, \u00e1p l\u1ef1c l\u00ean VN-Index l\u00e0 r\u1ea5t l\u1edbn.<\/p>\n

Vi\u1ec7c thanh kho\u1ea3n s\u00e0n HoSE t\u0103ng 17% so v\u1edbi phi\u00ean tr\u01b0\u1edbc cho th\u1ea5y m\u1ed9t l\u01b0\u1ee3ng ti\u1ec1n l\u1edbn \u0111\u00e3 tham gia v\u00e0o cu\u1ed9c \u0111\u1ed1i \u0111\u1ea7u gi\u1eefa b\u00ean b\u00e1n v\u00e0 b\u00ean mua. D\u00f9 v\u1eady, ph\u00e2n b\u1ed5 d\u00f2ng ti\u1ec1n v\u1eabn nghi\u00eang v\u1ec1 nh\u00f3m gi\u1ea3m gi\u00e1. S\u1ef1 ph\u00e2n h\u00f3a n\u00e0y kh\u00f4ng ch\u1ec9 \u0111\u1ebfn t\u1eeb \u00e1p l\u1ef1c b\u00e1n r\u00f2ng c\u1ee7a kh\u1ed1i ngo\u1ea1i m\u00e0 c\u00f2n t\u1eeb ch\u00ednh s\u1ef1 l\u01b0\u1ee1ng l\u1ef1 c\u1ee7a d\u00f2ng ti\u1ec1n n\u1ed9i tr\u01b0\u1edbc nh\u1eefng th\u00f4ng tin v\u0129 m\u00f4 kh\u00f3 \u0111o\u00e1n. Trong nh\u1eefng phi\u00ean giao d\u1ecbch nh\u01b0 hi\u1ec7n nay, vi\u1ec7c VN-Index ch\u1ed1t phi\u00ean ch\u1ec9 gi\u1ea3m nh\u1eb9 kh\u00f4ng h\u1eb3n l\u00e0 s\u1ef1 an to\u00e0n, m\u00e0 l\u00e0 k\u1ebft qu\u1ea3 c\u1ee7a s\u1ef1 xoay tua gi\u1eefa c\u00e1c tr\u1ee5 c\u1ed9t nh\u1eb1m duy tr\u00ec m\u1eb7t b\u1eb1ng \u0111i\u1ec3m s\u1ed1.<\/p>\n

H\u1ec7 l\u1ee5y t\u1eeb t\u00e2m l\u00fd nh\u1ea1y c\u1ea3m c\u1ee7a d\u00f2ng ti\u1ec1n<\/h2>\n

Nh\u00ecn s\u00e2u v\u00e0o b\u1ea3n ch\u1ea5t c\u1ee7a \u0111\u1ee3t s\u1ee5t gi\u1ea3m n\u00e0y, ch\u00fang ta th\u1ea5y s\u1ef1 ph\u1ea3n \u1ee9ng th\u00e1i qu\u00e1 c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed1i v\u1edbi c\u00e1c bi\u1ebfn \u0111\u1ed9ng. Khi D\u1ea7u kh\u00ed v\u00e0 ng\u00e2n h\u00e0ng n\u1ed7 l\u1ef1c g\u00e1nh \u0111i\u1ec3m, ch\u00fang ta \u0111ang ch\u1ee9ng ki\u1ebfn m\u1ed9t cu\u1ed9c chi\u1ebfn gi\u1eefa c\u00e1c nh\u00f3m c\u1ed5 phi\u1ebfu d\u1eabn d\u1eaft v\u00e0 xu h\u01b0\u1edbng b\u00e1n th\u00e1o \u1edf c\u00e1c m\u00e3 nh\u1ecf l\u1ebb. H\u01a1n 34% gi\u00e1 tr\u1ecb kh\u1edbp l\u1ec7nh t\u1eadp trung v\u00e0o c\u00e1c m\u00e3 gi\u1ea3m tr\u00ean 1% cho th\u1ea5y \u00e1p l\u1ef1c b\u00e1n \u0111ang th\u1ef1c s\u1ef1 hi\u1ec7n h\u1eefu v\u00e0 kh\u00f4ng h\u1ec1 nh\u1eb9 nh\u00e0ng. \u0110\u00e1ng ch\u00fa \u00fd, c\u00e1c c\u1ed5 phi\u1ebfu c\u00f3 thanh kho\u1ea3n l\u1edbn nh\u01b0 MWG \u0111ang ch\u1ecbu s\u1ee9c \u00e9p b\u00e1n ra quy\u1ebft li\u1ec7t, t\u1ea1o n\u00ean t\u00e2m \u0111i\u1ec3m ti\u00eau c\u1ef1c cho to\u00e0n s\u00e0n.<\/p>\n

D\u00f9 c\u00e1c tr\u1ee5 c\u1ed9t \u0111\u00e3 c\u1ed1 g\u1eafng “g\u1ed3ng g\u00e1nh” \u0111\u1ec3 VN-Index gi\u1eef \u0111\u01b0\u1ee3c \u0111\u1ed9 cao, nh\u01b0ng d\u01b0 \u0111\u1ecba \u0111\u1ec3 ti\u1ebfp t\u1ee5c n\u00e2ng \u0111\u1ee1 n\u1ebfu t\u00ecnh tr\u1ea1ng s\u1eafc \u0111\u1ecf v\u1eabn \u00e1p \u0111\u1ea3o trong c\u00e1c phi\u00ean t\u1edbi l\u00e0 m\u1ed9t d\u1ea5u h\u1ecfi l\u1edbn. Th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i \u0111ang c\u1ea7n nhi\u1ec1u h\u01a1n s\u1ef1 \u0111\u1ed3ng thu\u1eadn thay v\u00ec nh\u1eefng n\u1ed7 l\u1ef1c c\u00e1 bi\u1ec7t t\u1eeb nh\u00f3m D\u1ea7u kh\u00ed hay m\u1ed9t v\u00e0i ng\u00e2n h\u00e0ng qu\u1ed1c doanh. S\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ea7n \u0111\u1ebfn t\u1eeb vi\u1ec7c c\u1ea3i thi\u1ec7n t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng tr\u01b0\u1edbc nh\u1eefng r\u1ee7i ro ngo\u1ea1i lai v\u1ed1n \u0111ang khi\u1ebfn d\u00f2ng ti\u1ec1n tr\u1edf n\u00ean th\u1eadn tr\u1ecdng h\u01a1n bao gi\u1edd h\u1ebft.<\/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":"

Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n trong phi\u00ean giao d\u1ecbch g\u1ea7n nh\u1ea5t \u0111\u00e3 v\u1ebd n\u00ean m\u1ed9t b\u1ee9c tranh ph\u00e2n h\u00f3a \u0111\u1ea7y t\u01b0\u01a1ng ph\u1ea3n, n\u01a1i s\u1ef1 n\u1ed7 l\u1ef1c c\u1ee7a nh\u00f3m v\u1ed1n h\u00f3a l\u1edbn kh\u00f4ng \u0111\u1ee7 \u0111\u1ec3 kh\u1ecfa l\u1ea5p xu h\u01b0\u1edbng \u0111i\u1ec1u ch\u1ec9nh di\u1ec7n r\u1ed9ng. Trong khi D\u1ea7u kh\u00ed v\u00e0 ng\u00e2n h\u00e0ng n\u1ed7 l\u1ef1c g\u00e1nh \u0111i\u1ec3m \u0111\u1ec3 n\u00edu gi\u1eef […]<\/p>\n","protected":false},"author":1,"featured_media":15686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[44],"tags":[],"class_list":["post-15687","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\/15687","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=15687"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/15687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/15686"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=15687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=15687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=15687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}