{"id":2881,"date":"2026-04-07T00:34:58","date_gmt":"2026-04-06T17:34:58","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/07\/ap-luc-kep-ghim-chan-thi-truong-chung-khoan-dong-tien-than-trong-giua-lai-suat-hut-von-va-lam-phat-gia-dau\/"},"modified":"2026-04-07T00:34:58","modified_gmt":"2026-04-06T17:34:58","slug":"ap-luc-kep-ghim-chan-thi-truong-chung-khoan-dong-tien-than-trong-giua-lai-suat-hut-von-va-lam-phat-gia-dau","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/07\/ap-luc-kep-ghim-chan-thi-truong-chung-khoan-dong-tien-than-trong-giua-lai-suat-hut-von-va-lam-phat-gia-dau\/","title":{"rendered":"\u00c1p L\u1ef1c K\u00e9p Gh\u00ecm Ch\u00e2n Th\u1ecb Tr\u01b0\u1eddng Ch\u1ee9ng Kho\u00e1n: D\u00f2ng Ti\u1ec1n Th\u1eadn Tr\u1ecdng Gi\u1eefa L\u00e3i Su\u1ea5t H\u00fat V\u1ed1n v\u00e0 L\u1ea1m Ph\u00e1t &#8220;Gi\u00e1 D\u1ea7u&#8221;"},"content":{"rendered":"<div>\n<img decoding=\"async\" src=\"https:\/\/taichinhphowall.com\/wp-content\/uploads\/2026\/04\/image-aHR0cHM6Ly9jYWZlZi52bi9t-3.jpg\" alt=\"tin t\u00e0i ch\u00ednh\" style=\"width:100%; border-radius:8px;\" \/><\/p>\n<p>Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111ang tr\u1ea3i qua giai \u0111o\u1ea1n thanh kho\u1ea3n th\u1ea5p \u0111\u00e1ng b\u00e1o \u0111\u1ed9ng, ph\u1ea3n \u00e1nh t\u00e2m l\u00fd th\u1eadn tr\u1ecdng bao tr\u00f9m gi\u1edbi \u0111\u1ea7u t\u01b0. V\u1edbi gi\u00e1 tr\u1ecb kh\u1edbp l\u1ec7nh trung b\u00ecnh ch\u1ec9 \u0111\u1ea1t <strong>20.300 t\u1ef7 \u0111\u1ed3ng<\/strong> tr\u00ean s\u00e0n HOSE trong tu\u1ea7n t\u1eeb 30\/3 \u0111\u1ebfn 3\/4, th\u1ea5p h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi m\u1ee9c trung b\u00ecnh 20 phi\u00ean, c\u00e2u h\u1ecfi l\u1edbn \u0111\u1eb7t ra l\u00e0: <a href=\"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/07\/co-dong-mwg-roi-bo-ky-luc-du-co-phieu-tang-gap-doi-co-tuc-khung-dong-tien-va-ky-vong-nao-cho-thi-truong-chung\/\">D\u00f2ng ti\u1ec1n<\/a> \u0111ang &#8220;\u0111i \u0111\u00e2u&#8221; v\u00e0 li\u1ec7u th\u1ecb tr\u01b0\u1eddng c\u00f3 s\u1edbm t\u00ecm l\u1ea1i \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng?<\/p>\n<p>Trao \u0111\u1ed5i v\u1edbi Ph\u1ed1 Wall, \u00f4ng <strong>Nguy\u1ec5n Tr\u1ecdng \u0110\u00ecnh T\u00e2m, Gi\u00e1m \u0111\u1ed1c Kh\u1ed1i T\u01b0 v\u1ea5n \u0111\u1ea7u t\u01b0 Kh\u00e1ch h\u00e0ng C\u00e1 nh\u00e2n, Ch\u1ee9ng kho\u00e1n Thi\u00ean Vi\u1ec7t (TVS)<\/strong>, nh\u1eadn \u0111\u1ecbnh di\u1ec5n bi\u1ebfn thanh kho\u1ea3n hi\u1ec7n t\u1ea1i ph\u1ea7n n\u00e0o ph\u1ea3n \u00e1nh s\u1ef1 th\u1eadn tr\u1ecdng mang t\u00ednh ng\u1eafn h\u1ea1n. Th\u1ecb tr\u01b0\u1eddng \u0111ang neo \u1edf m\u1ee9c th\u1ea5p, ch\u1edd \u0111\u1ee3i t\u00edn hi\u1ec7u r\u00f5 r\u00e0ng h\u01a1n \u0111\u1ec3 x\u00e1c nh\u1eadn v\u00f9ng \u0111\u00e1y. \u00d4ng T\u00e2m d\u1ef1 b\u00e1o thanh kho\u1ea3n s\u1ebd c\u1ea3i thi\u1ec7n khi ch\u1ec9 s\u1ed1 h\u00ecnh th\u00e0nh \u0111\u00e1y c\u1ee9ng ho\u1eb7c khi VN-Index quay tr\u1edf l\u1ea1i xu h\u01b0\u1edbng t\u0103ng ng\u1eafn h\u1ea1n.<\/p>\n<h3>L\u00e3i Su\u1ea5t H\u00fat V\u1ed1n: K\u00eanh Ti\u1ec1n G\u1eedi H\u1ea5p D\u1eabn H\u01a1n<\/h3>\n<p>L\u00fd gi\u1ea3i v\u1ec1 vi\u1ec7c d\u00f2ng v\u1ed1n ch\u01b0a quay l\u1ea1i m\u1ea1nh v\u1edbi c\u1ed5 phi\u1ebfu, \u00f4ng T\u00e2m ch\u1ec9 ra m\u1ed9t ph\u1ea7n nguy\u00ean nh\u00e2n \u0111\u1ebfn t\u1eeb s\u1ee9c h\u00fat c\u1ee7a c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0 thay th\u1ebf, \u0111\u1eb7c bi\u1ec7t l\u00e0 k\u00eanh ti\u1ec1n g\u1eedi ng\u00e2n h\u00e0ng. M\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t huy \u0111\u1ed9ng \u0111\u00e3 li\u00ean t\u1ee5c t\u0103ng l\u00ean \u1edf nhi\u1ec1u k\u1ef3 h\u1ea1n k\u1ec3 t\u1eeb cu\u1ed1i n\u0103m 2025, c\u1ea3i thi\u1ec7n \u0111\u00e1ng k\u1ec3 m\u1ee9c sinh l\u1eddi c\u1ee7a d\u00f2ng ti\u1ec1n nh\u00e0n r\u1ed7i. \u0110i\u1ec1u n\u00e0y xu\u1ea5t ph\u00e1t t\u1eeb \u00e1p l\u1ef1c c\u1ea1nh tranh ngu\u1ed3n v\u1ed1n \u0111\u1ea7u v\u00e0o gi\u1eefa c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i, trong b\u1ed1i c\u1ea3nh t\u1ef7 l\u1ec7 d\u01b0 n\u1ee3 t\u00edn d\u1ee5ng tr\u00ean t\u1ed5ng v\u1ed1n huy \u0111\u1ed9ng (LDR) v\u1eabn neo cao t\u1eeb n\u0103m ngo\u00e1i v\u00e0 nhu c\u1ea7u v\u1ed1n c\u1ee7a n\u1ec1n kinh t\u1ebf ti\u1ebfp t\u1ee5c m\u1edf r\u1ed9ng \u0111\u1ec3 h\u01b0\u1edbng t\u1edbi m\u1ee5c ti\u00eau t\u0103ng tr\u01b0\u1edfng GDP hai ch\u1eef s\u1ed1 trong n\u0103m 2026.<\/p>\n<p>D\u00f9 v\u1eady, chuy\u00ean gia TVS v\u1eabn duy tr\u00ec quan \u0111i\u1ec3m t\u00edch c\u1ef1c \u0111\u1ed1i v\u1edbi k\u00eanh \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n trong trung h\u1ea1n. Nhi\u1ec1u c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111i\u1ec1u ch\u1ec9nh \u0111\u00e1ng k\u1ec3, k\u00e9o theo h\u1ec7 s\u1ed1 P\/B xu\u1ed1ng th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi m\u1ee9c trung b\u00ecnh 5 n\u0103m, m\u1edf ra c\u01a1 h\u1ed9i cho nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00edch s\u1ea3n. Ngo\u00e0i ra, th\u1ecb tr\u01b0\u1eddng c\u00f2n \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng h\u01b0\u1edfng l\u1ee3i t\u1eeb tri\u1ec3n v\u1ecdng n\u00e2ng h\u1ea1ng theo ph\u00e2n lo\u1ea1i c\u1ee7a FTSE Russell, c\u00f9ng v\u1edbi t\u00e1c \u0111\u1ed9ng t\u1eeb c\u00e1c ch\u00ednh s\u00e1ch th\u00fac \u0111\u1ea9y ph\u00e1t tri\u1ec3n kinh t\u1ebf nh\u00e0 n\u01b0\u1edbc \u0111\u01b0\u1ee3c tri\u1ec3n khai t\u1eeb \u0111\u1ea7u n\u0103m 2026, nh\u01b0 Ngh\u1ecb quy\u1ebft 79-NQ\/TW v\u00e0 Ngh\u1ecb \u0111\u1ecbnh s\u1ed1 57\/2026\/N\u0110-CP.<\/p>\n<h3>\u00c1p L\u1ef1c L\u1ea1m Ph\u00e1t T\u1eeb Gi\u00e1 D\u1ea7u: Y\u1ebfu T\u1ed1 &#8220;\u00d4ng L\u1edbn&#8221; Chi Ph\u1ed1i T\u00e2m L\u00fd<\/h3>\n<p>B\u00ean c\u1ea1nh y\u1ebfu t\u1ed1 l\u00e3i su\u1ea5t, m\u1ed9t bi\u1ebfn s\u1ed1 l\u1edbn kh\u00e1c \u0111ang chi ph\u1ed1i t\u00e2m l\u00fd nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 gh\u00ecm ch\u00e2n thanh kho\u1ea3n l\u00e0 \u0111\u00e0 t\u0103ng m\u1ea1nh c\u1ee7a gi\u00e1 d\u1ea7u. Gi\u00e1 d\u1ea7u th\u00f4 Brent \u0111\u00e3 duy tr\u00ec xu h\u01b0\u1edbng \u0111i l\u00ean ngay t\u1eeb \u0111\u1ea7u n\u0103m 2026 do c\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb M\u1ef9 &#8211; Iran, tr\u01b0\u1edbc khi b\u1ee9t m\u1ea1nh h\u01a1n trong h\u01a1n m\u1ed9t th\u00e1ng qua khi xung \u0111\u1ed9t qu\u00e2n s\u1ef1 ch\u00ednh th\u1ee9c n\u1ed5 ra. T\u00ednh \u0111\u1ebfn cu\u1ed1i tu\u1ea7n giao d\u1ecbch 30\/3-3\/4, d\u1ea7u Brent giao d\u1ecbch quanh ng\u01b0\u1ee1ng <strong>109 USD\/th\u00f9ng<\/strong>, neo g\u1ea7n v\u00f9ng \u0111\u1ec9nh c\u1ee7a n\u0103m 2026 v\u00e0 t\u0103ng h\u01a1n <strong>50%<\/strong> k\u1ec3 t\u1eeb th\u1eddi \u0111i\u1ec3m Israel v\u00e0 M\u1ef9 b\u1eaft \u0111\u1ea7u tri\u1ec3n khai chi\u1ebfn d\u1ecbch qu\u00e2n s\u1ef1 t\u1ea1i Iran.<\/p>\n<p>Di\u1ec5n bi\u1ebfn n\u00e0y nhanh ch\u00f3ng t\u1ea1o \u00e1p l\u1ef1c lan t\u1ecfa sang m\u1eb7t b\u1eb1ng gi\u00e1 trong n\u01b0\u1edbc. Theo s\u1ed1 li\u1ec7u t\u1eeb C\u1ee5c Th\u1ed1ng k\u00ea \u2013 B\u1ed9 T\u00e0i ch\u00ednh, ch\u1ec9 s\u1ed1 gi\u00e1 x\u0103ng trong th\u00e1ng 3 t\u0103ng <strong>29,7%<\/strong> so v\u1edbi th\u00e1ng tr\u01b0\u1edbc, trong khi ch\u1ec9 s\u1ed1 gi\u00e1 d\u1ea7u diesel t\u0103ng h\u01a1n <strong>57%<\/strong>. \u0110i\u1ec1u n\u00e0y khi\u1ebfn nh\u00f3m Giao th\u00f4ng trong r\u1ed5 t\u00ednh CPI c\u1ee7a Vi\u1ec7t Nam t\u0103ng t\u1edbi <strong>12,85%<\/strong> trong th\u00e1ng, tr\u1edf th\u00e0nh c\u1ea5u ph\u1ea7n t\u00e1c \u0111\u1ed9ng m\u1ea1nh nh\u1ea5t t\u1edbi m\u1ee9c t\u0103ng <strong>1,23%<\/strong> c\u1ee7a CPI th\u00e1ng 3\/2026.<\/p>\n<p>Chuy\u00ean gia TVS \u0111\u00e1nh gi\u00e1 \u0111\u00e0 m\u1edf r\u1ed9ng t\u01b0\u01a1ng \u0111\u1ed1i nhanh c\u1ee7a l\u1ea1m ph\u00e1t l\u00e0 y\u1ebfu t\u1ed1 \u1ea3nh h\u01b0\u1edfng tr\u1ecdng y\u1ebfu t\u1edbi di\u1ec5n bi\u1ebfn c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. \u00c1p l\u1ef1c n\u00e0y \u0111\u1ebfn t\u1eeb hai ph\u00eda: nh\u00e0 \u0111\u1ea7u t\u01b0 lo ng\u1ea1i v\u1ec1 tri\u1ec3n v\u1ecdng kinh doanh c\u1ee7a doanh nghi\u1ec7p trong m\u00f4i tr\u01b0\u1eddng chi ph\u00ed \u0111\u1ea7u v\u00e0o gia t\u0103ng, v\u00e0 Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc s\u1ebd c\u00f3 \u00edt d\u01b0 \u0111\u1ecba h\u01a1n trong \u0111i\u1ec1u h\u00e0nh ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 theo h\u01b0\u1edbng h\u1ed7 tr\u1ee3 \u1ed5n \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng. Ngo\u00e0i ra, n\u1ed7i lo v\u1ec1 an ninh n\u0103ng l\u01b0\u1ee3ng c\u0169ng hi\u1ec7n h\u1eefu n\u1ebfu chi\u1ebfn s\u1ef1 t\u1ea1i Trung \u0110\u00f4ng k\u00e9o d\u00e0i, l\u00e0m gia t\u0103ng \u00e1p l\u1ef1c l\u00ean ngu\u1ed3n cung d\u1ea7u m\u1ecf v\u00e0 kh\u00ed t\u1ef1 nhi\u00ean to\u00e0n c\u1ea7u.<\/p>\n<p>D\u00f9 v\u1eady, TVS cho r\u1eb1ng r\u1ee7i ro n\u00e0y ph\u1ea7n n\u00e0o \u0111ang \u0111\u01b0\u1ee3c ki\u1ec1m ch\u1ebf nh\u1edd c\u00e1c \u0111\u1ed9ng th\u00e1i ch\u1ee7 \u0111\u1ed9ng t\u1eeb ph\u00eda c\u01a1 quan \u0111i\u1ec1u h\u00e0nh. M\u1ed9t s\u1ed1 gi\u1ea3i ph\u00e1p \u0111ang \u0111\u01b0\u1ee3c tri\u1ec3n khai bao g\u1ed3m linh ho\u1ea1t s\u1eed d\u1ee5ng Qu\u1ef9 b\u00ecnh \u1ed5n \u0111\u1ec3 h\u1ea1 nhi\u1ec7t gi\u00e1 x\u0103ng d\u1ea7u, \u0111i\u1ec1u ch\u1ec9nh c\u00e1c m\u1ee9c thu\u1ebf trong c\u00f4ng th\u1ee9c t\u00ednh gi\u00e1 v\u1ec1 m\u1ee9c <strong>0 \u0111\u1ed3ng\/l\u00edt ho\u1eb7c 0%<\/strong>, \u0111\u1ed3ng th\u1eddi t\u0103ng c\u01b0\u1eddng \u0111\u00e0m ph\u00e1n, k\u00fd k\u1ebft c\u00e1c h\u1ee3p \u0111\u1ed3ng n\u0103ng l\u01b0\u1ee3ng v\u1edbi c\u00e1c qu\u1ed1c gia cung \u1ee9ng d\u1ea7u m\u1ecf v\u00e0 kh\u00ed \u0111\u1ed1t, trong \u0111\u00f3 c\u00f3 Li\u00ean bang Nga.<\/p>\n<p><i>Bi\u00ean t\u1eadp: Ph\u1ed1 Wall (Theo ngu\u1ed3n g\u1ed1c)<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111ang tr\u1ea3i qua giai \u0111o\u1ea1n thanh kho\u1ea3n th\u1ea5p \u0111\u00e1ng b\u00e1o \u0111\u1ed9ng, ph\u1ea3n \u00e1nh t\u00e2m l\u00fd th\u1eadn tr\u1ecdng bao tr\u00f9m gi\u1edbi \u0111\u1ea7u t\u01b0. V\u1edbi gi\u00e1 tr\u1ecb kh\u1edbp l\u1ec7nh trung b\u00ecnh ch\u1ec9 \u0111\u1ea1t 20.300 t\u1ef7 \u0111\u1ed3ng tr\u00ean s\u00e0n HOSE trong tu\u1ea7n t\u1eeb 30\/3 \u0111\u1ebfn 3\/4, th\u1ea5p h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":["post-2881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-thi-truong-chung-khoan"],"_links":{"self":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/2881","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=2881"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/2881\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/2878"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=2881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=2881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=2881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}