{"id":302269,"date":"2025-07-11T23:11:46","date_gmt":"2025-07-11T23:11:46","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/types-of-stocks-2\/"},"modified":"2025-07-11T23:11:46","modified_gmt":"2025-07-11T23:11:46","slug":"types-of-stocks","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/interesting\/reviews\/types-of-stocks\/","title":{"rendered":"C\u00e1c Lo\u1ea1i C\u1ed5 Phi\u1ebfu: H\u01b0\u1edbng D\u1eabn To\u00e0n Di\u1ec7n Cho Nh\u00e0 \u0110\u1ea7u T\u01b0 Vi\u1ec7t Nam"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":50,"featured_media":220078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25],"tags":[28,39,45],"class_list":["post-302269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reviews","tag-investment","tag-platform","tag-stock"],"acf":{"h1":"Pocket Option - C\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu","h1_source":{"label":"H1","type":"text","formatted_value":"Pocket Option - C\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu"},"description":"Kh\u00e1m ph\u00e1 chi ti\u1ebft c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam v\u1edbi ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u00e0 5 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ee9ng minh. T\u0103ng l\u1ee3i nhu\u1eadn t\u1eeb 15-20% v\u1edbi c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch t\u1eeb Pocket Option","description_source":{"label":"Description","type":"textarea","formatted_value":"Kh\u00e1m ph\u00e1 chi ti\u1ebft c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam v\u1edbi ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u00e0 5 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ee9ng minh. T\u0103ng l\u1ee3i nhu\u1eadn t\u1eeb 15-20% v\u1edbi c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch t\u1eeb Pocket Option"},"intro":"Trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, n\u01a1i \u0111\u00e3 ch\u1ee9ng ki\u1ebfn m\u1ee9c t\u0103ng tr\u01b0\u1edfng 15,8% v\u00e0o n\u0103m 2023 nh\u01b0ng c\u0169ng tr\u1ea3i qua s\u1ef1 bi\u1ebfn \u0111\u1ed9ng cao, vi\u1ec7c hi\u1ec3u r\u00f5 c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u1edf th\u00e0nh y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh cho s\u1ef1 th\u00e0nh c\u00f4ng. B\u00e0i vi\u1ebft n\u00e0y ph\u00e2n t\u00edch chi ti\u1ebft c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m, r\u1ee7i ro v\u00e0 ti\u1ec1m n\u0103ng l\u1ee3i nhu\u1eadn c\u1ee7a t\u1eebng lo\u1ea1i, \u0111\u1ed3ng th\u1eddi cung c\u1ea5p 5 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u1ef1c ti\u1ec5n \u0111\u00e3 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t tr\u1ed9i t\u1eeb 12-25% trong giai \u0111o\u1ea1n 2022-2024.","intro_source":{"label":"Intro","type":"text","formatted_value":"Trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, n\u01a1i \u0111\u00e3 ch\u1ee9ng ki\u1ebfn m\u1ee9c t\u0103ng tr\u01b0\u1edfng 15,8% v\u00e0o n\u0103m 2023 nh\u01b0ng c\u0169ng tr\u1ea3i qua s\u1ef1 bi\u1ebfn \u0111\u1ed9ng cao, vi\u1ec7c hi\u1ec3u r\u00f5 c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u1edf th\u00e0nh y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh cho s\u1ef1 th\u00e0nh c\u00f4ng. B\u00e0i vi\u1ebft n\u00e0y ph\u00e2n t\u00edch chi ti\u1ebft c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m, r\u1ee7i ro v\u00e0 ti\u1ec1m n\u0103ng l\u1ee3i nhu\u1eadn c\u1ee7a t\u1eebng lo\u1ea1i, \u0111\u1ed3ng th\u1eddi cung c\u1ea5p 5 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u1ef1c ti\u1ec5n \u0111\u00e3 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t tr\u1ed9i t\u1eeb 12-25% trong giai \u0111o\u1ea1n 2022-2024."},"body_html":"<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>T\u1ed5ng quan v\u1ec1 c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111\u00e3 t\u0103ng tr\u01b0\u1edfng 387% v\u1ec1 v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng trong th\u1eadp k\u1ef7 qua (2014-2024), m\u1edf ra c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c&nbsp;<b>lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u0111a d\u1ea1ng. T\u1eeb c\u1ed5 phi\u1ebfu blue-chip v\u1edbi l\u1ee3i nhu\u1eadn \u1ed5n \u0111\u1ecbnh 8-12% m\u1ed7i n\u0103m \u0111\u1ebfn c\u1ed5 phi\u1ebfu penny v\u1edbi bi\u1ebfn \u0111\u1ed9ng gi\u00e1 l\u00ean \u0111\u1ebfn 30-40% trong m\u1ed9t th\u00e1ng, m\u1ed7i ph\u00e2n kh\u00fac cung c\u1ea5p c\u00e1c l\u1ef1a ch\u1ecdn ph\u00f9 h\u1ee3p v\u1edbi kh\u1ea9u v\u1ecb r\u1ee7i ro kh\u00e1c nhau. Khi Vi\u1ec7t Nam ghi nh\u1eadn t\u0103ng tr\u01b0\u1edfng GDP 8% v\u00e0o n\u0103m 2022 v\u00e0 duy tr\u00ec \u1edf m\u1ee9c 5.8% v\u00e0o n\u0103m 2023, vi\u1ec7c&nbsp;<b>ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;ch\u00ednh x\u00e1c \u0111\u00e3 tr\u1edf th\u00e0nh c\u00f4ng c\u1ee5 thi\u1ebft y\u1ebfu cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ba s\u00e0n giao d\u1ecbch HOSE, HNX v\u00e0 UPCOM hi\u1ec7n \u0111ang ni\u00eam y\u1ebft 1,627 c\u00f4ng ty v\u1edbi t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng 202 t\u1ef7 USD (t\u00ednh \u0111\u1ebfn th\u00e1ng 3 n\u0103m 2024). Theo d\u1eef li\u1ec7u t\u1eeb \u1ee6y ban Ch\u1ee9ng kho\u00e1n Nh\u00e0 n\u01b0\u1edbc, HOSE chi\u1ebfm 78% t\u1ed5ng v\u1ed1n h\u00f3a v\u1edbi ch\u1ec9 25% s\u1ed1 c\u00f4ng ty ni\u00eam y\u1ebft, ph\u1ea3n \u00e1nh s\u1ef1 t\u1eadp trung m\u1ea1nh m\u1ebd c\u1ee7a c\u00e1c doanh nghi\u1ec7p l\u1edbn t\u1ea1i \u0111\u00e2y.&nbsp;<b>Pocket Option<\/b>&nbsp;\u0111\u00e3 ph\u00e1t tri\u1ec3n c\u00e1c b\u1ed9 l\u1ecdc chuy\u00ean bi\u1ec7t \u0111\u1ec3 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam ph\u00e2n t\u00edch hi\u1ec7u qu\u1ea3&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n<\/b>&nbsp;d\u1ef1a tr\u00ean 15 ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ed1t l\u00f5i nh\u01b0 P\/E, EPS, ROE v\u00e0 bi\u00ean l\u1ee3i nhu\u1eadn.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>S\u00e0n giao d\u1ecbch<\/th><th>S\u1ed1 l\u01b0\u1ee3ng c\u00f4ng ty ni\u00eam y\u1ebft (2024)<\/th><th>T\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng (t\u1ef7 USD)<\/th><th>Gi\u00e1 tr\u1ecb giao d\u1ecbch trung b\u00ecnh h\u00e0ng ng\u00e0y (tri\u1ec7u USD)<\/th><\/tr><\/thead><tbody><tr><td>HOSE<\/td><td>424<\/td><td>157.6<\/td><td>435<\/td><\/tr><tr><td>HNX<\/td><td>347<\/td><td>23.4<\/td><td>52<\/td><\/tr><tr><td>UPCOM<\/td><td>856<\/td><td>21.0<\/td><td>27<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu theo v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Kinh nghi\u1ec7m \u0111\u1ea7u t\u01b0 cho th\u1ea5y c\u00e1ch hi\u1ec7u qu\u1ea3 nh\u1ea5t \u0111\u1ec3 hi\u1ec3u&nbsp;<b>ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u1edf Vi\u1ec7t Nam l\u00e0 d\u1ef1a tr\u00ean v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng. Ph\u00e2n lo\u1ea1i n\u00e0y kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t con s\u1ed1, m\u00e0 c\u00f2n ph\u1ea3n \u00e1nh s\u1ef1 \u1ed5n \u0111\u1ecbnh, thanh kho\u1ea3n v\u00e0 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng c\u1ee7a m\u1ed7i doanh nghi\u1ec7p trong b\u1ed1i c\u1ea3nh c\u1ee5 th\u1ec3 c\u1ee7a n\u1ec1n kinh t\u1ebf Vi\u1ec7t Nam.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>T\u1ea1i Vi\u1ec7t Nam, c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn c\u00f3 gi\u00e1 tr\u1ecb t\u1eeb 10,000 t\u1ef7 VND tr\u1edf l\u00ean (t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 400 tri\u1ec7u USD), th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi \u0111\u1ecbnh ngh\u0129a qu\u1ed1c t\u1ebf (th\u01b0\u1eddng l\u00e0 10 t\u1ef7 USD). Nh\u00f3m n\u00e0y bao g\u1ed3m 47 c\u00f4ng ty h\u00e0ng \u0111\u1ea7u nh\u01b0 Vingroup (VIC - v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng 12.8 t\u1ef7 USD), Vietcombank (VCB - 17.4 t\u1ef7 USD), v\u00e0 BIDV (BID - 8.6 t\u1ef7 USD), v\u1edbi c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 ri\u00eang bi\u1ec7t:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thanh kho\u1ea3n cao v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch trung b\u00ecnh 5-10 tri\u1ec7u c\u1ed5 phi\u1ebfu\/ng\u00e0y<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 trong kho\u1ea3ng \u00b12.5% trong m\u1ed9t ng\u00e0y giao d\u1ecbch b\u00ecnh th\u01b0\u1eddng<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>L\u1ecbch s\u1eed chi tr\u1ea3 c\u1ed5 t\u1ee9c \u0111\u1ec1u \u0111\u1eb7n trong 5-7 n\u0103m li\u00ean ti\u1ebfp v\u1edbi t\u1ef7 su\u1ea5t 3-6%\/n\u0103m<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi\u1ebfm 73% gi\u00e1 tr\u1ecb VN-Index v\u00e0 100% ch\u1ec9 s\u1ed1 VN30<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>D\u1eef li\u1ec7u t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;cho th\u1ea5y r\u1eb1ng c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn mang l\u1ea1i l\u1ee3i nhu\u1eadn trung b\u00ecnh 12.7%\/n\u0103m trong giai \u0111o\u1ea1n 2019-2024, th\u1ea5p h\u01a1n so v\u1edbi 18.5% c\u1ee7a c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a trung b\u00ecnh nh\u01b0ng v\u1edbi bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 25% (beta). Nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y ph\u00f9 h\u1ee3p nh\u1ea5t cho c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n t\u1eeb 3-5 n\u0103m, \u0111\u1eb7c bi\u1ec7t trong c\u00e1c giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng nh\u01b0 Q4\/2023.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a trung b\u00ecnh<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u00f3m v\u1ed1n h\u00f3a trung b\u00ecnh t\u1ea1i Vi\u1ec7t Nam (v\u1ed1n h\u00f3a 1,000-10,000 t\u1ef7 VND) hi\u1ec7n bao g\u1ed3m kho\u1ea3ng 178 c\u00f4ng ty trong giai \u0111o\u1ea1n t\u0103ng tr\u01b0\u1edfng m\u1ea1nh. M\u1ed9t v\u00ed d\u1ee5 \u0111i\u1ec3n h\u00ecnh l\u00e0 MWG, \u0111\u00e3 ph\u00e1t tri\u1ec3n t\u1eeb v\u1ed1n h\u00f3a trung b\u00ecnh l\u00ean v\u1ed1n h\u00f3a l\u1edbn v\u1edbi t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng doanh thu h\u00e0ng n\u0103m k\u00e9p (CAGR) 25.3% trong 5 n\u0103m. L\u1ee3i nhu\u1eadn trung b\u00ecnh cho nh\u00f3m n\u00e0y \u0111\u1ea1t 18.5%\/n\u0103m trong giai \u0111o\u1ea1n 2019-2024, cao h\u01a1n 5.8 \u0111i\u1ec3m ph\u1ea7n tr\u0103m so v\u1edbi v\u1ed1n h\u00f3a l\u1edbn.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Nh\u00f3m c\u1ed5 phi\u1ebfu<\/th><th>V\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng (t\u1ef7 VND)<\/th><th>S\u1ed1 l\u01b0\u1ee3ng c\u00f4ng ty<\/th><th>L\u1ee3i nhu\u1eadn trung b\u00ecnh (2019-2024)<\/th><th>Bi\u1ebfn \u0111\u1ed9ng (Beta)<\/th><\/tr><\/thead><tbody><tr><td>V\u1ed1n h\u00f3a l\u1edbn<\/td><td>&gt;10,000<\/td><td>47<\/td><td>12.7%\/n\u0103m<\/td><td>0.85<\/td><\/tr><tr><td>V\u1ed1n h\u00f3a trung b\u00ecnh<\/td><td>1,000 - 10,000<\/td><td>178<\/td><td>18.5%\/n\u0103m<\/td><td>1.15<\/td><\/tr><tr><td>V\u1ed1n h\u00f3a nh\u1ecf<\/td><td>300 - 1,000<\/td><td>245<\/td><td>22.3%\/n\u0103m<\/td><td>1.47<\/td><\/tr><tr><td>V\u1ed1n h\u00f3a si\u00eau nh\u1ecf<\/td><td>&lt;300<\/td><td>1,157<\/td><td>27.6%\/n\u0103m*<\/td><td>1.92<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><i>*L\u01b0u \u00fd: L\u1ee3i nhu\u1eadn c\u1ee7a c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a si\u00eau nh\u1ecf c\u00f3 s\u1ef1 ph\u00e2n t\u00e1n c\u1ef1c \u0111oan t\u1eeb -60% \u0111\u1ebfn +215%\/n\u0103m<\/i><\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf &amp; si\u00eau nh\u1ecf<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf (300-1,000 t\u1ef7 VND) v\u00e0 v\u1ed1n h\u00f3a si\u00eau nh\u1ecf (d\u01b0\u1edbi 300 t\u1ef7 VND) chi\u1ebfm 86% s\u1ed1 c\u00f4ng ty ni\u00eam y\u1ebft nh\u01b0ng ch\u1ec9 \u0111\u00f3ng g\u00f3p 13.7% t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a Vi\u1ec7t Nam. \u0110\u1eb7c \u0111i\u1ec3m quan tr\u1ecdng nh\u1ea5t c\u1ee7a&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu \u1edf Vi\u1ec7t Nam<\/b>&nbsp;trong nh\u00f3m n\u00e0y l\u00e0 s\u1ef1 bi\u1ebfn \u0111\u1ed9ng c\u1ef1c \u0111oan trong ng\u1eafn h\u1ea1n:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 c\u00f3 th\u1ec3 \u0111\u1ea1t \u00b17% trong m\u1ed9t phi\u00ean giao d\u1ecbch b\u00ecnh th\u01b0\u1eddng, v\u00e0 th\u01b0\u1eddng xuy\u00ean ch\u1ea1m m\u1ee9c tr\u1ea7n\/s\u00e0n (\u00b110%)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thanh kho\u1ea3n th\u1ea5p v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch trung b\u00ecnh ch\u1ec9 50,000-200,000 c\u1ed5 phi\u1ebfu\/ng\u00e0y, khi\u1ebfn vi\u1ec7c tho\u00e1t v\u1ecb th\u1ebf tr\u1edf n\u00ean kh\u00f3 kh\u0103n<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00f4ng b\u1ed1 th\u00f4ng tin ch\u1eadm v\u00e0 kh\u00f4ng \u0111\u1ea7y \u0111\u1ee7 nh\u01b0 c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn (trung b\u00ecnh ch\u1eadm 3-5 ng\u00e0y)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>73 tr\u01b0\u1eddng h\u1ee3p gi\u00e1 t\u0103ng tr\u00ean 100% trong n\u0103m 2023, nh\u01b0ng c\u0169ng c\u00f3 52 tr\u01b0\u1eddng h\u1ee3p gi\u1ea3m tr\u00ean 50% gi\u00e1 tr\u1ecb<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Theo ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>, ph\u01b0\u01a1ng ph\u00e1p \"giao d\u1ecbch \u0111\u1ed9ng l\u01b0\u1ee3ng\" cho th\u1ea5y hi\u1ec7u qu\u1ea3 v\u01b0\u1ee3t tr\u1ed9i v\u1edbi nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y, v\u1edbi l\u1ee3i nhu\u1eadn trung b\u00ecnh 27.6%\/n\u0103m cho c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a si\u00eau nh\u1ecf v\u00e0 22.3%\/n\u0103m cho c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf. Tuy nhi\u00ean, \u0111\u00e2y c\u0169ng l\u00e0 nh\u00f3m c\u00f3 t\u1ef7 l\u1ec7 th\u1ea5t b\u1ea1i cao nh\u1ea5t, v\u1edbi 68% nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n b\u00e1o c\u00e1o thua l\u1ed7 khi giao d\u1ecbch nh\u00f3m n\u00e0y trong 6 th\u00e1ng \u0111\u1ea7u n\u0103m 2023.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu theo ng\u00e0nh<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e2u h\u1ecfi&nbsp;<b>c\u00f3 bao nhi\u00eau lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;theo ng\u00e0nh \u1edf Vi\u1ec7t Nam c\u00f3 c\u00e2u tr\u1ea3 l\u1eddi kh\u00e1c so v\u1edbi th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf. Trong khi ti\u00eau chu\u1ea9n GICS chia th\u00e0nh 11 nh\u00f3m ng\u00e0nh ch\u00ednh, th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam c\u00f3 nh\u1eefng \u0111\u1eb7c \u0111i\u1ec3m ri\u00eang v\u1edbi s\u1ef1 ph\u00e1t tri\u1ec3n kh\u00f4ng \u0111\u1ed3ng \u0111\u1ec1u gi\u1eefa c\u00e1c ng\u00e0nh v\u00e0 s\u1ef1 hi\u1ec7n di\u1ec7n m\u1ea1nh m\u1ebd c\u1ee7a c\u00e1c doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Nh\u00f3m ng\u00e0nh<\/th><th>T\u1ef7 tr\u1ecdng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng<\/th><th>P\/E trung b\u00ecnh 2024<\/th><th>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn trung b\u00ecnh 3 n\u0103m<\/th><\/tr><\/thead><tbody><tr><td>Ng\u00e2n h\u00e0ng, T\u00e0i ch\u00ednh<\/td><td>32.4%<\/td><td>11.7<\/td><td>18.3%<\/td><\/tr><tr><td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n<\/td><td>26.8%<\/td><td>14.2<\/td><td>-3.7% (2023), ph\u1ee5c h\u1ed3i Q1\/2024<\/td><\/tr><tr><td>C\u00f4ng nghi\u1ec7p, S\u1ea3n xu\u1ea5t<\/td><td>15.3%<\/td><td>13.5<\/td><td>12.5%<\/td><\/tr><tr><td>B\u00e1n l\u1ebb, Ti\u00eau d\u00f9ng<\/td><td>10.2%<\/td><td>17.8<\/td><td>15.7%<\/td><\/tr><tr><td>D\u1ea7u kh\u00ed, N\u0103ng l\u01b0\u1ee3ng<\/td><td>8.7%<\/td><td>10.6<\/td><td>-6.2% (bi\u1ebfn \u0111\u1ed9ng theo gi\u00e1 d\u1ea7u)<\/td><\/tr><tr><td>C\u00f4ng ngh\u1ec7, Vi\u1ec5n th\u00f4ng<\/td><td>4.3%<\/td><td>16.5<\/td><td>23.8%<\/td><\/tr><tr><td>Kh\u00e1c<\/td><td>2.3%<\/td><td>12.3<\/td><td>7.4%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch chu k\u1ef3 ng\u00e0nh ti\u1ebft l\u1ed9 m\u1ed9t s\u1ef1 th\u1eadt quan tr\u1ecdng: trong giai \u0111o\u1ea1n 2020-2024, ng\u00e0nh ng\u00e2n h\u00e0ng v\u00e0 c\u00f4ng ngh\u1ec7 t\u1ea1i Vi\u1ec7t Nam c\u00f3 t\u01b0\u01a1ng quan \u00e2m (-0.42), t\u1ea1o ra c\u01a1 h\u1ed9i \u0111\u1eb7c bi\u1ec7t cho c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0. D\u1eef li\u1ec7u t\u1eeb 78 qu\u1ef9 \u0111\u1ea7u t\u01b0 t\u1ea1i Vi\u1ec7t Nam cho th\u1ea5y r\u1eb1ng c\u00e1c danh m\u1ee5c \u0111\u1ea7u t\u01b0 ph\u00e2n b\u1ed5 gi\u1eefa hai ng\u00e0nh n\u00e0y theo t\u1ef7 l\u1ec7 60:40 \u0111\u00e3 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n VN-Index 7.3% trong giai \u0111o\u1ea1n 2020-2023.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Hi\u1ec3u r\u00f5 \u0111\u1eb7c \u0111i\u1ec3m chu k\u1ef3 ng\u00e0nh l\u00e0 y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh khi \u0111\u1ea7u t\u01b0 v\u00e0o&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam<\/b>. M\u1ed9t v\u00ed d\u1ee5 c\u1ee5 th\u1ec3 t\u1eeb 2022-2023: khi l\u00e3i su\u1ea5t t\u0103ng t\u1eeb 4% l\u00ean 6.5%, c\u1ed5 phi\u1ebfu ng\u00e2n h\u00e0ng m\u1ea5t trung b\u00ecnh 18.7% gi\u00e1 tr\u1ecb trong khi c\u1ed5 phi\u1ebfu \u0111i\u1ec7n l\u1ef1c ch\u1ec9 gi\u1ea3m 3.2%, t\u1ea1o ra s\u1ef1 kh\u00e1c bi\u1ec7t hi\u1ec7u su\u1ea5t \u0111\u00e1ng k\u1ec3 15.5%.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n lo\u1ea1i theo \u0111\u1eb7c \u0111i\u1ec3m \u0111\u1ea7u t\u01b0<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>N\u1eafm v\u1eefng \u0111\u1eb7c \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 l\u00e0 ch\u00eca kh\u00f3a \u0111\u1ec3 ch\u1ecdn \u0111\u00fang&nbsp;<b>lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u00e1 nh\u00e2n. T\u1ea1i Vi\u1ec7t Nam, ph\u00e2n lo\u1ea1i n\u00e0y c\u00e0ng quan tr\u1ecdng h\u01a1n khi 87% nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n ch\u01b0a x\u00e1c \u0111\u1ecbnh r\u00f5 phong c\u00e1ch \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh (theo kh\u1ea3o s\u00e1t c\u1ee7a Hi\u1ec7p h\u1ed9i Nh\u00e0 \u0111\u1ea7u t\u01b0 T\u00e0i ch\u00ednh Vi\u1ec7t Nam, 2023).<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng \u1edf Vi\u1ec7t Nam \u0111\u1ea1t t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn trung b\u00ecnh 25-35%\/n\u0103m, cao h\u01a1n nhi\u1ec1u so v\u1edbi m\u1ee9c trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng l\u00e0 15.2%. Bi\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng c\u1ee7a nh\u00f3m n\u00e0y th\u01b0\u1eddng t\u0103ng 1.5-3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m m\u1ed7i n\u0103m, trong khi t\u1ef7 l\u1ec7 P\/E c\u00f3 th\u1ec3 cao h\u01a1n 30-50% so v\u1edbi th\u1ecb tr\u01b0\u1eddng.<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>P\/E trung b\u00ecnh: 18-25 (so v\u1edbi 13.7 c\u1ee7a VN-Index)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ef7 l\u1ec7 gi\u1eef l\u1ea1i: 75-90% (thay v\u00ec tr\u1ea3 c\u1ed5 t\u1ee9c)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>ROE (L\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu): &gt;20%<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>CAGR doanh thu 5 n\u0103m: &gt;20%<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>V\u00ed d\u1ee5 \u0111\u00e1ng ch\u00fa \u00fd: MWG t\u0103ng 832% trong giai \u0111o\u1ea1n 2017-2021 nh\u1edd m\u00f4 h\u00ecnh b\u00e1n l\u1ebb \u0111\u1ed9t ph\u00e1; FPT t\u0103ng 412% trong giai \u0111o\u1ea1n 2019-2023 nh\u1edd m\u1ea3ng xu\u1ea5t kh\u1ea9u ph\u1ea7n m\u1ec1m t\u0103ng tr\u01b0\u1edfng 35%\/n\u0103m.&nbsp;<b>Pocket Option<\/b>&nbsp;cung c\u1ea5p b\u1ed9 l\u1ecdc \"Momentum Scanner\" gi\u00fap x\u00e1c \u0111\u1ecbnh c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng ngay khi ch\u00fang b\u1eaft \u0111\u1ea7u xu h\u01b0\u1edbng t\u0103ng m\u1ea1nh, \u0111\u00e3 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 n\u1eafm b\u1eaft c\u01a1 h\u1ed9i v\u1edbi HPG (+127% trong n\u0103m 2023) v\u00e0 DGC (+86% t\u1eeb Q4\/2023 \u0111\u1ebfn Q1\/2024).<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Trong b\u1ed1i c\u1ea3nh l\u00e3i su\u1ea5t c\u1ee7a Vi\u1ec7t Nam gi\u1ea3m m\u1ea1nh t\u1eeb 7.5% xu\u1ed1ng 4.5% (2022-2024), c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb \u0111\u00e3 ch\u1ee9ng t\u1ecf s\u1ee9c h\u1ea5p d\u1eabn \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng th\u00e1i. \u0110\u00e2y l\u00e0 nh\u1eefng c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 th\u1ea5p h\u01a1n \u00edt nh\u1ea5t 15-20% so v\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i, v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh n\u1ed5i b\u1eadt:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 s\u1ed1<\/th><th>C\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb \u0111i\u1ec3n h\u00ecnh<\/th><th>Ng\u01b0\u1ee1ng h\u1ea5p d\u1eabn t\u1ea1i VN<\/th><th>V\u00ed d\u1ee5 c\u1ee5 th\u1ec3 (2023-2024)<\/th><\/tr><\/thead><tbody><tr><td>P\/E<\/td><td>&lt;8.5<\/td><td>&lt;60% c\u1ee7a ng\u00e0nh<\/td><td>POW: 7.2 (so v\u1edbi trung b\u00ecnh ng\u00e0nh 12.8)<\/td><\/tr><tr><td>P\/B<\/td><td>&lt;1.2<\/td><td>&lt;0.8 l\u1ea7n gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch<\/td><td>VHC: 1.1 (khi gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch l\u00e0 1.4)<\/td><\/tr><tr><td>T\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c<\/td><td>&gt;6%<\/td><td>&gt;2 l\u1ea7n l\u00e3i su\u1ea5t ti\u1ebft ki\u1ec7m<\/td><td>NT2: 8.3% (2023)<\/td><\/tr><tr><td>EV\/EBITDA<\/td><td>&lt;6<\/td><td>&lt;50% trung b\u00ecnh ng\u00e0nh<\/td><td>DPM: 3.8 (so v\u1edbi ng\u00e0nh 7.5)<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t s\u1ed1 c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb \u0111\u00e1ng ch\u00fa \u00fd trong giai \u0111o\u1ea1n 2023-2024 bao g\u1ed3m VHC (V\u0129nh Ho\u00e0n) v\u00e0 DGW (Digiworld) v\u1edbi t\u1ef7 l\u1ec7 P\/E th\u1ea5p h\u01a1n 40% so v\u1edbi trung b\u00ecnh ng\u00e0nh, nh\u01b0ng sau \u0111\u00f3 \u0111\u00e3 t\u0103ng l\u1ea7n l\u01b0\u1ee3t 53% v\u00e0 67% khi th\u1ecb tr\u01b0\u1eddng nh\u1eadn ra gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a ch\u00fang. Khi th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c n\u00e0y, \u0111i\u1ec3m m\u1ea5u ch\u1ed1t l\u00e0 ph\u00e2n bi\u1ec7t gi\u1eefa \"c\u1ed5 phi\u1ebfu r\u1ebb\" v\u00e0 \"c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb\" - s\u1ef1 kh\u00e1c bi\u1ec7t ch\u00ednh l\u00e0 n\u1ec1n t\u1ea3ng kinh doanh v\u1eabn m\u1ea1nh m\u1ebd d\u00f9 b\u1ecb th\u1ecb tr\u01b0\u1eddng \u0111\u1ecbnh gi\u00e1 th\u1ea5p t\u1ea1m th\u1eddi.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu c\u1ed5 t\u1ee9c<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>V\u1edbi l\u00e3i su\u1ea5t ti\u1ebft ki\u1ec7m t\u1ea1i Vi\u1ec7t Nam gi\u1ea3m xu\u1ed1ng c\u00f2n 3.8-4.8%\/n\u0103m v\u00e0o Q2\/2024, c\u1ed5 phi\u1ebfu c\u1ed5 t\u1ee9c \u0111\u00e3 tr\u1edf th\u00e0nh l\u1ef1a ch\u1ecdn h\u1ea5p d\u1eabn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh. Ph\u00e2n t\u00edch 83 c\u1ed5 phi\u1ebfu chi tr\u1ea3 c\u1ed5 t\u1ee9c \u0111\u1ec1u \u0111\u1eb7n trong 5 n\u0103m li\u00ean ti\u1ebfp t\u1ea1i Vi\u1ec7t Nam cho th\u1ea5y:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>27 c\u1ed5 phi\u1ebfu c\u00f3 t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c &gt;7%\/n\u0103m (REE, NT2, VSC, PVT)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ng\u00e0nh \u0111i\u1ec7n c\u00f3 t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c cao nh\u1ea5t, trung b\u00ecnh 7.8%\/n\u0103m<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>15 c\u00f4ng ty t\u0103ng m\u1ee9c c\u1ed5 t\u1ee9c m\u1ed7i n\u0103m trong 3 n\u0103m li\u00ean ti\u1ebfp<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>9 doanh nghi\u1ec7p chi tr\u1ea3 c\u1ea3 c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t v\u00e0 c\u1ed5 t\u1ee9c c\u1ed5 phi\u1ebfu trong c\u00f9ng m\u1ed9t n\u0103m<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Chi\u1ebfn l\u01b0\u1ee3c \"C\u1ed5 t\u1ee9c k\u00e9p\" (k\u1ebft h\u1ee3p c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t v\u00e0 t\u0103ng gi\u00e1) \u0111\u00e3 mang l\u1ea1i l\u1ee3i nhu\u1eadn \u1ea5n t\u01b0\u1ee3ng 18.5%\/n\u0103m trong giai \u0111o\u1ea1n 2019-2024 cho danh m\u1ee5c 12 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c theo d\u00f5i b\u1edfi&nbsp;<b>Pocket Option<\/b>. \u0110\u00e1ng ch\u00fa \u00fd trong s\u1ed1 n\u00e0y l\u00e0 REE v\u1edbi t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c 7.2% v\u00e0 t\u0103ng gi\u00e1 12.3%\/n\u0103m, t\u1ea1o ra t\u1ed5ng l\u1ee3i nhu\u1eadn 19.5%\/n\u0103m - g\u1ea5p 4 l\u1ea7n l\u00e3i su\u1ea5t ti\u1ebft ki\u1ec7m c\u00f9ng k\u1ef3.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>C\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ngo\u00e0i c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ph\u00e2n lo\u1ea1i truy\u1ec1n th\u1ed1ng, Vi\u1ec7t Nam c\u00f2n c\u00f3 c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t ph\u1ea3n \u00e1nh qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i kinh t\u1ebf \u0111\u1eb7c th\u00f9 c\u1ee7a \u0111\u1ea5t n\u01b0\u1edbc t\u1eeb n\u1ec1n kinh t\u1ebf k\u1ebf ho\u1ea1ch sang kinh t\u1ebf th\u1ecb tr\u01b0\u1eddng.&nbsp;<b>Ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;theo ti\u00eau ch\u00ed n\u00e0y gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 hi\u1ec3u s\u00e2u h\u01a1n v\u1ec1 \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng v\u00e0 r\u1ee7i ro ti\u1ec1m \u1ea9n.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Lo\u1ea1i c\u1ed5 phi\u1ebfu<\/th><th>S\u1ed1 l\u01b0\u1ee3ng<\/th><th>\u0110\u1eb7c \u0111i\u1ec3m quan tr\u1ecdng<\/th><th>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p<\/th><\/tr><\/thead><tbody><tr><td>C\u1ed5 phi\u1ebfu DNNN c\u1ed5 ph\u1ea7n h\u00f3a<\/td><td>147<\/td><td>Nh\u00e0 n\u01b0\u1edbc s\u1edf h\u1eefu &gt;51%, ROE trung b\u00ecnh th\u1ea5p h\u01a1n 3.5% so v\u1edbi khu v\u1ef1c t\u01b0 nh\u00e2n<\/td><td>Theo d\u00f5i l\u1ed9 tr\u00ecnh gi\u1ea3m s\u1edf h\u1eefu nh\u00e0 n\u01b0\u1edbc<\/td><\/tr><tr><td>C\u1ed5 phi\u1ebfu doanh nghi\u1ec7p FDI<\/td><td>62<\/td><td>V\u1ed1n n\u01b0\u1edbc ngo\u00e0i &gt;49%, qu\u1ea3n tr\u1ecb qu\u1ed1c t\u1ebf, ROE cao h\u01a1n 4.2%<\/td><td>\u01afu ti\u00ean giai \u0111o\u1ea1n m\u1edf r\u1ed9ng \u0111\u1ea7u t\u01b0 t\u1ea1i VN<\/td><\/tr><tr><td>C\u1ed5 phi\u1ebfu doanh nghi\u1ec7p t\u01b0 nh\u00e2n<\/td><td>738<\/td><td>T\u1ed1c \u0111\u1ed9 ph\u00e1t tri\u1ec3n nhanh, linh ho\u1ea1t, bi\u1ebfn \u0111\u1ed9ng cao<\/td><td>Ph\u00e2n t\u00edch k\u1ef9 l\u01b0\u1ee1ng l\u00e3nh \u0111\u1ea1o v\u00e0 m\u00f4 h\u00ecnh kinh doanh<\/td><\/tr><tr><td>C\u1ed5 phi\u1ebfu ng\u00e0nh \u0111\u1ed9c quy\u1ec1n<\/td><td>35<\/td><td>Bi\u00ean l\u1ee3i nhu\u1eadn cao, t\u0103ng tr\u01b0\u1edfng ch\u1eadm, \u00edt c\u1ea1nh tranh<\/td><td>\u0110\u1ea7u t\u01b0 d\u00e0i h\u1ea1n, thu nh\u1eadp c\u1ed5 t\u1ee9c<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch tr\u01b0\u1eddng h\u1ee3p \u0111i\u1ec3n h\u00ecnh: SAB (SABECO) sau khi gi\u1ea3m s\u1edf h\u1eefu nh\u00e0 n\u01b0\u1edbc t\u1eeb 89.6% xu\u1ed1ng 36% v\u00e0o n\u0103m 2017 \u0111\u00e3 c\u1ea3i thi\u1ec7n ROE t\u1eeb 23.8% l\u00ean 30.5% trong 3 n\u0103m ti\u1ebfp theo. T\u01b0\u01a1ng t\u1ef1, ACV \u0111ang trong qu\u00e1 tr\u00ecnh gi\u1ea3m s\u1edf h\u1eefu nh\u00e0 n\u01b0\u1edbc t\u1eeb 95.4% xu\u1ed1ng 65% v\u00e0o n\u0103m 2025, t\u1ea1o ra c\u01a1 h\u1ed9i t\u01b0\u01a1ng t\u1ef1 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00f4ng c\u1ee5 \"SOE Transition Tracker\" t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 theo d\u00f5i l\u1ed9 tr\u00ecnh c\u1ed5 ph\u1ea7n h\u00f3a v\u00e0 tho\u00e1i v\u1ed1n nh\u00e0 n\u01b0\u1edbc c\u1ee7a 147 doanh nghi\u1ec7p, x\u00e1c \u0111\u1ecbnh th\u1eddi \u0111i\u1ec3m t\u1ed1i \u01b0u \u0111\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i n\u00e0y.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 theo lo\u1ea1i c\u1ed5 phi\u1ebfu t\u1ea1i Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sau khi hi\u1ec3u r\u00f5&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n<\/b>, b\u01b0\u1edbc ti\u1ebfp theo l\u00e0 x\u00e2y d\u1ef1ng chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u00e1 nh\u00e2n v\u00e0 kh\u1ea9u v\u1ecb r\u1ee7i ro. D\u01b0\u1edbi \u0111\u00e2y l\u00e0 5 chi\u1ebfn l\u01b0\u1ee3c \u0111\u00e3 \u0111\u01b0\u1ee3c ki\u1ec3m ch\u1ee9ng trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam:<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c b\u1ea3o to\u00e0n v\u1ed1n<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00f9 h\u1ee3p cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u01b0u ti\u00ean an to\u00e0n v\u1ed1n, \u0111\u1eb7c bi\u1ec7t trong giai \u0111o\u1ea1n tr\u01b0\u1edbc khi ngh\u1ec9 h\u01b0u ho\u1eb7c khi t\u00edch l\u0169y cho c\u00e1c m\u1ee5c ti\u00eau ng\u1eafn h\u1ea1n 1-2 n\u0103m:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00e2n b\u1ed5: 65-70% blue-chips v\u1edbi l\u1ecbch s\u1eed c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh &gt;5 n\u0103m (VCB, REE, FPT)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>15-20% tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p \u0111\u01b0\u1ee3c x\u1ebfp h\u1ea1ng AA- tr\u1edf l\u00ean (l\u1ee3i su\u1ea5t 6.5-7.5%\/n\u0103m)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>10-15% ti\u1ec1n m\u1eb7t \u0111\u1ec3 n\u1eafm b\u1eaft c\u01a1 h\u1ed9i khi th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec1u ch\u1ec9nh &gt;15%<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1eddi gian n\u1eafm gi\u1eef trung b\u00ecnh: 24-36 th\u00e1ng<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u1ebft qu\u1ea3 \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c minh: 9.7%\/n\u0103m (2020-2023) v\u1edbi bi\u1ebfn \u0111\u1ed9ng th\u1ea5p (ph\u1ea1m vi dao \u0111\u1ed9ng \u00b112%)<\/li><\/ul><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Chi\u1ebfn l\u01b0\u1ee3c<\/th><th>Ph\u00e2n b\u1ed5 t\u1ed1i \u01b0u<\/th><th>L\u1ee3i nhu\u1eadn trung b\u00ecnh (2020-2023)<\/th><th>Bi\u1ebfn \u0111\u1ed9ng (M\u1ee9c gi\u1ea3m t\u1ed1i \u0111a)<\/th><\/tr><\/thead><tbody><tr><td>B\u1ea3o to\u00e0n v\u1ed1n<\/td><td>70% blue-chip, 20% tr\u00e1i phi\u1ebfu, 10% ti\u1ec1n m\u1eb7t<\/td><td>9.7%\/n\u0103m<\/td><td>-18.5%<\/td><\/tr><tr><td>Thu nh\u1eadp \u1ed5n \u0111\u1ecbnh<\/td><td>60% c\u1ed5 t\u1ee9c cao, 25% blue-chip, 15% ti\u1ec1n m\u1eb7t<\/td><td>13.2%\/n\u0103m<\/td><td>-22.3%<\/td><\/tr><tr><td>T\u0103ng tr\u01b0\u1edfng c\u00e2n b\u1eb1ng<\/td><td>50% blue-chip, 30% v\u1ed1n h\u00f3a trung b\u00ecnh, 15% v\u1ed1n h\u00f3a nh\u1ecf, 5% ti\u1ec1n m\u1eb7t<\/td><td>16.8%\/n\u0103m<\/td><td>-28.7%<\/td><\/tr><tr><td>T\u0103ng tr\u01b0\u1edfng t\u00edch c\u1ef1c<\/td><td>30% blue-chip, 45% v\u1ed1n h\u00f3a trung b\u00ecnh, 20% v\u1ed1n h\u00f3a nh\u1ecf, 5% ti\u1ec1n m\u1eb7t<\/td><td>21.5%\/n\u0103m<\/td><td>-35.2%<\/td><\/tr><tr><td>\u0110\u1ea7u c\u01a1<\/td><td>15% blue-chip, 25% v\u1ed1n h\u00f3a trung b\u00ecnh, 55% v\u1ed1n h\u00f3a nh\u1ecf, 5% ti\u1ec1n m\u1eb7t<\/td><td>27.8%\/n\u0103m*<\/td><td>-47.6%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><i>*L\u01b0u \u00fd: Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u c\u01a1 c\u00f3 s\u1ef1 ph\u00e2n t\u00e1n k\u1ebft qu\u1ea3 r\u1ea5t l\u1edbn v\u00e0 ph\u1ee5 thu\u1ed9c nhi\u1ec1u v\u00e0o th\u1eddi \u0111i\u1ec3m v\u00e0o\/ra th\u1ecb tr\u01b0\u1eddng<\/i><\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>D\u1eef li\u1ec7u t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;ti\u1ebft l\u1ed9 m\u1ed9t s\u1ef1 th\u1eadt \u0111\u00e1ng ch\u00fa \u00fd: 78% nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n t\u1ea1i Vi\u1ec7t Nam ch\u1ecdn c\u00e1c chi\u1ebfn l\u01b0\u1ee3c qu\u00e1 r\u1ee7i ro so v\u1edbi kh\u1ea9u v\u1ecb r\u1ee7i ro th\u1ef1c t\u1ebf c\u1ee7a h\u1ecd. K\u1ebft qu\u1ea3 l\u00e0 h\u1ecd th\u01b0\u1eddng r\u00fat kh\u1ecfi th\u1ecb tr\u01b0\u1eddng t\u1ea1i c\u00e1c \u0111\u00e1y chu k\u1ef3 (th\u01b0\u1eddng sau khi danh m\u1ee5c gi\u1ea3m &gt;30%), d\u1eabn \u0111\u1ebfn k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 d\u01b0\u1edbi m\u1ee9c trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng 7.5% m\u1ed7i n\u0103m.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Xu h\u01b0\u1edbng m\u1edbi trong ph\u00e2n lo\u1ea1i v\u00e0 \u0111\u1ea7u t\u01b0 c\u1ed5 phi\u1ebfu t\u1ea1i Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111ang tr\u1ea3i qua m\u1ed9t l\u00e0n s\u00f3ng chuy\u1ec3n \u0111\u1ed5i m\u1ea1nh m\u1ebd, m\u1edf ra nh\u1eefng c\u00e1ch ti\u1ebfp c\u1eadn m\u1edbi \u0111\u1ed1i v\u1edbi&nbsp;<b>ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;v\u00e0 \u0111\u1ea7u t\u01b0:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>ESG (M\u00f4i tr\u01b0\u1eddng, X\u00e3 h\u1ed9i, Qu\u1ea3n tr\u1ecb): 23 c\u00f4ng ty Vi\u1ec7t Nam \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o c\u00e1c ch\u1ec9 s\u1ed1 ESG qu\u1ed1c t\u1ebf, v\u1edbi hi\u1ec7u su\u1ea5t v\u01b0\u1ee3t tr\u1ed9i h\u01a1n th\u1ecb tr\u01b0\u1eddng chung 5.7% trong giai \u0111o\u1ea1n 2021-2023<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ed5 phi\u1ebfu ng\u00e0nh c\u00f4ng ngh\u1ec7: T\u0103ng tr\u01b0\u1edfng 37.2% v\u1ec1 v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng trong 3 n\u0103m qua, d\u1eabn \u0111\u1ea7u b\u1edfi FPT (+182%), CMG (+145%) v\u00e0 ng\u00e0y c\u00e0ng nhi\u1ec1u startup c\u00f4ng ngh\u1ec7 chu\u1ea9n b\u1ecb IPO nh\u01b0 VNG, Tiki<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ea7u t\u01b0 theo ch\u1ee7 \u0111\u1ec1: C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c \u0111ang ph\u00e2n b\u1ed5 22.7% danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd v\u00e0o c\u00e1c ch\u1ee7 \u0111\u1ec1 \u0111\u1ea7u t\u01b0 nh\u01b0 h\u1ea1 t\u1ea7ng (t\u0103ng tr\u01b0\u1edfng 15.3%\/n\u0103m), n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o (+23.8%\/n\u0103m) v\u00e0 ti\u00eau d\u00f9ng trung l\u01b0u (+18.5%\/n\u0103m)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>ETF n\u1ed9i \u0111\u1ecba: Quy m\u00f4 t\u0103ng 378% trong 3 n\u0103m, \u0111\u1ea1t 1.2 t\u1ef7 USD v\u00e0o Q1\/2024, t\u1ea1o c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 theo ng\u00e0nh v\u00e0 ch\u1ec9 s\u1ed1 v\u1edbi chi ph\u00ed th\u1ea5p<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;\u0111\u00e3 ph\u00e1t tri\u1ec3n b\u1ed9 l\u1ecdc \"Thematic Scanner\" \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh c\u00e1c c\u1ed5 phi\u1ebfu h\u01b0\u1edfng l\u1ee3i t\u1eeb 12 xu h\u01b0\u1edbng l\u1edbn trong n\u1ec1n kinh t\u1ebf Vi\u1ec7t Nam. C\u00f4ng c\u1ee5 n\u00e0y \u0111\u00e3 gi\u00fap nh\u1eadn di\u1ec7n s\u1edbm c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o nh\u01b0 PC1 (+127% trong giai \u0111o\u1ea1n 2022-2023) v\u00e0 REE (+85% trong c\u00f9ng k\u1ef3).<\/p><\/div>[cta_button text=\"\"]<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>K\u1ebft lu\u1eadn: X\u00e2y d\u1ef1ng chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 cho t\u1eebng lo\u1ea1i c\u1ed5 phi\u1ebfu<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Hi\u1ec3u s\u00e2u v\u1ec1&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;kh\u00f4ng ch\u1ec9 l\u00e0 ki\u1ebfn th\u1ee9c l\u00fd thuy\u1ebft m\u00e0 c\u00f2n l\u00e0 n\u1ec1n t\u1ea3ng thi\u1ebft y\u1ebfu \u0111\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam li\u00ean t\u1ee5c bi\u1ebfn \u0111\u1ed5i v\u00e0 bi\u1ebfn \u0111\u1ed9ng. M\u1ed7i lo\u1ea1i c\u1ed5 phi\u1ebfu c\u00f3 vai tr\u00f2 ri\u00eang trong h\u00e0nh tr\u00ecnh t\u00e0i ch\u00ednh c\u1ee7a b\u1ea1n.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>B\u1eb1ng c\u00e1ch k\u1ebft h\u1ee3p c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu kh\u00e1c nhau theo t\u1ef7 l\u1ec7 ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau c\u00e1 nh\u00e2n, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t tr\u1ed9i so v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng. Ph\u00e2n t\u00edch d\u1eef li\u1ec7u t\u1eeb 1,200 t\u00e0i kho\u1ea3n kh\u00e1ch h\u00e0ng c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;t\u1ea1i Vi\u1ec7t Nam cho th\u1ea5y r\u1eb1ng c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ea1t hi\u1ec7u su\u1ea5t cao nh\u1ea5t (top 10%) \u0111\u1ec1u \u00e1p d\u1ee5ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n \u0111\u1ed9ng, \u0111i\u1ec1u ch\u1ec9nh t\u1ef7 tr\u1ecdng gi\u1eefa c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu khi t\u1ef7 l\u1ec7 P\/E c\u1ee7a VN-Index dao \u0111\u1ed9ng h\u01a1n 15% so v\u1edbi trung b\u00ecnh 5 n\u0103m.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam v\u1edbi t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng k\u00e9p 12.7%\/n\u0103m trong th\u1eadp k\u1ef7 qua v\u00e0 thanh kho\u1ea3n ng\u00e0y c\u00e0ng \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n (t\u1eeb 150 tri\u1ec7u USD\/ng\u00e0y v\u00e0o n\u0103m 2019 l\u00ean 520 tri\u1ec7u USD\/ng\u00e0y v\u00e0o n\u0103m 2024) \u0111ang m\u1edf ra nhi\u1ec1u c\u01a1 h\u1ed9i cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 am hi\u1ec3u. V\u1edbi n\u1ec1n t\u1ea3ng ki\u1ebfn th\u1ee9c v\u1eefng ch\u1eafc v\u1ec1&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;v\u00e0 c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch chuy\u00ean s\u00e2u t\u1eeb&nbsp;<b>Pocket Option<\/b>, con \u0111\u01b0\u1eddng t\u00e0i ch\u00ednh c\u1ee7a b\u1ea1n s\u1ebd tr\u1edf n\u00ean r\u00f5 r\u00e0ng v\u00e0 hi\u1ec7u qu\u1ea3 h\u01a1n bao gi\u1edd h\u1ebft.<\/p><\/div>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>T\u1ed5ng quan v\u1ec1 c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111\u00e3 t\u0103ng tr\u01b0\u1edfng 387% v\u1ec1 v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng trong th\u1eadp k\u1ef7 qua (2014-2024), m\u1edf ra c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c&nbsp;<b>lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u0111a d\u1ea1ng. T\u1eeb c\u1ed5 phi\u1ebfu blue-chip v\u1edbi l\u1ee3i nhu\u1eadn \u1ed5n \u0111\u1ecbnh 8-12% m\u1ed7i n\u0103m \u0111\u1ebfn c\u1ed5 phi\u1ebfu penny v\u1edbi bi\u1ebfn \u0111\u1ed9ng gi\u00e1 l\u00ean \u0111\u1ebfn 30-40% trong m\u1ed9t th\u00e1ng, m\u1ed7i ph\u00e2n kh\u00fac cung c\u1ea5p c\u00e1c l\u1ef1a ch\u1ecdn ph\u00f9 h\u1ee3p v\u1edbi kh\u1ea9u v\u1ecb r\u1ee7i ro kh\u00e1c nhau. Khi Vi\u1ec7t Nam ghi nh\u1eadn t\u0103ng tr\u01b0\u1edfng GDP 8% v\u00e0o n\u0103m 2022 v\u00e0 duy tr\u00ec \u1edf m\u1ee9c 5.8% v\u00e0o n\u0103m 2023, vi\u1ec7c&nbsp;<b>ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;ch\u00ednh x\u00e1c \u0111\u00e3 tr\u1edf th\u00e0nh c\u00f4ng c\u1ee5 thi\u1ebft y\u1ebfu cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ba s\u00e0n giao d\u1ecbch HOSE, HNX v\u00e0 UPCOM hi\u1ec7n \u0111ang ni\u00eam y\u1ebft 1,627 c\u00f4ng ty v\u1edbi t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng 202 t\u1ef7 USD (t\u00ednh \u0111\u1ebfn th\u00e1ng 3 n\u0103m 2024). Theo d\u1eef li\u1ec7u t\u1eeb \u1ee6y ban Ch\u1ee9ng kho\u00e1n Nh\u00e0 n\u01b0\u1edbc, HOSE chi\u1ebfm 78% t\u1ed5ng v\u1ed1n h\u00f3a v\u1edbi ch\u1ec9 25% s\u1ed1 c\u00f4ng ty ni\u00eam y\u1ebft, ph\u1ea3n \u00e1nh s\u1ef1 t\u1eadp trung m\u1ea1nh m\u1ebd c\u1ee7a c\u00e1c doanh nghi\u1ec7p l\u1edbn t\u1ea1i \u0111\u00e2y.&nbsp;<b>Pocket Option<\/b>&nbsp;\u0111\u00e3 ph\u00e1t tri\u1ec3n c\u00e1c b\u1ed9 l\u1ecdc chuy\u00ean bi\u1ec7t \u0111\u1ec3 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam ph\u00e2n t\u00edch hi\u1ec7u qu\u1ea3&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n<\/b>&nbsp;d\u1ef1a tr\u00ean 15 ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ed1t l\u00f5i nh\u01b0 P\/E, EPS, ROE v\u00e0 bi\u00ean l\u1ee3i nhu\u1eadn.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>S\u00e0n giao d\u1ecbch<\/th>\n<th>S\u1ed1 l\u01b0\u1ee3ng c\u00f4ng ty ni\u00eam y\u1ebft (2024)<\/th>\n<th>T\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng (t\u1ef7 USD)<\/th>\n<th>Gi\u00e1 tr\u1ecb giao d\u1ecbch trung b\u00ecnh h\u00e0ng ng\u00e0y (tri\u1ec7u USD)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>HOSE<\/td>\n<td>424<\/td>\n<td>157.6<\/td>\n<td>435<\/td>\n<\/tr>\n<tr>\n<td>HNX<\/td>\n<td>347<\/td>\n<td>23.4<\/td>\n<td>52<\/td>\n<\/tr>\n<tr>\n<td>UPCOM<\/td>\n<td>856<\/td>\n<td>21.0<\/td>\n<td>27<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu theo v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Kinh nghi\u1ec7m \u0111\u1ea7u t\u01b0 cho th\u1ea5y c\u00e1ch hi\u1ec7u qu\u1ea3 nh\u1ea5t \u0111\u1ec3 hi\u1ec3u&nbsp;<b>ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u1edf Vi\u1ec7t Nam l\u00e0 d\u1ef1a tr\u00ean v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng. Ph\u00e2n lo\u1ea1i n\u00e0y kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t con s\u1ed1, m\u00e0 c\u00f2n ph\u1ea3n \u00e1nh s\u1ef1 \u1ed5n \u0111\u1ecbnh, thanh kho\u1ea3n v\u00e0 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng c\u1ee7a m\u1ed7i doanh nghi\u1ec7p trong b\u1ed1i c\u1ea3nh c\u1ee5 th\u1ec3 c\u1ee7a n\u1ec1n kinh t\u1ebf Vi\u1ec7t Nam.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>T\u1ea1i Vi\u1ec7t Nam, c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn c\u00f3 gi\u00e1 tr\u1ecb t\u1eeb 10,000 t\u1ef7 VND tr\u1edf l\u00ean (t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 400 tri\u1ec7u USD), th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi \u0111\u1ecbnh ngh\u0129a qu\u1ed1c t\u1ebf (th\u01b0\u1eddng l\u00e0 10 t\u1ef7 USD). Nh\u00f3m n\u00e0y bao g\u1ed3m 47 c\u00f4ng ty h\u00e0ng \u0111\u1ea7u nh\u01b0 Vingroup (VIC &#8211; v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng 12.8 t\u1ef7 USD), Vietcombank (VCB &#8211; 17.4 t\u1ef7 USD), v\u00e0 BIDV (BID &#8211; 8.6 t\u1ef7 USD), v\u1edbi c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 ri\u00eang bi\u1ec7t:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thanh kho\u1ea3n cao v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch trung b\u00ecnh 5-10 tri\u1ec7u c\u1ed5 phi\u1ebfu\/ng\u00e0y<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 trong kho\u1ea3ng \u00b12.5% trong m\u1ed9t ng\u00e0y giao d\u1ecbch b\u00ecnh th\u01b0\u1eddng<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>L\u1ecbch s\u1eed chi tr\u1ea3 c\u1ed5 t\u1ee9c \u0111\u1ec1u \u0111\u1eb7n trong 5-7 n\u0103m li\u00ean ti\u1ebfp v\u1edbi t\u1ef7 su\u1ea5t 3-6%\/n\u0103m<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi\u1ebfm 73% gi\u00e1 tr\u1ecb VN-Index v\u00e0 100% ch\u1ec9 s\u1ed1 VN30<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>D\u1eef li\u1ec7u t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;cho th\u1ea5y r\u1eb1ng c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn mang l\u1ea1i l\u1ee3i nhu\u1eadn trung b\u00ecnh 12.7%\/n\u0103m trong giai \u0111o\u1ea1n 2019-2024, th\u1ea5p h\u01a1n so v\u1edbi 18.5% c\u1ee7a c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a trung b\u00ecnh nh\u01b0ng v\u1edbi bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 25% (beta). Nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y ph\u00f9 h\u1ee3p nh\u1ea5t cho c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n t\u1eeb 3-5 n\u0103m, \u0111\u1eb7c bi\u1ec7t trong c\u00e1c giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng nh\u01b0 Q4\/2023.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a trung b\u00ecnh<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u00f3m v\u1ed1n h\u00f3a trung b\u00ecnh t\u1ea1i Vi\u1ec7t Nam (v\u1ed1n h\u00f3a 1,000-10,000 t\u1ef7 VND) hi\u1ec7n bao g\u1ed3m kho\u1ea3ng 178 c\u00f4ng ty trong giai \u0111o\u1ea1n t\u0103ng tr\u01b0\u1edfng m\u1ea1nh. M\u1ed9t v\u00ed d\u1ee5 \u0111i\u1ec3n h\u00ecnh l\u00e0 MWG, \u0111\u00e3 ph\u00e1t tri\u1ec3n t\u1eeb v\u1ed1n h\u00f3a trung b\u00ecnh l\u00ean v\u1ed1n h\u00f3a l\u1edbn v\u1edbi t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng doanh thu h\u00e0ng n\u0103m k\u00e9p (CAGR) 25.3% trong 5 n\u0103m. L\u1ee3i nhu\u1eadn trung b\u00ecnh cho nh\u00f3m n\u00e0y \u0111\u1ea1t 18.5%\/n\u0103m trong giai \u0111o\u1ea1n 2019-2024, cao h\u01a1n 5.8 \u0111i\u1ec3m ph\u1ea7n tr\u0103m so v\u1edbi v\u1ed1n h\u00f3a l\u1edbn.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Nh\u00f3m c\u1ed5 phi\u1ebfu<\/th>\n<th>V\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng (t\u1ef7 VND)<\/th>\n<th>S\u1ed1 l\u01b0\u1ee3ng c\u00f4ng ty<\/th>\n<th>L\u1ee3i nhu\u1eadn trung b\u00ecnh (2019-2024)<\/th>\n<th>Bi\u1ebfn \u0111\u1ed9ng (Beta)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>V\u1ed1n h\u00f3a l\u1edbn<\/td>\n<td>&gt;10,000<\/td>\n<td>47<\/td>\n<td>12.7%\/n\u0103m<\/td>\n<td>0.85<\/td>\n<\/tr>\n<tr>\n<td>V\u1ed1n h\u00f3a trung b\u00ecnh<\/td>\n<td>1,000 &#8211; 10,000<\/td>\n<td>178<\/td>\n<td>18.5%\/n\u0103m<\/td>\n<td>1.15<\/td>\n<\/tr>\n<tr>\n<td>V\u1ed1n h\u00f3a nh\u1ecf<\/td>\n<td>300 &#8211; 1,000<\/td>\n<td>245<\/td>\n<td>22.3%\/n\u0103m<\/td>\n<td>1.47<\/td>\n<\/tr>\n<tr>\n<td>V\u1ed1n h\u00f3a si\u00eau nh\u1ecf<\/td>\n<td>&lt;300<\/td>\n<td>1,157<\/td>\n<td>27.6%\/n\u0103m*<\/td>\n<td>1.92<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><i>*L\u01b0u \u00fd: L\u1ee3i nhu\u1eadn c\u1ee7a c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a si\u00eau nh\u1ecf c\u00f3 s\u1ef1 ph\u00e2n t\u00e1n c\u1ef1c \u0111oan t\u1eeb -60% \u0111\u1ebfn +215%\/n\u0103m<\/i><\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf &amp; si\u00eau nh\u1ecf<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf (300-1,000 t\u1ef7 VND) v\u00e0 v\u1ed1n h\u00f3a si\u00eau nh\u1ecf (d\u01b0\u1edbi 300 t\u1ef7 VND) chi\u1ebfm 86% s\u1ed1 c\u00f4ng ty ni\u00eam y\u1ebft nh\u01b0ng ch\u1ec9 \u0111\u00f3ng g\u00f3p 13.7% t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a Vi\u1ec7t Nam. \u0110\u1eb7c \u0111i\u1ec3m quan tr\u1ecdng nh\u1ea5t c\u1ee7a&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu \u1edf Vi\u1ec7t Nam<\/b>&nbsp;trong nh\u00f3m n\u00e0y l\u00e0 s\u1ef1 bi\u1ebfn \u0111\u1ed9ng c\u1ef1c \u0111oan trong ng\u1eafn h\u1ea1n:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 c\u00f3 th\u1ec3 \u0111\u1ea1t \u00b17% trong m\u1ed9t phi\u00ean giao d\u1ecbch b\u00ecnh th\u01b0\u1eddng, v\u00e0 th\u01b0\u1eddng xuy\u00ean ch\u1ea1m m\u1ee9c tr\u1ea7n\/s\u00e0n (\u00b110%)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thanh kho\u1ea3n th\u1ea5p v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch trung b\u00ecnh ch\u1ec9 50,000-200,000 c\u1ed5 phi\u1ebfu\/ng\u00e0y, khi\u1ebfn vi\u1ec7c tho\u00e1t v\u1ecb th\u1ebf tr\u1edf n\u00ean kh\u00f3 kh\u0103n<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00f4ng b\u1ed1 th\u00f4ng tin ch\u1eadm v\u00e0 kh\u00f4ng \u0111\u1ea7y \u0111\u1ee7 nh\u01b0 c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn (trung b\u00ecnh ch\u1eadm 3-5 ng\u00e0y)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>73 tr\u01b0\u1eddng h\u1ee3p gi\u00e1 t\u0103ng tr\u00ean 100% trong n\u0103m 2023, nh\u01b0ng c\u0169ng c\u00f3 52 tr\u01b0\u1eddng h\u1ee3p gi\u1ea3m tr\u00ean 50% gi\u00e1 tr\u1ecb<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Theo ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>, ph\u01b0\u01a1ng ph\u00e1p &#8220;giao d\u1ecbch \u0111\u1ed9ng l\u01b0\u1ee3ng&#8221; cho th\u1ea5y hi\u1ec7u qu\u1ea3 v\u01b0\u1ee3t tr\u1ed9i v\u1edbi nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y, v\u1edbi l\u1ee3i nhu\u1eadn trung b\u00ecnh 27.6%\/n\u0103m cho c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a si\u00eau nh\u1ecf v\u00e0 22.3%\/n\u0103m cho c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf. Tuy nhi\u00ean, \u0111\u00e2y c\u0169ng l\u00e0 nh\u00f3m c\u00f3 t\u1ef7 l\u1ec7 th\u1ea5t b\u1ea1i cao nh\u1ea5t, v\u1edbi 68% nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n b\u00e1o c\u00e1o thua l\u1ed7 khi giao d\u1ecbch nh\u00f3m n\u00e0y trong 6 th\u00e1ng \u0111\u1ea7u n\u0103m 2023.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu theo ng\u00e0nh<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e2u h\u1ecfi&nbsp;<b>c\u00f3 bao nhi\u00eau lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;theo ng\u00e0nh \u1edf Vi\u1ec7t Nam c\u00f3 c\u00e2u tr\u1ea3 l\u1eddi kh\u00e1c so v\u1edbi th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf. Trong khi ti\u00eau chu\u1ea9n GICS chia th\u00e0nh 11 nh\u00f3m ng\u00e0nh ch\u00ednh, th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam c\u00f3 nh\u1eefng \u0111\u1eb7c \u0111i\u1ec3m ri\u00eang v\u1edbi s\u1ef1 ph\u00e1t tri\u1ec3n kh\u00f4ng \u0111\u1ed3ng \u0111\u1ec1u gi\u1eefa c\u00e1c ng\u00e0nh v\u00e0 s\u1ef1 hi\u1ec7n di\u1ec7n m\u1ea1nh m\u1ebd c\u1ee7a c\u00e1c doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Nh\u00f3m ng\u00e0nh<\/th>\n<th>T\u1ef7 tr\u1ecdng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng<\/th>\n<th>P\/E trung b\u00ecnh 2024<\/th>\n<th>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn trung b\u00ecnh 3 n\u0103m<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Ng\u00e2n h\u00e0ng, T\u00e0i ch\u00ednh<\/td>\n<td>32.4%<\/td>\n<td>11.7<\/td>\n<td>18.3%<\/td>\n<\/tr>\n<tr>\n<td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n<\/td>\n<td>26.8%<\/td>\n<td>14.2<\/td>\n<td>-3.7% (2023), ph\u1ee5c h\u1ed3i Q1\/2024<\/td>\n<\/tr>\n<tr>\n<td>C\u00f4ng nghi\u1ec7p, S\u1ea3n xu\u1ea5t<\/td>\n<td>15.3%<\/td>\n<td>13.5<\/td>\n<td>12.5%<\/td>\n<\/tr>\n<tr>\n<td>B\u00e1n l\u1ebb, Ti\u00eau d\u00f9ng<\/td>\n<td>10.2%<\/td>\n<td>17.8<\/td>\n<td>15.7%<\/td>\n<\/tr>\n<tr>\n<td>D\u1ea7u kh\u00ed, N\u0103ng l\u01b0\u1ee3ng<\/td>\n<td>8.7%<\/td>\n<td>10.6<\/td>\n<td>-6.2% (bi\u1ebfn \u0111\u1ed9ng theo gi\u00e1 d\u1ea7u)<\/td>\n<\/tr>\n<tr>\n<td>C\u00f4ng ngh\u1ec7, Vi\u1ec5n th\u00f4ng<\/td>\n<td>4.3%<\/td>\n<td>16.5<\/td>\n<td>23.8%<\/td>\n<\/tr>\n<tr>\n<td>Kh\u00e1c<\/td>\n<td>2.3%<\/td>\n<td>12.3<\/td>\n<td>7.4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00e2n t\u00edch chu k\u1ef3 ng\u00e0nh ti\u1ebft l\u1ed9 m\u1ed9t s\u1ef1 th\u1eadt quan tr\u1ecdng: trong giai \u0111o\u1ea1n 2020-2024, ng\u00e0nh ng\u00e2n h\u00e0ng v\u00e0 c\u00f4ng ngh\u1ec7 t\u1ea1i Vi\u1ec7t Nam c\u00f3 t\u01b0\u01a1ng quan \u00e2m (-0.42), t\u1ea1o ra c\u01a1 h\u1ed9i \u0111\u1eb7c bi\u1ec7t cho c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0. D\u1eef li\u1ec7u t\u1eeb 78 qu\u1ef9 \u0111\u1ea7u t\u01b0 t\u1ea1i Vi\u1ec7t Nam cho th\u1ea5y r\u1eb1ng c\u00e1c danh m\u1ee5c \u0111\u1ea7u t\u01b0 ph\u00e2n b\u1ed5 gi\u1eefa hai ng\u00e0nh n\u00e0y theo t\u1ef7 l\u1ec7 60:40 \u0111\u00e3 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n VN-Index 7.3% trong giai \u0111o\u1ea1n 2020-2023.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Hi\u1ec3u r\u00f5 \u0111\u1eb7c \u0111i\u1ec3m chu k\u1ef3 ng\u00e0nh l\u00e0 y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh khi \u0111\u1ea7u t\u01b0 v\u00e0o&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam<\/b>. M\u1ed9t v\u00ed d\u1ee5 c\u1ee5 th\u1ec3 t\u1eeb 2022-2023: khi l\u00e3i su\u1ea5t t\u0103ng t\u1eeb 4% l\u00ean 6.5%, c\u1ed5 phi\u1ebfu ng\u00e2n h\u00e0ng m\u1ea5t trung b\u00ecnh 18.7% gi\u00e1 tr\u1ecb trong khi c\u1ed5 phi\u1ebfu \u0111i\u1ec7n l\u1ef1c ch\u1ec9 gi\u1ea3m 3.2%, t\u1ea1o ra s\u1ef1 kh\u00e1c bi\u1ec7t hi\u1ec7u su\u1ea5t \u0111\u00e1ng k\u1ec3 15.5%.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n lo\u1ea1i theo \u0111\u1eb7c \u0111i\u1ec3m \u0111\u1ea7u t\u01b0<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>N\u1eafm v\u1eefng \u0111\u1eb7c \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 l\u00e0 ch\u00eca kh\u00f3a \u0111\u1ec3 ch\u1ecdn \u0111\u00fang&nbsp;<b>lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u00e1 nh\u00e2n. T\u1ea1i Vi\u1ec7t Nam, ph\u00e2n lo\u1ea1i n\u00e0y c\u00e0ng quan tr\u1ecdng h\u01a1n khi 87% nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n ch\u01b0a x\u00e1c \u0111\u1ecbnh r\u00f5 phong c\u00e1ch \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh (theo kh\u1ea3o s\u00e1t c\u1ee7a Hi\u1ec7p h\u1ed9i Nh\u00e0 \u0111\u1ea7u t\u01b0 T\u00e0i ch\u00ednh Vi\u1ec7t Nam, 2023).<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng \u1edf Vi\u1ec7t Nam \u0111\u1ea1t t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn trung b\u00ecnh 25-35%\/n\u0103m, cao h\u01a1n nhi\u1ec1u so v\u1edbi m\u1ee9c trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng l\u00e0 15.2%. Bi\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng c\u1ee7a nh\u00f3m n\u00e0y th\u01b0\u1eddng t\u0103ng 1.5-3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m m\u1ed7i n\u0103m, trong khi t\u1ef7 l\u1ec7 P\/E c\u00f3 th\u1ec3 cao h\u01a1n 30-50% so v\u1edbi th\u1ecb tr\u01b0\u1eddng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>P\/E trung b\u00ecnh: 18-25 (so v\u1edbi 13.7 c\u1ee7a VN-Index)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ef7 l\u1ec7 gi\u1eef l\u1ea1i: 75-90% (thay v\u00ec tr\u1ea3 c\u1ed5 t\u1ee9c)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>ROE (L\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu): &gt;20%<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>CAGR doanh thu 5 n\u0103m: &gt;20%<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>V\u00ed d\u1ee5 \u0111\u00e1ng ch\u00fa \u00fd: MWG t\u0103ng 832% trong giai \u0111o\u1ea1n 2017-2021 nh\u1edd m\u00f4 h\u00ecnh b\u00e1n l\u1ebb \u0111\u1ed9t ph\u00e1; FPT t\u0103ng 412% trong giai \u0111o\u1ea1n 2019-2023 nh\u1edd m\u1ea3ng xu\u1ea5t kh\u1ea9u ph\u1ea7n m\u1ec1m t\u0103ng tr\u01b0\u1edfng 35%\/n\u0103m.&nbsp;<b>Pocket Option<\/b>&nbsp;cung c\u1ea5p b\u1ed9 l\u1ecdc &#8220;Momentum Scanner&#8221; gi\u00fap x\u00e1c \u0111\u1ecbnh c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng ngay khi ch\u00fang b\u1eaft \u0111\u1ea7u xu h\u01b0\u1edbng t\u0103ng m\u1ea1nh, \u0111\u00e3 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 n\u1eafm b\u1eaft c\u01a1 h\u1ed9i v\u1edbi HPG (+127% trong n\u0103m 2023) v\u00e0 DGC (+86% t\u1eeb Q4\/2023 \u0111\u1ebfn Q1\/2024).<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Trong b\u1ed1i c\u1ea3nh l\u00e3i su\u1ea5t c\u1ee7a Vi\u1ec7t Nam gi\u1ea3m m\u1ea1nh t\u1eeb 7.5% xu\u1ed1ng 4.5% (2022-2024), c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb \u0111\u00e3 ch\u1ee9ng t\u1ecf s\u1ee9c h\u1ea5p d\u1eabn \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng th\u00e1i. \u0110\u00e2y l\u00e0 nh\u1eefng c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 th\u1ea5p h\u01a1n \u00edt nh\u1ea5t 15-20% so v\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i, v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh n\u1ed5i b\u1eadt:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ch\u1ec9 s\u1ed1<\/th>\n<th>C\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb \u0111i\u1ec3n h\u00ecnh<\/th>\n<th>Ng\u01b0\u1ee1ng h\u1ea5p d\u1eabn t\u1ea1i VN<\/th>\n<th>V\u00ed d\u1ee5 c\u1ee5 th\u1ec3 (2023-2024)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>P\/E<\/td>\n<td>&lt;8.5<\/td>\n<td>&lt;60% c\u1ee7a ng\u00e0nh<\/td>\n<td>POW: 7.2 (so v\u1edbi trung b\u00ecnh ng\u00e0nh 12.8)<\/td>\n<\/tr>\n<tr>\n<td>P\/B<\/td>\n<td>&lt;1.2<\/td>\n<td>&lt;0.8 l\u1ea7n gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch<\/td>\n<td>VHC: 1.1 (khi gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch l\u00e0 1.4)<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c<\/td>\n<td>&gt;6%<\/td>\n<td>&gt;2 l\u1ea7n l\u00e3i su\u1ea5t ti\u1ebft ki\u1ec7m<\/td>\n<td>NT2: 8.3% (2023)<\/td>\n<\/tr>\n<tr>\n<td>EV\/EBITDA<\/td>\n<td>&lt;6<\/td>\n<td>&lt;50% trung b\u00ecnh ng\u00e0nh<\/td>\n<td>DPM: 3.8 (so v\u1edbi ng\u00e0nh 7.5)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t s\u1ed1 c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb \u0111\u00e1ng ch\u00fa \u00fd trong giai \u0111o\u1ea1n 2023-2024 bao g\u1ed3m VHC (V\u0129nh Ho\u00e0n) v\u00e0 DGW (Digiworld) v\u1edbi t\u1ef7 l\u1ec7 P\/E th\u1ea5p h\u01a1n 40% so v\u1edbi trung b\u00ecnh ng\u00e0nh, nh\u01b0ng sau \u0111\u00f3 \u0111\u00e3 t\u0103ng l\u1ea7n l\u01b0\u1ee3t 53% v\u00e0 67% khi th\u1ecb tr\u01b0\u1eddng nh\u1eadn ra gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a ch\u00fang. Khi th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c n\u00e0y, \u0111i\u1ec3m m\u1ea5u ch\u1ed1t l\u00e0 ph\u00e2n bi\u1ec7t gi\u1eefa &#8220;c\u1ed5 phi\u1ebfu r\u1ebb&#8221; v\u00e0 &#8220;c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb&#8221; &#8211; s\u1ef1 kh\u00e1c bi\u1ec7t ch\u00ednh l\u00e0 n\u1ec1n t\u1ea3ng kinh doanh v\u1eabn m\u1ea1nh m\u1ebd d\u00f9 b\u1ecb th\u1ecb tr\u01b0\u1eddng \u0111\u1ecbnh gi\u00e1 th\u1ea5p t\u1ea1m th\u1eddi.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>C\u1ed5 phi\u1ebfu c\u1ed5 t\u1ee9c<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>V\u1edbi l\u00e3i su\u1ea5t ti\u1ebft ki\u1ec7m t\u1ea1i Vi\u1ec7t Nam gi\u1ea3m xu\u1ed1ng c\u00f2n 3.8-4.8%\/n\u0103m v\u00e0o Q2\/2024, c\u1ed5 phi\u1ebfu c\u1ed5 t\u1ee9c \u0111\u00e3 tr\u1edf th\u00e0nh l\u1ef1a ch\u1ecdn h\u1ea5p d\u1eabn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh. Ph\u00e2n t\u00edch 83 c\u1ed5 phi\u1ebfu chi tr\u1ea3 c\u1ed5 t\u1ee9c \u0111\u1ec1u \u0111\u1eb7n trong 5 n\u0103m li\u00ean ti\u1ebfp t\u1ea1i Vi\u1ec7t Nam cho th\u1ea5y:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>27 c\u1ed5 phi\u1ebfu c\u00f3 t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c &gt;7%\/n\u0103m (REE, NT2, VSC, PVT)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ng\u00e0nh \u0111i\u1ec7n c\u00f3 t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c cao nh\u1ea5t, trung b\u00ecnh 7.8%\/n\u0103m<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>15 c\u00f4ng ty t\u0103ng m\u1ee9c c\u1ed5 t\u1ee9c m\u1ed7i n\u0103m trong 3 n\u0103m li\u00ean ti\u1ebfp<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>9 doanh nghi\u1ec7p chi tr\u1ea3 c\u1ea3 c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t v\u00e0 c\u1ed5 t\u1ee9c c\u1ed5 phi\u1ebfu trong c\u00f9ng m\u1ed9t n\u0103m<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Chi\u1ebfn l\u01b0\u1ee3c &#8220;C\u1ed5 t\u1ee9c k\u00e9p&#8221; (k\u1ebft h\u1ee3p c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t v\u00e0 t\u0103ng gi\u00e1) \u0111\u00e3 mang l\u1ea1i l\u1ee3i nhu\u1eadn \u1ea5n t\u01b0\u1ee3ng 18.5%\/n\u0103m trong giai \u0111o\u1ea1n 2019-2024 cho danh m\u1ee5c 12 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c theo d\u00f5i b\u1edfi&nbsp;<b>Pocket Option<\/b>. \u0110\u00e1ng ch\u00fa \u00fd trong s\u1ed1 n\u00e0y l\u00e0 REE v\u1edbi t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c 7.2% v\u00e0 t\u0103ng gi\u00e1 12.3%\/n\u0103m, t\u1ea1o ra t\u1ed5ng l\u1ee3i nhu\u1eadn 19.5%\/n\u0103m &#8211; g\u1ea5p 4 l\u1ea7n l\u00e3i su\u1ea5t ti\u1ebft ki\u1ec7m c\u00f9ng k\u1ef3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>C\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ngo\u00e0i c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ph\u00e2n lo\u1ea1i truy\u1ec1n th\u1ed1ng, Vi\u1ec7t Nam c\u00f2n c\u00f3 c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t ph\u1ea3n \u00e1nh qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i kinh t\u1ebf \u0111\u1eb7c th\u00f9 c\u1ee7a \u0111\u1ea5t n\u01b0\u1edbc t\u1eeb n\u1ec1n kinh t\u1ebf k\u1ebf ho\u1ea1ch sang kinh t\u1ebf th\u1ecb tr\u01b0\u1eddng.&nbsp;<b>Ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;theo ti\u00eau ch\u00ed n\u00e0y gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 hi\u1ec3u s\u00e2u h\u01a1n v\u1ec1 \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng v\u00e0 r\u1ee7i ro ti\u1ec1m \u1ea9n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Lo\u1ea1i c\u1ed5 phi\u1ebfu<\/th>\n<th>S\u1ed1 l\u01b0\u1ee3ng<\/th>\n<th>\u0110\u1eb7c \u0111i\u1ec3m quan tr\u1ecdng<\/th>\n<th>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>C\u1ed5 phi\u1ebfu DNNN c\u1ed5 ph\u1ea7n h\u00f3a<\/td>\n<td>147<\/td>\n<td>Nh\u00e0 n\u01b0\u1edbc s\u1edf h\u1eefu &gt;51%, ROE trung b\u00ecnh th\u1ea5p h\u01a1n 3.5% so v\u1edbi khu v\u1ef1c t\u01b0 nh\u00e2n<\/td>\n<td>Theo d\u00f5i l\u1ed9 tr\u00ecnh gi\u1ea3m s\u1edf h\u1eefu nh\u00e0 n\u01b0\u1edbc<\/td>\n<\/tr>\n<tr>\n<td>C\u1ed5 phi\u1ebfu doanh nghi\u1ec7p FDI<\/td>\n<td>62<\/td>\n<td>V\u1ed1n n\u01b0\u1edbc ngo\u00e0i &gt;49%, qu\u1ea3n tr\u1ecb qu\u1ed1c t\u1ebf, ROE cao h\u01a1n 4.2%<\/td>\n<td>\u01afu ti\u00ean giai \u0111o\u1ea1n m\u1edf r\u1ed9ng \u0111\u1ea7u t\u01b0 t\u1ea1i VN<\/td>\n<\/tr>\n<tr>\n<td>C\u1ed5 phi\u1ebfu doanh nghi\u1ec7p t\u01b0 nh\u00e2n<\/td>\n<td>738<\/td>\n<td>T\u1ed1c \u0111\u1ed9 ph\u00e1t tri\u1ec3n nhanh, linh ho\u1ea1t, bi\u1ebfn \u0111\u1ed9ng cao<\/td>\n<td>Ph\u00e2n t\u00edch k\u1ef9 l\u01b0\u1ee1ng l\u00e3nh \u0111\u1ea1o v\u00e0 m\u00f4 h\u00ecnh kinh doanh<\/td>\n<\/tr>\n<tr>\n<td>C\u1ed5 phi\u1ebfu ng\u00e0nh \u0111\u1ed9c quy\u1ec1n<\/td>\n<td>35<\/td>\n<td>Bi\u00ean l\u1ee3i nhu\u1eadn cao, t\u0103ng tr\u01b0\u1edfng ch\u1eadm, \u00edt c\u1ea1nh tranh<\/td>\n<td>\u0110\u1ea7u t\u01b0 d\u00e0i h\u1ea1n, thu nh\u1eadp c\u1ed5 t\u1ee9c<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00e2n t\u00edch tr\u01b0\u1eddng h\u1ee3p \u0111i\u1ec3n h\u00ecnh: SAB (SABECO) sau khi gi\u1ea3m s\u1edf h\u1eefu nh\u00e0 n\u01b0\u1edbc t\u1eeb 89.6% xu\u1ed1ng 36% v\u00e0o n\u0103m 2017 \u0111\u00e3 c\u1ea3i thi\u1ec7n ROE t\u1eeb 23.8% l\u00ean 30.5% trong 3 n\u0103m ti\u1ebfp theo. T\u01b0\u01a1ng t\u1ef1, ACV \u0111ang trong qu\u00e1 tr\u00ecnh gi\u1ea3m s\u1edf h\u1eefu nh\u00e0 n\u01b0\u1edbc t\u1eeb 95.4% xu\u1ed1ng 65% v\u00e0o n\u0103m 2025, t\u1ea1o ra c\u01a1 h\u1ed9i t\u01b0\u01a1ng t\u1ef1 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00f4ng c\u1ee5 &#8220;SOE Transition Tracker&#8221; t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 theo d\u00f5i l\u1ed9 tr\u00ecnh c\u1ed5 ph\u1ea7n h\u00f3a v\u00e0 tho\u00e1i v\u1ed1n nh\u00e0 n\u01b0\u1edbc c\u1ee7a 147 doanh nghi\u1ec7p, x\u00e1c \u0111\u1ecbnh th\u1eddi \u0111i\u1ec3m t\u1ed1i \u01b0u \u0111\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i n\u00e0y.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 theo lo\u1ea1i c\u1ed5 phi\u1ebfu t\u1ea1i Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Sau khi hi\u1ec3u r\u00f5&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n<\/b>, b\u01b0\u1edbc ti\u1ebfp theo l\u00e0 x\u00e2y d\u1ef1ng chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u00e1 nh\u00e2n v\u00e0 kh\u1ea9u v\u1ecb r\u1ee7i ro. D\u01b0\u1edbi \u0111\u00e2y l\u00e0 5 chi\u1ebfn l\u01b0\u1ee3c \u0111\u00e3 \u0111\u01b0\u1ee3c ki\u1ec3m ch\u1ee9ng trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c b\u1ea3o to\u00e0n v\u1ed1n<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00f9 h\u1ee3p cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u01b0u ti\u00ean an to\u00e0n v\u1ed1n, \u0111\u1eb7c bi\u1ec7t trong giai \u0111o\u1ea1n tr\u01b0\u1edbc khi ngh\u1ec9 h\u01b0u ho\u1eb7c khi t\u00edch l\u0169y cho c\u00e1c m\u1ee5c ti\u00eau ng\u1eafn h\u1ea1n 1-2 n\u0103m:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00e2n b\u1ed5: 65-70% blue-chips v\u1edbi l\u1ecbch s\u1eed c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh &gt;5 n\u0103m (VCB, REE, FPT)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>15-20% tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p \u0111\u01b0\u1ee3c x\u1ebfp h\u1ea1ng AA- tr\u1edf l\u00ean (l\u1ee3i su\u1ea5t 6.5-7.5%\/n\u0103m)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>10-15% ti\u1ec1n m\u1eb7t \u0111\u1ec3 n\u1eafm b\u1eaft c\u01a1 h\u1ed9i khi th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec1u ch\u1ec9nh &gt;15%<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1eddi gian n\u1eafm gi\u1eef trung b\u00ecnh: 24-36 th\u00e1ng<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u1ebft qu\u1ea3 \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c minh: 9.7%\/n\u0103m (2020-2023) v\u1edbi bi\u1ebfn \u0111\u1ed9ng th\u1ea5p (ph\u1ea1m vi dao \u0111\u1ed9ng \u00b112%)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Chi\u1ebfn l\u01b0\u1ee3c<\/th>\n<th>Ph\u00e2n b\u1ed5 t\u1ed1i \u01b0u<\/th>\n<th>L\u1ee3i nhu\u1eadn trung b\u00ecnh (2020-2023)<\/th>\n<th>Bi\u1ebfn \u0111\u1ed9ng (M\u1ee9c gi\u1ea3m t\u1ed1i \u0111a)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>B\u1ea3o to\u00e0n v\u1ed1n<\/td>\n<td>70% blue-chip, 20% tr\u00e1i phi\u1ebfu, 10% ti\u1ec1n m\u1eb7t<\/td>\n<td>9.7%\/n\u0103m<\/td>\n<td>-18.5%<\/td>\n<\/tr>\n<tr>\n<td>Thu nh\u1eadp \u1ed5n \u0111\u1ecbnh<\/td>\n<td>60% c\u1ed5 t\u1ee9c cao, 25% blue-chip, 15% ti\u1ec1n m\u1eb7t<\/td>\n<td>13.2%\/n\u0103m<\/td>\n<td>-22.3%<\/td>\n<\/tr>\n<tr>\n<td>T\u0103ng tr\u01b0\u1edfng c\u00e2n b\u1eb1ng<\/td>\n<td>50% blue-chip, 30% v\u1ed1n h\u00f3a trung b\u00ecnh, 15% v\u1ed1n h\u00f3a nh\u1ecf, 5% ti\u1ec1n m\u1eb7t<\/td>\n<td>16.8%\/n\u0103m<\/td>\n<td>-28.7%<\/td>\n<\/tr>\n<tr>\n<td>T\u0103ng tr\u01b0\u1edfng t\u00edch c\u1ef1c<\/td>\n<td>30% blue-chip, 45% v\u1ed1n h\u00f3a trung b\u00ecnh, 20% v\u1ed1n h\u00f3a nh\u1ecf, 5% ti\u1ec1n m\u1eb7t<\/td>\n<td>21.5%\/n\u0103m<\/td>\n<td>-35.2%<\/td>\n<\/tr>\n<tr>\n<td>\u0110\u1ea7u c\u01a1<\/td>\n<td>15% blue-chip, 25% v\u1ed1n h\u00f3a trung b\u00ecnh, 55% v\u1ed1n h\u00f3a nh\u1ecf, 5% ti\u1ec1n m\u1eb7t<\/td>\n<td>27.8%\/n\u0103m*<\/td>\n<td>-47.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><i>*L\u01b0u \u00fd: Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u c\u01a1 c\u00f3 s\u1ef1 ph\u00e2n t\u00e1n k\u1ebft qu\u1ea3 r\u1ea5t l\u1edbn v\u00e0 ph\u1ee5 thu\u1ed9c nhi\u1ec1u v\u00e0o th\u1eddi \u0111i\u1ec3m v\u00e0o\/ra th\u1ecb tr\u01b0\u1eddng<\/i><\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>D\u1eef li\u1ec7u t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;ti\u1ebft l\u1ed9 m\u1ed9t s\u1ef1 th\u1eadt \u0111\u00e1ng ch\u00fa \u00fd: 78% nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n t\u1ea1i Vi\u1ec7t Nam ch\u1ecdn c\u00e1c chi\u1ebfn l\u01b0\u1ee3c qu\u00e1 r\u1ee7i ro so v\u1edbi kh\u1ea9u v\u1ecb r\u1ee7i ro th\u1ef1c t\u1ebf c\u1ee7a h\u1ecd. K\u1ebft qu\u1ea3 l\u00e0 h\u1ecd th\u01b0\u1eddng r\u00fat kh\u1ecfi th\u1ecb tr\u01b0\u1eddng t\u1ea1i c\u00e1c \u0111\u00e1y chu k\u1ef3 (th\u01b0\u1eddng sau khi danh m\u1ee5c gi\u1ea3m &gt;30%), d\u1eabn \u0111\u1ebfn k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 d\u01b0\u1edbi m\u1ee9c trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng 7.5% m\u1ed7i n\u0103m.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Xu h\u01b0\u1edbng m\u1edbi trong ph\u00e2n lo\u1ea1i v\u00e0 \u0111\u1ea7u t\u01b0 c\u1ed5 phi\u1ebfu t\u1ea1i Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111ang tr\u1ea3i qua m\u1ed9t l\u00e0n s\u00f3ng chuy\u1ec3n \u0111\u1ed5i m\u1ea1nh m\u1ebd, m\u1edf ra nh\u1eefng c\u00e1ch ti\u1ebfp c\u1eadn m\u1edbi \u0111\u1ed1i v\u1edbi&nbsp;<b>ph\u00e2n lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;v\u00e0 \u0111\u1ea7u t\u01b0:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>ESG (M\u00f4i tr\u01b0\u1eddng, X\u00e3 h\u1ed9i, Qu\u1ea3n tr\u1ecb): 23 c\u00f4ng ty Vi\u1ec7t Nam \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o c\u00e1c ch\u1ec9 s\u1ed1 ESG qu\u1ed1c t\u1ebf, v\u1edbi hi\u1ec7u su\u1ea5t v\u01b0\u1ee3t tr\u1ed9i h\u01a1n th\u1ecb tr\u01b0\u1eddng chung 5.7% trong giai \u0111o\u1ea1n 2021-2023<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ed5 phi\u1ebfu ng\u00e0nh c\u00f4ng ngh\u1ec7: T\u0103ng tr\u01b0\u1edfng 37.2% v\u1ec1 v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng trong 3 n\u0103m qua, d\u1eabn \u0111\u1ea7u b\u1edfi FPT (+182%), CMG (+145%) v\u00e0 ng\u00e0y c\u00e0ng nhi\u1ec1u startup c\u00f4ng ngh\u1ec7 chu\u1ea9n b\u1ecb IPO nh\u01b0 VNG, Tiki<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ea7u t\u01b0 theo ch\u1ee7 \u0111\u1ec1: C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c \u0111ang ph\u00e2n b\u1ed5 22.7% danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd v\u00e0o c\u00e1c ch\u1ee7 \u0111\u1ec1 \u0111\u1ea7u t\u01b0 nh\u01b0 h\u1ea1 t\u1ea7ng (t\u0103ng tr\u01b0\u1edfng 15.3%\/n\u0103m), n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o (+23.8%\/n\u0103m) v\u00e0 ti\u00eau d\u00f9ng trung l\u01b0u (+18.5%\/n\u0103m)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>ETF n\u1ed9i \u0111\u1ecba: Quy m\u00f4 t\u0103ng 378% trong 3 n\u0103m, \u0111\u1ea1t 1.2 t\u1ef7 USD v\u00e0o Q1\/2024, t\u1ea1o c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 theo ng\u00e0nh v\u00e0 ch\u1ec9 s\u1ed1 v\u1edbi chi ph\u00ed th\u1ea5p<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;\u0111\u00e3 ph\u00e1t tri\u1ec3n b\u1ed9 l\u1ecdc &#8220;Thematic Scanner&#8221; \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh c\u00e1c c\u1ed5 phi\u1ebfu h\u01b0\u1edfng l\u1ee3i t\u1eeb 12 xu h\u01b0\u1edbng l\u1edbn trong n\u1ec1n kinh t\u1ebf Vi\u1ec7t Nam. C\u00f4ng c\u1ee5 n\u00e0y \u0111\u00e3 gi\u00fap nh\u1eadn di\u1ec7n s\u1edbm c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o nh\u01b0 PC1 (+127% trong giai \u0111o\u1ea1n 2022-2023) v\u00e0 REE (+85% trong c\u00f9ng k\u1ef3).<\/p>\n<\/div>\n    <div class=\"po-container po-container_width_article\">\n        <a href=\"\/en\/quick-start\/\" class=\"po-line-banner po-article-page__line-banner\">\n            <svg class=\"svg-image po-line-banner__logo\" fill=\"currentColor\" width=\"auto\" height=\"auto\"\n                 aria-hidden=\"true\">\n                <use href=\"#svg-img-logo-white\"><\/use>\n            <\/svg>\n            <span class=\"po-line-banner__btn\"><\/span>\n        <\/a>\n    <\/div>\n    \n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>K\u1ebft lu\u1eadn: X\u00e2y d\u1ef1ng chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 cho t\u1eebng lo\u1ea1i c\u1ed5 phi\u1ebfu<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Hi\u1ec3u s\u00e2u v\u1ec1&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;kh\u00f4ng ch\u1ec9 l\u00e0 ki\u1ebfn th\u1ee9c l\u00fd thuy\u1ebft m\u00e0 c\u00f2n l\u00e0 n\u1ec1n t\u1ea3ng thi\u1ebft y\u1ebfu \u0111\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam li\u00ean t\u1ee5c bi\u1ebfn \u0111\u1ed5i v\u00e0 bi\u1ebfn \u0111\u1ed9ng. M\u1ed7i lo\u1ea1i c\u1ed5 phi\u1ebfu c\u00f3 vai tr\u00f2 ri\u00eang trong h\u00e0nh tr\u00ecnh t\u00e0i ch\u00ednh c\u1ee7a b\u1ea1n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>B\u1eb1ng c\u00e1ch k\u1ebft h\u1ee3p c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu kh\u00e1c nhau theo t\u1ef7 l\u1ec7 ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau c\u00e1 nh\u00e2n, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t tr\u1ed9i so v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng. Ph\u00e2n t\u00edch d\u1eef li\u1ec7u t\u1eeb 1,200 t\u00e0i kho\u1ea3n kh\u00e1ch h\u00e0ng c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;t\u1ea1i Vi\u1ec7t Nam cho th\u1ea5y r\u1eb1ng c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ea1t hi\u1ec7u su\u1ea5t cao nh\u1ea5t (top 10%) \u0111\u1ec1u \u00e1p d\u1ee5ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n \u0111\u1ed9ng, \u0111i\u1ec1u ch\u1ec9nh t\u1ef7 tr\u1ecdng gi\u1eefa c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu khi t\u1ef7 l\u1ec7 P\/E c\u1ee7a VN-Index dao \u0111\u1ed9ng h\u01a1n 15% so v\u1edbi trung b\u00ecnh 5 n\u0103m.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam v\u1edbi t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng k\u00e9p 12.7%\/n\u0103m trong th\u1eadp k\u1ef7 qua v\u00e0 thanh kho\u1ea3n ng\u00e0y c\u00e0ng \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n (t\u1eeb 150 tri\u1ec7u USD\/ng\u00e0y v\u00e0o n\u0103m 2019 l\u00ean 520 tri\u1ec7u USD\/ng\u00e0y v\u00e0o n\u0103m 2024) \u0111ang m\u1edf ra nhi\u1ec1u c\u01a1 h\u1ed9i cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 am hi\u1ec3u. V\u1edbi n\u1ec1n t\u1ea3ng ki\u1ebfn th\u1ee9c v\u1eefng ch\u1eafc v\u1ec1&nbsp;<b>c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu<\/b>&nbsp;v\u00e0 c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch chuy\u00ean s\u00e2u t\u1eeb&nbsp;<b>Pocket Option<\/b>, con \u0111\u01b0\u1eddng t\u00e0i ch\u00ednh c\u1ee7a b\u1ea1n s\u1ebd tr\u1edf n\u00ean r\u00f5 r\u00e0ng v\u00e0 hi\u1ec7u qu\u1ea3 h\u01a1n bao gi\u1edd h\u1ebft.<\/p>\n<\/div>\n"},"faq":[{"question":"C\u00f3 bao nhi\u00eau lo\u1ea1i c\u1ed5 phi\u1ebfu ch\u00ednh tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam?","answer":"Tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, hi\u1ec7n c\u00f3 4 lo\u1ea1i c\u1ed5 phi\u1ebfu ch\u00ednh n\u1ebfu ph\u00e2n lo\u1ea1i theo v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng: c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn (tr\u00ean 10.000 t\u1ef7 VND - 47 c\u00f4ng ty), c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a trung b\u00ecnh (1.000-10.000 t\u1ef7 VND - 178 c\u00f4ng ty), c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf (300-1.000 t\u1ef7 VND - 245 c\u00f4ng ty), v\u00e0 c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a si\u00eau nh\u1ecf (d\u01b0\u1edbi 300 t\u1ef7 VND - 1.157 c\u00f4ng ty). Ngo\u00e0i ra, c\u00f2n c\u00f3 ph\u00e2n lo\u1ea1i theo ng\u00e0nh (11 nh\u00f3m ch\u00ednh), \u0111\u1eb7c \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 (t\u0103ng tr\u01b0\u1edfng, gi\u00e1 tr\u1ecb, c\u1ed5 t\u1ee9c), v\u00e0 \u0111\u1eb7c \u0111i\u1ec3m ri\u00eang c\u1ee7a Vi\u1ec7t Nam (doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc, FDI, t\u01b0 nh\u00e2n, \u0111\u1ed9c quy\u1ec1n)."},{"question":"C\u1ed5 phi\u1ebfu blue-chip \u1edf Vi\u1ec7t Nam l\u00e0 g\u00ec v\u00e0 \u0111\u1eb7c \u0111i\u1ec3m c\u1ee7a ch\u00fang l\u00e0 g\u00ec?","answer":"C\u1ed5 phi\u1ebfu blue-chip t\u1ea1i Vi\u1ec7t Nam l\u00e0 c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn (v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng tr\u00ean 10.000 t\u1ef7 VND) c\u1ee7a c\u00e1c c\u00f4ng ty h\u00e0ng \u0111\u1ea7u v\u1edbi b\u1ed1n \u0111\u1eb7c \u0111i\u1ec3m ch\u00ednh: thanh kho\u1ea3n cao (5-10 tri\u1ec7u c\u1ed5 phi\u1ebfu\/ng\u00e0y), bi\u1ebfn \u0111\u1ed9ng gi\u00e1 \u1ed5n \u0111\u1ecbnh (th\u01b0\u1eddng \u00b12,5%\/ng\u00e0y), l\u1ecbch s\u1eed c\u1ed5 t\u1ee9c nh\u1ea5t qu\u00e1n (5-7 n\u0103m li\u00ean ti\u1ebfp v\u1edbi l\u1ee3i su\u1ea5t 3-6%\/n\u0103m), v\u00e0 t\u1ef7 tr\u1ecdng \u0111\u00e1ng k\u1ec3 trong c\u00e1c ch\u1ec9 s\u1ed1 (73% c\u1ee7a VN-Index, 100% c\u1ee7a VN30). C\u00e1c blue-chip \u0111i\u1ec3n h\u00ecnh bao g\u1ed3m VCB (v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng 17,4 t\u1ef7 USD), VIC (12,8 t\u1ef7 USD), BID (8,6 t\u1ef7 USD), v\u00e0 mang l\u1ea1i l\u1ee3i nhu\u1eadn trung b\u00ecnh 12,7%\/n\u0103m trong giai \u0111o\u1ea1n 2019-2024 v\u1edbi \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng (beta) ch\u1ec9 0,85 - th\u1ea5p h\u01a1n 25% so v\u1edbi c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a trung b\u00ecnh."},{"question":"L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 x\u00e2y d\u1ef1ng m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u00e2n b\u1eb1ng v\u1edbi c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu kh\u00e1c nhau?","answer":"\u0110\u1ec3 x\u00e2y d\u1ef1ng m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u00e2n b\u1eb1ng hi\u1ec7u qu\u1ea3, h\u00e3y l\u00e0m theo 5 b\u01b0\u1edbc sau: 1) X\u00e1c \u0111\u1ecbnh ch\u00ednh x\u00e1c kh\u1ea9u v\u1ecb r\u1ee7i ro v\u00e0 m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u1ee7a b\u1ea1n th\u00f4ng qua c\u00e1c b\u00e0i ki\u1ec3m tra c\u1ee5 th\u1ec3 (kh\u00f4ng ch\u1ec9 d\u1ef1a tr\u00ean c\u1ea3m gi\u00e1c); 2) \u00c1p d\u1ee5ng ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n theo m\u00f4 h\u00ecnh \"T\u0103ng tr\u01b0\u1edfng C\u00e2n b\u1eb1ng\" v\u1edbi t\u1ef7 l\u1ec7 50% blue-chips, 30% mid-caps, 15% small-caps, v\u00e0 5% ti\u1ec1n m\u1eb7t, \u0111\u00e3 ch\u1ee9ng minh hi\u1ec7u su\u1ea5t 16.8%\/n\u0103m trong giai \u0111o\u1ea1n 2020-2023; 3) \u0110a d\u1ea1ng h\u00f3a theo ng\u00e0nh v\u1edbi c\u00e1c m\u1ed1i t\u01b0\u01a1ng quan ti\u00eau c\u1ef1c nh\u01b0 ng\u00e2n h\u00e0ng v\u00e0 c\u00f4ng ngh\u1ec7 (t\u01b0\u01a1ng quan -0.42); 4) K\u1ebft h\u1ee3p 60% c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng v\u1edbi 40% c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb \u0111\u1ec3 c\u00e2n b\u1eb1ng bi\u1ebfn \u0111\u1ed9ng; 5) \u00c1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c \"t\u00e1i c\u00e2n b\u1eb1ng\" \u0111\u1ecbnh k\u1ef3 m\u1ed7i 6 th\u00e1ng ho\u1eb7c khi m\u1ed9t nh\u00f3m t\u00e0i s\u1ea3n dao \u0111\u1ed9ng h\u01a1n 20% so v\u1edbi ph\u00e2n b\u1ed5 m\u1ee5c ti\u00eau."},{"question":"C\u1ed5 phi\u1ebfu penny c\u00f3 ph\u00f9 h\u1ee3p cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi kh\u00f4ng?","answer":"C\u1ed5 phi\u1ebfu penny (\u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 d\u01b0\u1edbi 10.000 VND, thu\u1ed9c nh\u00f3m v\u1ed1n h\u00f3a nh\u1ecf) kh\u00f4ng ph\u00f9 h\u1ee3p cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi v\u00ec 5 l\u00fd do c\u1ee5 th\u1ec3: 1) Bi\u1ebfn \u0111\u1ed9ng c\u1ef1c \u0111oan (\u00b17-10%\/ng\u00e0y) t\u1ea1o \u00e1p l\u1ef1c t\u00e2m l\u00fd khi\u1ebfn 68% nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi thua l\u1ed7 khi giao d\u1ecbch nh\u00f3m n\u00e0y; 2) Thanh kho\u1ea3n th\u1ea5p (ch\u1ec9 50.000-200.000 c\u1ed5 phi\u1ebfu\/ng\u00e0y) khi\u1ebfn vi\u1ec7c tho\u00e1t kh\u1ecfi v\u1ecb th\u1ebf tr\u1edf n\u00ean kh\u00f3 kh\u0103n; 3) Ch\u1ea5t l\u01b0\u1ee3ng th\u00f4ng tin k\u00e9m v\u1edbi vi\u1ec7c c\u00f4ng b\u1ed1 th\u00f4ng tin ch\u1eadm tr\u1ec5 3-5 ng\u00e0y so v\u1edbi c\u00e1c c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn; 4) C\u01a1 ch\u1ebf qu\u1ea3n tr\u1ecb doanh nghi\u1ec7p y\u1ebfu k\u00e9m v\u1edbi 43% c\u00f4ng ty v\u1ed1n h\u00f3a nh\u1ecf kh\u00f4ng \u0111\u00e1p \u1ee9ng ti\u00eau chu\u1ea9n minh b\u1ea1ch c\u1ee7a HOSE; 5) R\u1ee7i ro cao v\u1edbi 52 c\u1ed5 phi\u1ebfu m\u1ea5t h\u01a1n 50% gi\u00e1 tr\u1ecb trong n\u0103m 2023. Nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi n\u00ean b\u1eaft \u0111\u1ea7u v\u1edbi c\u1ed5 phi\u1ebfu blue-chip \u1ed5n \u0111\u1ecbnh ho\u1eb7c v\u1ed1n h\u00f3a trung b\u00ecnh tr\u01b0\u1edbc khi xem x\u00e9t c\u1ed5 phi\u1ebfu penny."},{"question":"S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng v\u00e0 c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam l\u00e0 g\u00ec?","answer":"Tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam, c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng v\u00e0 c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb kh\u00e1c bi\u1ec7t r\u00f5 r\u1ec7t qua 5 y\u1ebfu t\u1ed1 ch\u00ednh: 1) \u0110\u1ecbnh gi\u00e1: P\/E c\u1ee7a c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng cao (18-25) so v\u1edbi c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb th\u1ea5p (<8.5); 2) T\u0103ng tr\u01b0\u1edfng: c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng \u0111\u1ea1t 25-35%\/n\u0103m v\u1ec1 l\u1ee3i nhu\u1eadn so v\u1edbi 8-12% \u1ed5n \u0111\u1ecbnh c\u1ee7a c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb; 3) C\u1ed5 t\u1ee9c: c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng t\u00e1i \u0111\u1ea7u t\u01b0 75-90% l\u1ee3i nhu\u1eadn trong khi c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb tr\u1ea3 c\u1ed5 t\u1ee9c cao (>6%\/n\u0103m); 4) Bi\u1ebfn \u0111\u1ed9ng: Beta c\u1ee7a c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng th\u01b0\u1eddng >1.3 so v\u1edbi <0.9 c\u1ee7a c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb; 5) Hi\u1ec7u su\u1ea5t trong chu k\u1ef3 kinh t\u1ebf: c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng v\u01b0\u1ee3t tr\u1ed9i trong giai \u0111o\u1ea1n l\u00e3i su\u1ea5t th\u1ea5p (nh\u01b0 2020-2021: +48.7%) trong khi c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb m\u1ea1nh h\u01a1n khi l\u00e3i su\u1ea5t t\u0103ng (2022-2023: -8.5% so v\u1edbi -18.7% c\u1ee7a c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng)."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"C\u00f3 bao nhi\u00eau lo\u1ea1i c\u1ed5 phi\u1ebfu ch\u00ednh tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam?","answer":"Tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, hi\u1ec7n c\u00f3 4 lo\u1ea1i c\u1ed5 phi\u1ebfu ch\u00ednh n\u1ebfu ph\u00e2n lo\u1ea1i theo v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng: c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn (tr\u00ean 10.000 t\u1ef7 VND - 47 c\u00f4ng ty), c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a trung b\u00ecnh (1.000-10.000 t\u1ef7 VND - 178 c\u00f4ng ty), c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf (300-1.000 t\u1ef7 VND - 245 c\u00f4ng ty), v\u00e0 c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a si\u00eau nh\u1ecf (d\u01b0\u1edbi 300 t\u1ef7 VND - 1.157 c\u00f4ng ty). Ngo\u00e0i ra, c\u00f2n c\u00f3 ph\u00e2n lo\u1ea1i theo ng\u00e0nh (11 nh\u00f3m ch\u00ednh), \u0111\u1eb7c \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 (t\u0103ng tr\u01b0\u1edfng, gi\u00e1 tr\u1ecb, c\u1ed5 t\u1ee9c), v\u00e0 \u0111\u1eb7c \u0111i\u1ec3m ri\u00eang c\u1ee7a Vi\u1ec7t Nam (doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc, FDI, t\u01b0 nh\u00e2n, \u0111\u1ed9c quy\u1ec1n)."},{"question":"C\u1ed5 phi\u1ebfu blue-chip \u1edf Vi\u1ec7t Nam l\u00e0 g\u00ec v\u00e0 \u0111\u1eb7c \u0111i\u1ec3m c\u1ee7a ch\u00fang l\u00e0 g\u00ec?","answer":"C\u1ed5 phi\u1ebfu blue-chip t\u1ea1i Vi\u1ec7t Nam l\u00e0 c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn (v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng tr\u00ean 10.000 t\u1ef7 VND) c\u1ee7a c\u00e1c c\u00f4ng ty h\u00e0ng \u0111\u1ea7u v\u1edbi b\u1ed1n \u0111\u1eb7c \u0111i\u1ec3m ch\u00ednh: thanh kho\u1ea3n cao (5-10 tri\u1ec7u c\u1ed5 phi\u1ebfu\/ng\u00e0y), bi\u1ebfn \u0111\u1ed9ng gi\u00e1 \u1ed5n \u0111\u1ecbnh (th\u01b0\u1eddng \u00b12,5%\/ng\u00e0y), l\u1ecbch s\u1eed c\u1ed5 t\u1ee9c nh\u1ea5t qu\u00e1n (5-7 n\u0103m li\u00ean ti\u1ebfp v\u1edbi l\u1ee3i su\u1ea5t 3-6%\/n\u0103m), v\u00e0 t\u1ef7 tr\u1ecdng \u0111\u00e1ng k\u1ec3 trong c\u00e1c ch\u1ec9 s\u1ed1 (73% c\u1ee7a VN-Index, 100% c\u1ee7a VN30). C\u00e1c blue-chip \u0111i\u1ec3n h\u00ecnh bao g\u1ed3m VCB (v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng 17,4 t\u1ef7 USD), VIC (12,8 t\u1ef7 USD), BID (8,6 t\u1ef7 USD), v\u00e0 mang l\u1ea1i l\u1ee3i nhu\u1eadn trung b\u00ecnh 12,7%\/n\u0103m trong giai \u0111o\u1ea1n 2019-2024 v\u1edbi \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng (beta) ch\u1ec9 0,85 - th\u1ea5p h\u01a1n 25% so v\u1edbi c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a trung b\u00ecnh."},{"question":"L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 x\u00e2y d\u1ef1ng m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u00e2n b\u1eb1ng v\u1edbi c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu kh\u00e1c nhau?","answer":"\u0110\u1ec3 x\u00e2y d\u1ef1ng m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u00e2n b\u1eb1ng hi\u1ec7u qu\u1ea3, h\u00e3y l\u00e0m theo 5 b\u01b0\u1edbc sau: 1) X\u00e1c \u0111\u1ecbnh ch\u00ednh x\u00e1c kh\u1ea9u v\u1ecb r\u1ee7i ro v\u00e0 m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u1ee7a b\u1ea1n th\u00f4ng qua c\u00e1c b\u00e0i ki\u1ec3m tra c\u1ee5 th\u1ec3 (kh\u00f4ng ch\u1ec9 d\u1ef1a tr\u00ean c\u1ea3m gi\u00e1c); 2) \u00c1p d\u1ee5ng ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n theo m\u00f4 h\u00ecnh \"T\u0103ng tr\u01b0\u1edfng C\u00e2n b\u1eb1ng\" v\u1edbi t\u1ef7 l\u1ec7 50% blue-chips, 30% mid-caps, 15% small-caps, v\u00e0 5% ti\u1ec1n m\u1eb7t, \u0111\u00e3 ch\u1ee9ng minh hi\u1ec7u su\u1ea5t 16.8%\/n\u0103m trong giai \u0111o\u1ea1n 2020-2023; 3) \u0110a d\u1ea1ng h\u00f3a theo ng\u00e0nh v\u1edbi c\u00e1c m\u1ed1i t\u01b0\u01a1ng quan ti\u00eau c\u1ef1c nh\u01b0 ng\u00e2n h\u00e0ng v\u00e0 c\u00f4ng ngh\u1ec7 (t\u01b0\u01a1ng quan -0.42); 4) K\u1ebft h\u1ee3p 60% c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng v\u1edbi 40% c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb \u0111\u1ec3 c\u00e2n b\u1eb1ng bi\u1ebfn \u0111\u1ed9ng; 5) \u00c1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c \"t\u00e1i c\u00e2n b\u1eb1ng\" \u0111\u1ecbnh k\u1ef3 m\u1ed7i 6 th\u00e1ng ho\u1eb7c khi m\u1ed9t nh\u00f3m t\u00e0i s\u1ea3n dao \u0111\u1ed9ng h\u01a1n 20% so v\u1edbi ph\u00e2n b\u1ed5 m\u1ee5c ti\u00eau."},{"question":"C\u1ed5 phi\u1ebfu penny c\u00f3 ph\u00f9 h\u1ee3p cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi kh\u00f4ng?","answer":"C\u1ed5 phi\u1ebfu penny (\u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 d\u01b0\u1edbi 10.000 VND, thu\u1ed9c nh\u00f3m v\u1ed1n h\u00f3a nh\u1ecf) kh\u00f4ng ph\u00f9 h\u1ee3p cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi v\u00ec 5 l\u00fd do c\u1ee5 th\u1ec3: 1) Bi\u1ebfn \u0111\u1ed9ng c\u1ef1c \u0111oan (\u00b17-10%\/ng\u00e0y) t\u1ea1o \u00e1p l\u1ef1c t\u00e2m l\u00fd khi\u1ebfn 68% nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi thua l\u1ed7 khi giao d\u1ecbch nh\u00f3m n\u00e0y; 2) Thanh kho\u1ea3n th\u1ea5p (ch\u1ec9 50.000-200.000 c\u1ed5 phi\u1ebfu\/ng\u00e0y) khi\u1ebfn vi\u1ec7c tho\u00e1t kh\u1ecfi v\u1ecb th\u1ebf tr\u1edf n\u00ean kh\u00f3 kh\u0103n; 3) Ch\u1ea5t l\u01b0\u1ee3ng th\u00f4ng tin k\u00e9m v\u1edbi vi\u1ec7c c\u00f4ng b\u1ed1 th\u00f4ng tin ch\u1eadm tr\u1ec5 3-5 ng\u00e0y so v\u1edbi c\u00e1c c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn; 4) C\u01a1 ch\u1ebf qu\u1ea3n tr\u1ecb doanh nghi\u1ec7p y\u1ebfu k\u00e9m v\u1edbi 43% c\u00f4ng ty v\u1ed1n h\u00f3a nh\u1ecf kh\u00f4ng \u0111\u00e1p \u1ee9ng ti\u00eau chu\u1ea9n minh b\u1ea1ch c\u1ee7a HOSE; 5) R\u1ee7i ro cao v\u1edbi 52 c\u1ed5 phi\u1ebfu m\u1ea5t h\u01a1n 50% gi\u00e1 tr\u1ecb trong n\u0103m 2023. Nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi n\u00ean b\u1eaft \u0111\u1ea7u v\u1edbi c\u1ed5 phi\u1ebfu blue-chip \u1ed5n \u0111\u1ecbnh ho\u1eb7c v\u1ed1n h\u00f3a trung b\u00ecnh tr\u01b0\u1edbc khi xem x\u00e9t c\u1ed5 phi\u1ebfu penny."},{"question":"S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng v\u00e0 c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam l\u00e0 g\u00ec?","answer":"Tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam, c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng v\u00e0 c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb kh\u00e1c bi\u1ec7t r\u00f5 r\u1ec7t qua 5 y\u1ebfu t\u1ed1 ch\u00ednh: 1) \u0110\u1ecbnh gi\u00e1: P\/E c\u1ee7a c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng cao (18-25) so v\u1edbi c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb th\u1ea5p (<8.5); 2) T\u0103ng tr\u01b0\u1edfng: c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng \u0111\u1ea1t 25-35%\/n\u0103m v\u1ec1 l\u1ee3i nhu\u1eadn so v\u1edbi 8-12% \u1ed5n \u0111\u1ecbnh c\u1ee7a c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb; 3) C\u1ed5 t\u1ee9c: c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng t\u00e1i \u0111\u1ea7u t\u01b0 75-90% l\u1ee3i nhu\u1eadn trong khi c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb tr\u1ea3 c\u1ed5 t\u1ee9c cao (>6%\/n\u0103m); 4) Bi\u1ebfn \u0111\u1ed9ng: Beta c\u1ee7a c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng th\u01b0\u1eddng >1.3 so v\u1edbi <0.9 c\u1ee7a c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb; 5) Hi\u1ec7u su\u1ea5t trong chu k\u1ef3 kinh t\u1ebf: c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng v\u01b0\u1ee3t tr\u1ed9i trong giai \u0111o\u1ea1n l\u00e3i su\u1ea5t th\u1ea5p (nh\u01b0 2020-2021: +48.7%) trong khi c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb m\u1ea1nh h\u01a1n khi l\u00e3i su\u1ea5t t\u0103ng (2022-2023: -8.5% so v\u1edbi -18.7% c\u1ee7a c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng)."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v27.2) - 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