{"id":2633,"date":"2025-10-13T13:19:05","date_gmt":"2025-10-13T06:19:05","guid":{"rendered":"https:\/\/ckvn.net\/chung-khoan\/?p=2633"},"modified":"2025-10-13T13:19:51","modified_gmt":"2025-10-13T06:19:51","slug":"j-p-morgan-du-bao-vn-index-len-2-200-diem-goi-ten-22-co-phieu-hut-tien-manh-khi-nang-hang","status":"publish","type":"post","link":"https:\/\/ckvn.net\/chung-khoan\/goc-nhin\/j-p-morgan-du-bao-vn-index-len-2-200-diem-goi-ten-22-co-phieu-hut-tien-manh-khi-nang-hang\/","title":{"rendered":"J.P. Morgan d\u1ef1 b\u00e1o VN-Index l\u00ean 2.200 \u0111i\u1ec3m, g\u1ecdi t\u00ean 22 c\u1ed5 phi\u1ebfu h\u00fat ti\u1ec1n m\u1ea1nh khi n\u00e2ng h\u1ea1ng"},"content":{"rendered":"
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J.P. Morgan n\u00e2ng m\u1ee5c ti\u00eau VN-Index trong 12 th\u00e1ng t\u1edbi l\u00ean m\u1ee9c 2.000 \u0111i\u1ec3m cho k\u1ecbch b\u1ea3n c\u01a1 s\u1edf v\u00e0 2.200 \u0111i\u1ec3m cho k\u1ecbch b\u1ea3n l\u1ea1c quan, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng m\u1ee9c t\u0103ng 20 \u2013 30% so v\u1edbi m\u1eb7t b\u1eb1ng hi\u1ec7n t\u1ea1i.<\/strong><\/p>\n\n\n\n

Sau khi FTSE Russell ch\u00ednh th\u1ee9c x\u00e1c nh\u1eadn n\u00e2ng h\u1ea1ng Vi\u1ec7t Nam t\u1eeb nh\u00f3m c\u1eadn bi\u00ean (Frontier Market) l\u00ean th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i th\u1ee9 c\u1ea5p (Secondary Emerging Market), J.P. Morgan \u2013 m\u1ed9t trong nh\u1eefng ng\u00e2n h\u00e0ng \u0111\u1ea7u t\u01b0 l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi \u0111\u00e3 c\u00f3 b\u00e1o c\u00e1o \u0111\u00e1nh gi\u00e1 t\u00edch c\u1ef1c \u0111\u1ed1i v\u1edbi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam.<\/p>\n\n\n\n

Theo k\u1ebf ho\u1ea1ch, vi\u1ec7c n\u00e2ng h\u1ea1ng s\u1ebd c\u00f3 hi\u1ec7u l\u1ef1c v\u00e0o th\u00e1ng 9\/2026, v\u1edbi m\u1ed9t k\u1ef3 \u0111\u00e1nh gi\u00e1 s\u01a1 b\u1ed9 v\u00e0o th\u00e1ng 3\/2026 \u0111\u1ec3 xem x\u00e9t m\u1ee9c \u0111\u1ed9 \u0111\u00e1p \u1ee9ng c\u1ee7a Vi\u1ec7t Nam \u0111\u1ed1i v\u1edbi c\u00e1c ti\u00eau ch\u00ed ti\u1ebfp c\u1eadn th\u1ecb tr\u01b0\u1eddng v\u00e0 c\u1ea3i c\u00e1ch h\u1ea1 t\u1ea7ng giao d\u1ecbch. B\u00e1o c\u00e1o c\u1ee7a J.P. Morgan cho r\u1eb1ng, quy\u1ebft \u0111\u1ecbnh n\u00e2ng h\u1ea1ng s\u1ebd m\u1edf ra l\u00e0n s\u00f3ng d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng \u0111\u00e1ng k\u1ec3 v\u00e0o Vi\u1ec7t Nam.<\/p>\n\n\n\n

Theo \u01b0\u1edbc t\u00ednh c\u1ee7a J.P. Morgan, c\u00e1c qu\u1ef9 ch\u1ec9 s\u1ed1 to\u00e0n c\u1ea7u c\u00f3 th\u1ec3 r\u00f3t kho\u1ea3ng 1,3 t\u1ef7 USD v\u00e0o th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng t\u1ef7 tr\u1ecdng 0,34% trong r\u1ed5 FTSE Emerging Market All Cap Index. D\u1ef1a tr\u00ean quy m\u00f4 v\u1ed1n h\u00f3a hi\u1ec7n t\u1ea1i, kho\u1ea3ng 22 c\u1ed5 phi\u1ebfu Vi\u1ec7t Nam c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c th\u00eam v\u00e0o danh m\u1ee5c ch\u1ec9 s\u1ed1 n\u00e0y.<\/p>\n\n\n

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Tr\u00ean c\u01a1 s\u1edf \u0111\u00f3, J.P. Morgan n\u00e2ng m\u1ee5c ti\u00eau VN-Index trong 12 th\u00e1ng t\u1edbi l\u00ean m\u1ee9c 2.000 \u0111i\u1ec3m cho k\u1ecbch b\u1ea3n c\u01a1 s\u1edf v\u00e0 2.200 \u0111i\u1ec3m cho k\u1ecbch b\u1ea3n l\u1ea1c quan, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng m\u1ee9c t\u0103ng 20 \u2013 30% so v\u1edbi m\u1eb7t b\u1eb1ng hi\u1ec7n t\u1ea1i. N\u1ec1n t\u1ea3ng v\u0129 m\u00f4 v\u1eefng ch\u1eafc v\u00e0 t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn doanh nghi\u1ec7p l\u00e0 hai y\u1ebfu t\u1ed1 then ch\u1ed1t h\u1ed7 tr\u1ee3 cho xu h\u01b0\u1edbng t\u00edch c\u1ef1c c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/p>\n\n\n\n

Theo J.P. Morgan, GDP qu\u00fd 3\/2025 c\u1ee7a Vi\u1ec7t Nam \u0111\u00e3 t\u0103ng 8,2% so v\u1edbi c\u00f9ng k\u1ef3, trong khi l\u1ee3i nhu\u1eadn c\u00e1c doanh nghi\u1ec7p ni\u00eam y\u1ebft \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o t\u0103ng b\u00ecnh qu\u00e2n 20% m\u1ed7i n\u0103m giai \u0111o\u1ea1n 2026 \u2013 2027. B\u00ean c\u1ea1nh \u0111\u00f3, n\u1ebfu qu\u00e1 tr\u00ecnh n\u00e2ng h\u1ea1ng theo ti\u00eau chu\u1ea9n MSCI di\u1ec5n ra thu\u1eadn l\u1ee3i, th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c h\u01b0\u1edfng th\u00eam kho\u1ea3ng 10% m\u1ee9c t\u0103ng t\u1eeb vi\u1ec7c \u0111\u1ecbnh gi\u00e1 l\u1ea1i h\u1ec7 s\u1ed1 P\/E.<\/p>\n\n\n\n

J.P. Morgan cho r\u1eb1ng m\u1ee9c \u0111\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a VN-Index v\u1eabn \u1edf v\u00f9ng h\u1ee3p l\u00fd. Ch\u1ec9 s\u1ed1 \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o giao d\u1ecbch v\u1edbi P\/E d\u1ef1 ph\u00f3ng 15 \u2013 16,5 l\u1ea7n trong 12 th\u00e1ng t\u1edbi, cao h\u01a1n trung b\u00ecnh ASEAN nh\u01b0ng v\u1eabn th\u1ea5p h\u01a1n hai giai \u0111o\u1ea1n \u0111\u1ec9nh l\u1ecbch s\u1eed n\u0103m 2018 v\u00e0 2021. \u0110i\u1ec1u n\u00e0y ph\u1ea3n \u00e1nh k\u1ef3 v\u1ecdng t\u0103ng tr\u01b0\u1edfng d\u00e0i h\u1ea1n c\u1ee7a n\u1ec1n kinh t\u1ebf v\u00e0 n\u0103ng l\u1ef1c sinh l\u1eddi ng\u00e0y c\u00e0ng c\u1ea3i thi\u1ec7n c\u1ee7a doanh nghi\u1ec7p Vi\u1ec7t Nam.<\/p>\n\n\n\n

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Ngo\u00e0i ra, b\u00e1o c\u00e1o c\u1ee7a J.P. Morgan c\u00f2n nh\u1ea5n m\u1ea1nh \u0111\u1ebfn vai tr\u00f2 c\u1ee7a c\u1ea3i c\u00e1ch th\u1ec3 ch\u1ebf v\u00e0 h\u1ea1 t\u1ea7ng th\u1ecb tr\u01b0\u1eddng trong vi\u1ec7c duy tr\u00ec \u0111\u00e0 t\u0103ng tr\u01b0\u1edfng. B\u1ed9 T\u00e0i ch\u00ednh Vi\u1ec7t Nam \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng s\u1ebd tri\u1ec3n khai m\u00f4 h\u00ecnh thanh to\u00e1n b\u00f9 tr\u1eeb trung t\u00e2m (CCP) v\u00e0o qu\u00fd 1\/2027, \u0111\u1ed3ng th\u1eddi m\u1edf r\u1ed9ng c\u00e1c s\u1ea3n ph\u1ea9m nh\u01b0 giao d\u1ecbch trong ng\u00e0y (intraday trading) v\u00e0 cho vay ch\u1ee9ng kho\u00e1n (stock lending).<\/p>\n\n\n\n

<\/a>\u201cNh\u1eefng c\u1ea3i c\u00e1ch n\u00e0y kh\u00f4ng ch\u1ec9 gi\u00fap Vi\u1ec7t Nam \u0111\u00e1p \u1ee9ng y\u00eau c\u1ea7u c\u1ee7a FTSE m\u00e0 c\u00f2n t\u1ea1o n\u1ec1n t\u1ea3ng cho m\u1ee5c ti\u00eau d\u00e0i h\u1ea1n l\u00e0 \u0111\u01b0\u1ee3c MSCI n\u00e2ng h\u1ea1ng l\u00ean nh\u00f3m th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i v\u00e0o n\u0103m 2030\u201d\u00a0<\/em>, b\u00e1o c\u00e1o c\u1ee7a J.P. Morgan nh\u1eadn \u0111\u1ecbnh.<\/p>\n\n\n\n

\u00c1p l\u1ef1c r\u00fat v\u1ed1n t\u1eeb ho\u1ea1t \u0111\u1ed9ng c\u01a1 c\u1ea5u c\u1ee7a qu\u1ef9 c\u1eadn bi\u00ean v\u00e0 c\u00e1c th\u01b0\u01a1ng v\u1ee5 t\u0103ng v\u1ed1n l\u1edbn<\/strong><\/p>\n\n\n\n

B\u00ean c\u1ea1nh \u0111\u00e1nh gi\u00e1 t\u00edch c\u1ef1c tri\u1ec3n v\u1ecdng c\u1ee7a ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, b\u00e1o c\u00e1o c\u1ee7a J.P. Morgan c\u0169ng ch\u1ec9 ra m\u1ed9t s\u1ed1 r\u1ee7i ro ng\u1eafn h\u1ea1n trong th\u1eddi gian t\u1edbi \u0111\u1ed1i v\u1edbi th\u1ecb tr\u01b0\u1eddng. Vi\u1ec7c c\u00e1c qu\u1ef9 c\u1eadn bi\u00ean c\u01a1 c\u1ea5u l\u1ea1i danh m\u1ee5c tr\u01b0\u1edbc khi Vi\u1ec7t Nam ch\u00ednh th\u1ee9c \u0111\u01b0\u1ee3c th\u00eam v\u00e0o r\u1ed5 th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i c\u00f3 th\u1ec3 g\u00e2y ra \u00e1p l\u1ef1c r\u00fat v\u1ed1n t\u1ea1m th\u1eddi.<\/p>\n\n\n\n

B\u00ean c\u1ea1nh \u0111\u00f3, \u0111\u1ed3ng Vi\u1ec7t Nam c\u00f3 th\u1ec3 ch\u1ecbu s\u1ee9c \u00e9p m\u1ea5t gi\u00e1 do ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 n\u1edbi l\u1ecfng, trong khi d\u01b0 n\u1ee3 cho vay k\u00fd qu\u1ef9 tr\u00ean th\u1ecb tr\u01b0\u1eddng hi\u1ec7n \u1edf m\u1ee9c cao, khi\u1ebfn th\u1ecb tr\u01b0\u1eddng tr\u1edf n\u00ean nh\u1ea1y c\u1ea3m h\u01a1n v\u1edbi c\u00e1c bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n.<\/p>\n\n\n

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Y\u1ebfu t\u1ed1 m\u00f9a v\u1ee5 y\u1ebfu trong qu\u00fd 4 c\u0169ng l\u00e0 m\u1ed9t r\u00e0o c\u1ea3n t\u1ea1m th\u1eddi \u0111\u1ed1i v\u1edbi d\u00f2ng ti\u1ec1n. Th\u00eam n\u1eefa, J.P. Morgan cho r\u1eb1ng c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n l\u1edbn nh\u01b0 TCBS, VPS, VPBankS hay MBS \u0111ang \u0111\u1ed3ng lo\u1ea1t t\u0103ng v\u1ed1n, c\u00f3 th\u1ec3 h\u00fat b\u1edbt thanh kho\u1ea3n kh\u1ecfi th\u1ecb tr\u01b0\u1eddng c\u01a1 s\u1edf.<\/p>\n\n\n\n

\u201cM\u1eb7c d\u00f9 vi\u1ec7c m\u1edf c\u1eeda th\u1ecb tr\u01b0\u1eddng cho c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi to\u00e0n c\u1ea7u s\u1ebd gi\u00fap t\u0103ng kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn v\u00e0 thu h\u00fat d\u00f2ng v\u1ed1n qu\u1ed1c t\u1ebf, song s\u1ef1 gia t\u0103ng c\u1ea1nh tranh c\u00f3 th\u1ec3 t\u1ea1o \u00e1p l\u1ef1c ng\u1eafn h\u1ea1n l\u00ean nh\u00f3m c\u00f4ng ty ch\u1ee9ng kho\u00e1n trong n\u01b0\u1edbc, \u0111\u1eb7c bi\u1ec7t khi c\u1ed5 phi\u1ebfu ng\u00e0nh n\u00e0y \u0111\u00e3 t\u0103ng kho\u1ea3ng 50% k\u1ec3 t\u1eeb \u0111\u1ea7u n\u0103m\u201d <\/em>, b\u00e1o c\u00e1o c\u1ee7a J.P. Morgan nh\u1ea5n m\u1ea1nh.<\/p>\n\n\n\n

Nh\u00ecn chung, J.P. Morgan \u0111\u00e1nh gi\u00e1 Vi\u1ec7t Nam \u0111ang \u1edf m\u1ed9t giai \u0111o\u1ea1n chuy\u1ec3n m\u00ecnh m\u1ea1nh m\u1ebd, khi c\u1ea3 n\u1ec1n kinh t\u1ebf v\u00e0 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111\u1ec1u h\u1ed9i t\u1ee5 \u0111\u1ee7 y\u1ebfu t\u1ed1 \u0111\u1ec3 b\u01b0\u1edbc l\u00ean n\u1ea5c thang ph\u00e1t tri\u1ec3n m\u1edbi. Vi\u1ec7c FTSE Russell x\u00e1c nh\u1eadn n\u00e2ng h\u1ea1ng Vi\u1ec7t Nam \u0111\u01b0\u1ee3c xem l\u00e0 t\u00edn hi\u1ec7u m\u1edf \u0111\u1ea7u cho chu k\u1ef3 t\u0103ng tr\u01b0\u1edfng m\u1edbi.<\/p>\n\n\n\n

\u201cM\u1ee5c ti\u00eau VN-Index 2.200 \u0111i\u1ec3m kh\u00f4ng c\u00f2n l\u00e0 \u0111i\u1ec1u xa v\u1eddi n\u1ebfu Vi\u1ec7t Nam ti\u1ebfp t\u1ee5c duy tr\u00ec t\u1ed1c \u0111\u1ed9 c\u1ea3i c\u00e1ch, \u1ed5n \u0111\u1ecbnh t\u1ef7 gi\u00e1 v\u00e0 c\u1ee7ng c\u1ed1 ni\u1ec1m tin c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 to\u00e0n c\u1ea7u\u201d\u00a0<\/em>, b\u00e1o c\u00e1o nh\u1eadn \u0111\u1ecbnh. T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn, c\u1ea3i c\u00e1ch th\u1ec3 ch\u1ebf v\u00e0 k\u1ef3 v\u1ecdng n\u00e2ng h\u1ea1ng s\u1ebd l\u00e0 ba tr\u1ee5 c\u1ed9t quan tr\u1ecdng th\u00fac \u0111\u1ea9y th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam trong trung v\u00e0 d\u00e0i h\u1ea1n.<\/p>\n\n\n\n

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Ngu\u00f4\u0300n: https:\/\/markettimes.vn\/j-p-morgan-du-bao-vn-index-len-2-200-diem-goi-ten-22-co-phieu-hut-tien-manh-khi-nang-hang-93664.html<\/p>\n","protected":false},"excerpt":{"rendered":"

J.P. Morgan d\u1ef1 b\u00e1o VN-Index c\u00f3 th\u1ec3 \u0111\u1ea1t 2.200 \u0111i\u1ec3m trong n\u0103m t\u1edbi, nh\u1ea5n m\u1ea1nh t\u00e1c \u0111\u1ed9ng t\u00edch c\u1ef1c t\u1eeb vi\u1ec7c FTSE Russell n\u00e2ng h\u1ea1ng Vi\u1ec7t Nam l\u00ean th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i th\u1ee9 c\u1ea5p. B\u00e1o c\u00e1o k\u1ef3 v\u1ecdng d\u00f2ng v\u1ed1n 1,3 t\u1ef7 USD s\u1ebd ch\u1ea3y v\u00e0o th\u1ecb tr\u01b0\u1eddng, v\u1edbi kho\u1ea3ng 22 c\u1ed5 phi\u1ebfu h\u01b0\u1edfng l\u1ee3i l\u1edbn.<\/p>\n","protected":false},"author":1,"featured_media":2634,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[177],"tags":[776,769,767,276,770,204,775,772,641,773,771,774,351,768],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/posts\/2633"}],"collection":[{"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/comments?post=2633"}],"version-history":[{"count":5,"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/posts\/2633\/revisions"}],"predecessor-version":[{"id":2645,"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/posts\/2633\/revisions\/2645"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/media\/2634"}],"wp:attachment":[{"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/media?parent=2633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/categories?post=2633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ckvn.net\/chung-khoan\/wp-json\/wp\/v2\/tags?post=2633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}