{"id":3787,"date":"2022-09-28T15:28:07","date_gmt":"2022-09-28T08:28:07","guid":{"rendered":"https:\/\/bizuni.vn\/dau-tu\/?p=3787"},"modified":"2022-11-11T13:22:44","modified_gmt":"2022-11-11T06:22:44","slug":"lai-suat-ngan-hang-cao-chi-so-chung-khoan-giam","status":"publish","type":"post","link":"https:\/\/bizuni.vn\/dau-tu\/lai-suat-ngan-hang-cao-chi-so-chung-khoan-giam\/","title":{"rendered":"T\u1ea1i sao l\u00e3i su\u1ea5t Ng\u00e2n H\u00e0ng cao th\u00ec ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n c\u00f3 xu h\u01b0\u1edbng gi\u1ea3m, v\u00e0 nh\u1eefng c\u00e2u h\u1ecfi kh\u00e1c"},"content":{"rendered":"<ul>\n<li>\n<h6><span style=\"color: #0000ff;\">T\u1ea1i sao L\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng cao th\u00ec gi\u00e1\/ ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n c\u00f3 xu h\u01b0\u1edbng gi\u1ea3m?<\/span><\/h6>\n<\/li>\n<li>\n<h6><span style=\"color: #0000ff;\">T\u1ea1i sao H\u1ea7u nh\u01b0 kh\u00f4ng ai c\u00f3 th\u1ec3 d\u1ef1 \u0111o\u00e1n \u0111\u00fang ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n?<\/span><\/h6>\n<\/li>\n<li>\n<h6><span style=\"color: #0000ff;\">T\u1ea1i sao ch\u1ee9ng kho\u00e1n Vi\u1ec7t nam l\u1ea1i r\u1ebb h\u01a1n ch\u1ee9ng kho\u00e1n c\u00e1c n\u01b0\u1edbc kh\u00e1c?<\/span><\/h6>\n<\/li>\n<\/ul>\n<hr \/>\n<h5><span style=\"color: #ff6600;\"><strong>C\u00e2u h\u1ecfi 1: <\/strong>T\u1ea0I SAO L\u00c3I SU\u1ea4T NG\u00c2N H\u00c0NG T\u0102NG TH\u00cc GI\u00c1, CH\u1ec8 S\u1ed0 CH\u1ee8NG KHO\u00c1N C\u00d3 XU H\u01af\u1edaNG GI\u1ea2M!?<\/span><\/h5>\n<p>Khi l\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng t\u0103ng th\u00ec d\u00e2n c\u00f3 xu h\u01b0\u1edbng ti\u1ebft ki\u1ec7m chi ti\u00eau \u0111\u1ec3 g\u1eedi ti\u1ec1n v\u00e0o ng\u00e2n h\u00e0ng. Khi \u0111\u00f3 doanh thu c\u1ee7a c\u00e1c doanh nghi\u1ec7p, \u0111\u1eb7c bi\u1ec7t c\u00e1c doanh nghi\u1ec7p c\u00f3 li\u00ean quan tr\u1ef1c ti\u1ebfp \u0111\u1ebfn m\u1ee9c ti\u00eau d\u00f9ng c\u1ee7a d\u00e2n, s\u1ebd b\u1ecb \u1ea3nh h\u01b0\u1edfng gi\u1ea3m. V\u00e0 v\u00ec th\u1ebf l\u1ee3i nhu\u1eadn c\u1ee7a doanh nghi\u1ec7p c\u00f3 th\u1ec3 c\u0169ng s\u1ebd gi\u1ea3m, v\u00e0 gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a doanh nghi\u1ec7p c\u00f3 th\u1ec3 s\u1ebd b\u1ecb \u1ea3nh h\u01b0\u1edfng.<\/p>\n<p>Khi l\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng t\u0103ng th\u00ec d\u00e2n c\u00f3 xu h\u01b0\u1edbng chuy\u1ec3n ti\u1ec1n t\u1eeb \u0111\u1ea7u t\u01b0, l\u01b0\u1edbt s\u00f3ng ch\u1ee9ng kho\u00e1n qua ti\u1ec1n g\u1edfi ng\u00e2n h\u00e0ng. D\u00f2ng ti\u1ec1n c\u1ea7u c\u1ee7a ch\u1ee9ng kho\u00e1n gi\u1ea3m th\u00ec gi\u00e1 ch\u1ee9ng kho\u00e1n c\u00f3 xu h\u01b0\u1edbng gi\u1ea3m.<\/p>\n<p>Khi l\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng t\u0103ng th\u00ec chi ph\u00ed vay n\u1ee3 c\u1ee7a c\u00e1c doanh doanh nghi\u1ec7p, \u0111\u1eb7c bi\u1ec7t l\u00e0 c\u00e1c doanh nghi\u1ec7p c\u00f3 \u0111\u1ed9 t\u00edn nhi\u1ec7m t\u00e0i ch\u00ednh th\u1ea5p, s\u1ebd t\u0103ng theo. V\u00e0 v\u00ec th\u1ebf l\u1ee3i nhu\u1eadn s\u1ebd gi\u1ea3m. Gi\u00e1 tri n\u1ed9i t\u1ea1i c\u1ee7a doanh nghi\u1ec7p s\u1ebd gi\u1ea3m theo.<\/p>\n<p>Khi l\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng t\u0103ng th\u00ec chi ph\u00ed v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu s\u1ebd t\u0103ng. (B\u00ean d\u01b0\u1edbi l\u00e0 link c\u1ee7a b\u00e0i v\u1ec1 v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu). Chi ph\u00ed v\u1ed1n, t\u1ee9c l\u00e0 t\u1ef7 su\u1ea5t chi\u1ebft kh\u1ea5u t\u0103ng th\u00ec gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a doanh nghi\u1ec7p s\u1ebd gi\u1ea3m theo.<\/p>\n<p>Nh\u01b0 v\u1eady L\u00e3i su\u1ea5t NH t\u0103ng th\u00ec ch\u1ee9ng kho\u00e1n s\u1ebd c\u00f3 xu h\u01b0\u1edbng gi\u1ea3m. Tuy v\u1eady th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n th\u01b0\u1eddng s\u1ebd c\u00f3 xu h\u01b0\u1edbng ph\u1ea3n \u1ee9ng qu\u00e1 m\u1ee9c (Over-react). \u0110\u00e1ng l\u1ebb ch\u1ec9 gi\u1ea3m 3 l\u00e0 h\u1ee3p l\u00fd (theo gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i v\u00e0 gi\u00e1 tr\u1ecb so s\u00e1nh), th\u00ec gi\u00e1 ch\u1ee9ng kho\u00e1n s\u1ebd gi\u1ea3m \u0111\u1ebfn 4, 5. Sau m\u1ed9t th\u1eddi gian m\u1ecdi y\u1ebfu t\u1ed1 tr\u1edf n\u00ean c\u0103n b\u1eb1ng, th\u1ecb tr\u01b0\u1eddng b\u00ecnh t\u0129nh l\u1ea1i, th\u1ecb tr\u01b0\u1eddng s\u1ebd s\u1eeda sai, s\u1ebd \u0111i\u1ec1u ch\u1ec9nh (Adjustment). V\u00e0 c\u0169ng s\u1ebd \u0111i\u1ec1u ch\u1ec9nh qu\u00e1 m\u1ee9c. T\u1eeb qu\u00e1 bi quan, tr\u1edf n\u00ean qu\u00e1 l\u1ea1c quan.<\/p>\n<p>\u0110\u00f3 l\u00e0 l\u00fd do th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n l\u00ean xu\u1ed1ng t\u1ea1o ra nh\u1eefng n\u1ed7i bu\u1ed3n, s\u1ef1 lo l\u1eafng xen k\u1ebd v\u1edbi ni\u1ec1m vui v\u00e0 s\u1ef1 ph\u1ea5n kh\u00edch.<\/p>\n<figure id=\"attachment_3790\" aria-describedby=\"caption-attachment-3790\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-3790 size-full\" src=\"https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan.png?resize=1170%2C612&#038;ssl=1\" alt=\"du doan chi so chung khoan\" width=\"1170\" height=\"612\" srcset=\"https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan.png?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan.png?resize=300%2C157&amp;ssl=1 300w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan.png?resize=1024%2C536&amp;ssl=1 1024w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan.png?resize=768%2C402&amp;ssl=1 768w\" sizes=\"auto, (max-width: 1170px) 100vw, 1170px\" data-recalc-dims=\"1\" \/><figcaption id=\"caption-attachment-3790\" class=\"wp-caption-text\">Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n l\u00ean xu\u1ed1ng t\u1ea1o ra nh\u1eefng n\u1ed7i bu\u1ed3n, s\u1ef1 lo l\u1eafng xen k\u1ebd v\u1edbi ni\u1ec1m vui v\u00e0 s\u1ef1 ph\u1ea5n kh\u00edch<\/figcaption><\/figure>\n<h6><span style=\"color: #ff6600;\">C\u00e2u h\u1ecfi 2: T\u1ea0I SAO H\u1ea6U NH\u01af KH\u00d4NG AI C\u00d3 TH\u1ec2 D\u1ef0 \u0110O\u00c1N \u0110\u00daNG CH\u1ec8 S\u1ed0 CH\u1ee8NG KHO\u00c1N?<\/span><\/h6>\n<p>H\u00ecnh ch\u1ee5p b\u00ean d\u01b0\u1edbi l\u00e0 t\u1eeb web Cafef. Theo b\u00e0i vi\u1ebft th\u00ec Ph\u00f2ng ph\u00e2n t\u00edch C\u00f4ng ty C\u1ed5 ph\u1ea7n Ch\u1ee9ng kho\u00e1n KB Vi\u1ec7t Nam (KBSV) v\u00e0o \u0111\u1ea7u n\u0103m d\u1ef1 b\u00e1o ch\u1ec9 s\u1ed1 VN-Index th\u1eddi \u0111i\u1ec3m cu\u1ed1i n\u0103m 2022 \u0111\u1ea1t 1.760 \u0111i\u1ec3m v\u00e0o. B\u00e1o c\u00e1o sau \u0111\u00f3 c\u1ee7a KBVS thay \u0111\u1ed5i d\u1ef1 \u0111o\u00e1n v\u1ec1 1.418. B\u00e1o c\u00e1o m\u1edbi nh\u1ea5t KBSV \u0111i\u1ec1u ch\u1ec9nh d\u1ef1 \u0111o\u00e1n ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n VN-Index v\u00e0o th\u1eddi \u0111i\u1ec3m cu\u1ed1i n\u0103m 2022 v\u1ec1 m\u1ee9c 1.330 \u0111i\u1ec3m.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3791\" src=\"https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan-1.png?resize=1170%2C612&#038;ssl=1\" alt=\"\" width=\"1170\" height=\"612\" srcset=\"https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan-1.png?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan-1.png?resize=300%2C157&amp;ssl=1 300w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan-1.png?resize=1024%2C536&amp;ssl=1 1024w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/du-doan-chi-so-chung-khoan-1.png?resize=768%2C402&amp;ssl=1 768w\" sizes=\"auto, (max-width: 1170px) 100vw, 1170px\" data-recalc-dims=\"1\" \/><\/p>\n<p>C\u00e1c b\u1ea1n \u0111\u1eebng c\u01b0\u1eddi KBVS. C\u00e1c t\u1ed5 ch\u1ee9c chuy\u00ean nghi\u1ec7p kh\u00e1c v\u1ec1 ch\u1ee9ng kho\u00e1n, nh\u01b0 c\u00e1c hay qu\u1ef9 \u0111\u1ea7u t\u01b0, c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n kh\u00e1c, c\u0169ng v\u1eady th\u00f4i. H\u1ea7u nh\u01b0 kh\u00f4ng ai \u0111o\u00e1n \u0111\u01b0\u1ee3c ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n ch\u00ednh x\u00e1c \u0111\u1ea7u. N\u1ebfu h\u1ecd \u0111o\u00e1n \u0111\u01b0\u1ee3c th\u00ec h\u1ecd \u0111\u00e3 l\u1eddi to, gi\u00e0u r\u1ea5t nhanh qua nh\u1eefng c\u01a1n l\u00ean xu\u1ed1ng n\u00e0y. N\u1ebfu ai \u0111o\u00e1n \u0111\u01b0\u1ee3c th\u00ec \u0111\u00e3 b\u00e1n ra ph\u00e1i sinh khi n\u00f3 1.400 \u2013 1.500. N\u1ebfu ai \u0111o\u00e1n \u0111\u01b0\u1ee3c th\u00ec \u0111\u00e3 full ti\u1ec1n khi n\u00f3 xu\u1ed1ng 1.180 \u2013 1.200, \u0111\u1ec3 mua v\u00e0o r\u1ed3i.<\/p>\n<p>T\u00f4i tr\u00edch b\u00e0i \u201cTh\u1ea7y b\u00f3i Ch\u1ee9ng kho\u00e1n!\u201d t\u00f4i \u0111\u00e3 \u0111\u0103ng n\u0103m 2021.<br \/>\n\u201cGi\u00e1 ch\u1ee9ng kho\u00e1n trong ng\u1eafn h\u1ea1n l\u00e0 1 h\u00e0m ph\u1ee9c t\u1ea1p, ph\u1ee5 thu\u1ed9c v\u00e0o lu\u1eadt cung c\u1ea7u v\u00e0 t\u00e2m l\u00fd c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Th\u1ef1c t\u1ebf cho th\u1ea5y ch\u1eb3ng ai \u0111o\u00e1n \u0111\u00fang s\u1ef1 gi\u00e1 ch\u1ee9ng kho\u00e1n v\u1edbi x\u00e1c su\u1ea5t h\u01a1n 50% m\u1ed9t c\u00e1ch v\u1eefng ch\u1eafc c\u1ea3.<\/p>\n<p>Tr\u00ean th\u1ef1c t\u1ebf, v\u00e0 theo cu\u1ed1n s\u00e1ch \u201cB\u01b0\u1edbc \u0111i ng\u1eabu nhi\u00ean tr\u00ean ph\u1ed1 Wall\u201d th\u00ec bi\u1ebfn \u0111\u1ed9ng c\u1ee7a gi\u00e1 ch\u1ee9ng kho\u00e1n l\u00e0 m\u1ed9t chu\u1ed7i ho\u00e0n to\u00e0n \u0111\u1ed9c l\u1eadp, ng\u1eabu nhi\u00ean, kh\u00f4ng th\u1ec3 d\u1ef1 \u0111o\u00e1n. Gi\u00e1 h\u00f4m nay kh\u00f4ng li\u00ean quan g\u00ec \u0111\u1ebfn gi\u00e1 c\u1ee7a nh\u1eefng ng\u00e0y tr\u01b0\u1edbc. Nhi\u1ec1u ng\u00e0y h\u00f4m qua gi\u00e1 xu\u1ed1ng, h\u00f4m nay gi\u00e1 c\u00f3 th\u1ec3 l\u00ean, m\u00e0 c\u0169ng c\u00f3 th\u1ec3 l\u1ea1i ti\u1ebfp t\u1ee5c xu\u1ed1ng.&#8221;<\/p>\n<p>V\u00ec th\u1ebf m\u00e0 \u00d4ng Dominic Scriven, Ch\u1ee7 t\u1ecbch qu\u1ef9 \u0111\u1ea7u t\u01b0 Dragon Capital, \u0111\u00e3 ph\u00e1t bi\u1ec3u &#8216;T\u00f4i \u0111\u1ea7u t\u01b0 30 n\u0103m c\u00f2n kh\u00f4ng ch\u1eafc mai th\u1ecb tr\u01b0\u1eddng t\u0103ng hay gi\u1ea3m&#8217;.<\/p>\n<p>Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 c\u1ee7a ch\u1ee9ng kho\u00e1n c\u0169ng gi\u1ed1ng nh\u01b0 ta qu\u0103ng ng\u1eabu nhi\u00ean 1 \u0111\u1ed3ng xu, ta s\u1ebd kh\u00f4ng bi\u1ebft s\u1ebd l\u00e0 s\u1ea5p hay ng\u1eeda. Tr\u01b0\u1edbc \u0111\u00f3 \u0111\u00e3 c\u00f3 nhi\u1ec1u s\u1ea5p li\u00ean ti\u1ebfp r\u1ed3i, v\u1eabn ti\u1ebfp t\u1ee5c c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c s\u1ea5p. M\u00e0 c\u0169ng c\u00f3 th\u1ec3 l\u1ea7n n\u00e0y n\u00f3 s\u1ebd ng\u1eeda. Ai \u0111o\u00e1n \u0111\u01b0\u1ee3c s\u1ea5p ng\u1eeda, \u0111en \u0111\u1ecf, ch\u1eb5n l\u1ebb, l\u1edbn nh\u1ecf th\u00ec v\u00e0o casino&#8230; s\u1ebd r\u1ea5t mau gi\u00e0u. <br \/>\nNh\u01b0ng \u0111i\u1ec1u n\u00e0y th\u00ec ch\u00fang ta bi\u1ebft, g\u1ea7n nh\u01b0 ch\u1eafc ch\u1eafn! \u0110\u00f3 l\u00e0 n\u1ebfu ch\u00fang ta qu\u0103ng 1 \u0111\u1ed3ng xu (kh\u00f4ng b\u1ecb l\u1ec7ch), v\u1edbi s\u1ed1 l\u1ea7n \u0111\u1ee7 l\u1edbn. 1,000 l\u1ea7n, ho\u1eb7c 10,000 l\u1ea7n th\u00ec ch\u00fang ta s\u1ebd c\u00f3 k\u1ebft qu\u1ea3 r\u1ea5t g\u1ea7n v\u1edbi 50% s\u1ea5p, 50% ng\u1eeda. Ch\u00fang ta l\u1eafc con x\u00fac x\u1eafc v\u1edbi s\u1ed1 l\u1ea7n \u0111\u1ee7 l\u1edbn, th\u00ec s\u1ed1 m\u1eb7t xu\u1ea5t hi\u1ec7n s\u1ebd r\u1ea5t g\u1ea7n v\u1edbi 1\/6 c\u1ee7a t\u1ed5ng s\u1ed1 l\u1ea7n.<\/p>\n<p>Ch\u1ee9ng kho\u00e1n c\u0169ng v\u1eady. M\u1ed7i ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n, m\u1ed7i c\u1ed5 phi\u1ebfu \u0111\u1ec1u c\u00f3 t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn b\u00ecnh qu\u00e2n ng\u00e0y \u0111i c\u00f9ng v\u1edbi 1 \u0111\u1ed9 l\u1ec7ch chu\u1ea9n ri\u00eang c\u1ee7a n\u00f3. N\u1ebfu b\u1ea1n \u0111\u1ea7u t\u01b0 ng\u1eafn h\u1ea1n th\u00ec k\u1ebft qu\u1ea3 nh\u1eadn \u0111\u01b0\u1ee3c \u1ebd kh\u00e1c v\u1edbi t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn b\u00ecnh qu\u00e2n ng\u00e0y, h\u00ean xui m\u00e0.<\/p>\n<p>Nh\u01b0ng n\u1ebfu b\u1ea1n \u0111\u1ea7u t\u01b0 \u0111\u1ee7 d\u00e0i (\u0111\u1ee7 s\u1ed1 ng\u00e0y c\u1ea7n thi\u1ebft), b\u1ea1n s\u1ebd \u0111\u1ea1t \u0111\u01b0\u1ee3c t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn g\u1ea7n v\u1edbi TSLN b\u00ecnh qu\u00e2n ng\u00e0y c\u1ee7a c\u1ed5 phi\u1ebfu.\u201d<\/p>\n<h6><span style=\"color: #ff6600;\"><strong>C\u00e2u h\u1ecfi 3: T\u1ea0I SAO CH\u1ee8NG KHO\u00c1N VI\u1ec6T NAM L\u1ea0I R\u1eba H\u01a0N CH\u1ee8NG KHO\u00c1N C\u00c1C N\u01af\u1edaC KH\u00c1C.<\/strong><\/span><\/h6>\n<figure id=\"attachment_3792\" aria-describedby=\"caption-attachment-3792\" style=\"width: 2121px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-3792 size-full\" src=\"https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/2121x1414.jpg?resize=1170%2C780&#038;ssl=1\" alt=\"\" width=\"1170\" height=\"780\" srcset=\"https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/2121x1414.jpg?w=2121&amp;ssl=1 2121w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/2121x1414.jpg?resize=300%2C200&amp;ssl=1 300w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/2121x1414.jpg?resize=1024%2C683&amp;ssl=1 1024w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/2121x1414.jpg?resize=768%2C512&amp;ssl=1 768w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/2121x1414.jpg?resize=1536%2C1024&amp;ssl=1 1536w, https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/2121x1414.jpg?resize=2048%2C1365&amp;ssl=1 2048w\" sizes=\"auto, (max-width: 1170px) 100vw, 1170px\" data-recalc-dims=\"1\" \/><figcaption id=\"caption-attachment-3792\" class=\"wp-caption-text\">Theo Vietstock, gi\u00e1 tr\u1ecb giao d\u1ecbch c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n chi\u1ebfm kho\u1ea3ng 80% &#8211; 85% th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam. T\u1ef7 l\u1ec7 n\u00e0y c\u1ee7a c\u00e1c n\u01b0\u1edbc khu v\u1ef1c l\u00e0 50% &#8211; 60%, c\u1ee7a M\u1ef9: 20% &#8211; 30%.<\/figcaption><\/figure>\n<p>H\u00f4m qua trang FanPage Th\u00f4ng tin ch\u00ednh ph\u1ee7 \u0111\u0103ng 1 b\u00e0i status m\u00e0u n\u1ed9i dung nh\u01b0 sau:<br \/>\n&#8220;Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 v\u1eabn h\u1ea5p d\u1eabn khi P\/E (d\u1ef1a tr\u00ean s\u1ed1 li\u1ec7u l\u1ee3i nhu\u1eadn qu\u00e1 kh\u1ee9) hi\u1ec7n t\u1ea1i kho\u1ea3ng 12 l\u1ea7n, trong khi c\u00e1c th\u1ecb tr\u01b0\u1eddng kh\u00e1c (Th\u00e1i Lan, Philippines, Malaysia hay Indonesia) \u0111\u1ec1u cao h\u01a1n Vi\u1ec7t Nam (kho\u1ea3ng 16 l\u1ea7n). <br \/>\nROE c\u1ee7a VN-Index \u0111\u1ea1t kho\u1ea3ng 15%, cao h\u01a1n m\u1ee9c 9 \u2013 10% c\u1ee7a c\u00e1c n\u01b0\u1edbc trong khu v\u1ef1c. B\u00ean c\u1ea1nh \u0111\u00f3, t\u1ec9 gi\u00e1 \u1ed5n \u0111\u1ecbnh l\u00e0 y\u1ebfu t\u1ed1 quan tr\u1ecdng gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i quan t\u00e2m h\u01a1n t\u1edbi th\u1ecb tr\u01b0\u1eddng ch\u00fang ta.&#8221; H\u00ecnh ch\u1ee5p b\u00ean ph\u1ea3i.<\/p>\n<p>Theo t\u00f4i, c\u00f3 hai l\u00fd do.<br \/>\n&#8211; L\u00fd do th\u1ee9 nh\u1ea5t l\u00e0 nh\u1eefng th\u1ecb tr\u01b0\u1edbng l\u00e2u \u0111\u1eddi lu\u00f4n c\u00f3 m\u1ee9c gi\u00e1 so s\u00e1nh t\u01b0\u01a1ng qua v\u1edbi l\u1ee3i nhu\u1eadn (PE, PB) nh\u1ec9nh h\u01a1n th\u1ecb tr\u01b0\u1eddng m\u1edbi ph\u00e1t tri\u1ec3n.<br \/>\n&#8211; L\u00fd do th\u1ee9 hai, th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam g\u1ed3m nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n n\u00ean m\u1ee9c bi quan, ho\u1ea3ng lo\u1ea1n th\u01b0\u1eddng n\u1eb7ng n\u1ec1 h\u01a1n th\u1ecb tr\u01b0\u1eddng c\u00f3 \u00edt nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n.<\/p>\n<p>V\u00ec nhi\u1ec1u nguy\u00ean nh\u00e2n kh\u00e1c nhau, gi\u00e1 tr\u1ecb giao d\u1ecbch c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c, nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi th\u1ecb tr\u01b0\u1eddng c\u00e1c n\u01b0\u1edbc kh\u00e1c. Theo Vietstock, gi\u00e1 tr\u1ecb giao d\u1ecbch c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n chi\u1ebfm kho\u1ea3ng 80% &#8211; 85% th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam. T\u1ef7 l\u1ec7 n\u00e0y c\u1ee7a c\u00e1c n\u01b0\u1edbc khu v\u1ef1c l\u00e0 50% &#8211; 60%, c\u1ee7a M\u1ef9: 20% &#8211; 30%.<\/p>\n<p>V\u00ec nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n v\u00ec thi\u1ebfu ki\u1ebfn th\u1ee9c t\u00e0i ch\u00ednh c\u01a1 b\u1ea3n, thi\u1ebfu s\u1ef1 t\u00ecm hi\u1ec3u th\u00f4ng tin&#8230; v\u00e0 b\u1ecb &#8220;T\u00e0i ch\u00ednh h\u00e0nh vi&#8221;, ti\u1ebfng Anh l\u00e0 Behavioral Finance v\u1edbi m\u1ee9c \u0111\u1ed9 n\u1eb7ng h\u01a1n nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c, nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p n\u00ean \u0111a s\u1ed1 nh\u1eefng quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 l\u00e0 phi l\u00fd tr\u00ed. <br \/>\n&#8220;H\u00e0nh vi t\u00e0i ch\u00ednh&#8221; l\u00e0 ngu\u1ed3n g\u1ed1c c\u1ee7a nh\u1eefng ph\u1ea3n \u1ee9ng qu\u00e1 m\u1ee9c (Over-react). \u0110\u00e1ng l\u1ebb ch\u1ec9 gi\u1ea3m 3 l\u00e0 h\u1ee3p l\u00fd (theo gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i v\u00e0 gi\u00e1 tr\u1ecb so s\u00e1nh), th\u00ec gi\u00e1 ch\u1ee9ng kho\u00e1n s\u1ebd gi\u1ea3m \u0111\u1ebfn 4, 5.<\/p>\n<p>Nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p, nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c bi\u1ebft kh\u00e1 r\u00f5 vi\u1ec7c n\u00e0y. Nh\u01b0ng v\u00ec v\u1ed1n, gi\u00e1 tr\u1ecb giao d\u1ecbch c\u1ee7a h\u1ecd chi\u1ebfm t\u1ef7 l\u1ec7 nh\u1ecf n\u00ean h\u1ecd kh\u00f4ng th\u1ec3 thay \u0111\u1ed5i c\u1ee5c di\u1ec7n. Th\u1eadm ch\u00ed, m\u1ed9t s\u1ed1 nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c, chuy\u00ean nghi\u1ec7p c\u00f2n t\u1eadn d\u1ee5ng \u0111\u01b0\u1ee3c nh\u1eefng c\u00fa xu\u1ed1ng n\u00e0y.<\/p>\n<p>Th\u1ef1c t\u1ebf \u0111\u00e3 cho th\u1ea5y <a href=\"https:\/\/v.bizuni.vn\/video\/asset\/trailer\/dau-tu-co-phieu-dai-han-dat-ty-suat-loi-nhuan-cao.mp4\">trong d\u00e0i h\u1ea1n ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00e1c th\u1ecb tr\u01b0\u1eddng \u0111\u1ec1u \u0111i l\u00ean<\/a>. N\u1ebfu ch\u00fang ta l\u1ea5y m\u1ed9t th\u1eddi gian \u0111\u1ee7 d\u00e0i, 10 &#8211; 20 n\u0103m, th\u00ec h\u1ea7u h\u1ebft c\u00e1c ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n tr\u00ean th\u1ebf gi\u1edbi \u0111\u1ec1u t\u0103ng v\u1edbi t\u1ed1c \u0111\u1ed9 b\u00ecnh qu\u00e2n g\u1ea5p 1.5 &#8211; 2.5 l\u1ea7n t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1eddng GDP. L\u00fd do: L\u1ee3i nhu\u1eadn, gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft t\u0103ng nhanh h\u01a1n so v\u1edbi c\u00e1c doanh nghi\u1ec7p trung b\u00ecnh c\u1ee7a n\u1ec1n kinh t\u1ebf.<\/p>\n<p>C\u00e1m \u01a1n c\u00e1c b\u1ea1n \u0111\u00e3 \u0111\u1ecdc b\u00e0i.\u00a0<\/p>\n<p style=\"text-align: right;\">Th\u00e2n \u00e1i<br \/>\nL\u00e2m Minh Ch\u00e1nh<\/p>\n","protected":false},"excerpt":{"rendered":"<p>T\u1ea1i sao L\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng cao th\u00ec gi\u00e1\/ ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n c\u00f3 xu h\u01b0\u1edbng gi\u1ea3m? T\u1ea1i sao H\u1ea7u nh\u01b0 kh\u00f4ng ai c\u00f3 th\u1ec3 d\u1ef1 \u0111o\u00e1n \u0111\u00fang ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n? T\u1ea1i sao ch\u1ee9ng kho\u00e1n Vi\u1ec7t nam l\u1ea1i r\u1ebb h\u01a1n ch\u1ee9ng kho\u00e1n c\u00e1c n\u01b0\u1edbc kh\u00e1c? C\u00e2u h\u1ecfi 1: T\u1ea0I SAO L\u00c3I SU\u1ea4T NG\u00c2N H\u00c0NG&#8230;<\/p>\n","protected":false},"author":2,"featured_media":3788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"default","_kad_post_title":"default","_kad_post_layout":"default","_kad_post_sidebar_id":"","_kad_post_content_style":"default","_kad_post_vertical_padding":"default","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1],"tags":[98,97,99,96],"class_list":["post-3787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kien-thuc-dau-tu","tag-chi-so-chung-khoan","tag-chi-so-chung-khoan-giam","tag-du-doan-chi-so-chung-khoan","tag-lai-suat-ngan-hang-cao"],"featured_image_src_large":["https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/308991194_5516179388469507_5094946880252547836_n.jpg?fit=1024%2C536&ssl=1",1024,536,true],"author_info":{"display_name":"Hi\u1ec1n Nguy\u1ec5n","author_link":"https:\/\/bizuni.vn\/dau-tu\/author\/hn\/"},"comment_info":0,"category_info":[{"term_id":1,"name":"Ki\u1ebfn th\u1ee9c \u0111\u1ea7u t\u01b0","slug":"kien-thuc-dau-tu","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"<p>Chuy\u00ean trang g\u1ed3m nh\u1eefng b\u00e0i vi\u1ebft v\u1ec1 ki\u1ebfn th\u1ee9c \u0111\u1ea7u t\u01b0, nh\u1eadn \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng &amp; nh\u1eadn di\u1ec7n r\u1ee7i ro trong \u0111\u1ea7u t\u01b0 c\u1ee7a chuy\u00ean gia T\u00e0i ch\u00ednh, t\u00e1c gi\u1ea3 L\u00e2m Minh Ch\u00e1nh<\/p>","parent":0,"count":21,"filter":"raw","cat_ID":1,"category_count":21,"category_description":"<p>Chuy\u00ean trang g\u1ed3m nh\u1eefng b\u00e0i vi\u1ebft v\u1ec1 ki\u1ebfn th\u1ee9c \u0111\u1ea7u t\u01b0, nh\u1eadn \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng &amp; nh\u1eadn di\u1ec7n r\u1ee7i ro trong \u0111\u1ea7u t\u01b0 c\u1ee7a chuy\u00ean gia T\u00e0i ch\u00ednh, t\u00e1c gi\u1ea3 L\u00e2m Minh Ch\u00e1nh<\/p>","cat_name":"Ki\u1ebfn th\u1ee9c \u0111\u1ea7u t\u01b0","category_nicename":"kien-thuc-dau-tu","category_parent":0}],"tag_info":[{"term_id":98,"name":"ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n","slug":"chi-so-chung-khoan","term_group":0,"term_taxonomy_id":98,"taxonomy":"post_tag","description":"","parent":0,"count":1,"filter":"raw"},{"term_id":97,"name":"ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n gi\u1ea3m","slug":"chi-so-chung-khoan-giam","term_group":0,"term_taxonomy_id":97,"taxonomy":"post_tag","description":"","parent":0,"count":1,"filter":"raw"},{"term_id":99,"name":"d\u1ef1 \u0111o\u00e1n ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n","slug":"du-doan-chi-so-chung-khoan","term_group":0,"term_taxonomy_id":99,"taxonomy":"post_tag","description":"","parent":0,"count":1,"filter":"raw"},{"term_id":96,"name":"L\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng cao","slug":"lai-suat-ngan-hang-cao","term_group":0,"term_taxonomy_id":96,"taxonomy":"post_tag","description":"","parent":0,"count":1,"filter":"raw"}],"taxonomy_info":{"category":[{"value":1,"label":"Ki\u1ebfn th\u1ee9c \u0111\u1ea7u t\u01b0"}],"post_tag":[{"value":98,"label":"ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n"},{"value":97,"label":"ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n gi\u1ea3m"},{"value":99,"label":"d\u1ef1 \u0111o\u00e1n ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n"},{"value":96,"label":"L\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng cao"}]},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/bizuni.vn\/dau-tu\/wp-content\/uploads\/2022\/09\/308991194_5516179388469507_5094946880252547836_n.jpg?fit=1200%2C628&ssl=1","_links":{"self":[{"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/posts\/3787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/comments?post=3787"}],"version-history":[{"count":3,"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/posts\/3787\/revisions"}],"predecessor-version":[{"id":3821,"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/posts\/3787\/revisions\/3821"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/media\/3788"}],"wp:attachment":[{"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/media?parent=3787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/categories?post=3787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizuni.vn\/dau-tu\/wp-json\/wp\/v2\/tags?post=3787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}