{"id":9248,"date":"2026-03-18T17:21:04","date_gmt":"2026-03-18T09:21:04","guid":{"rendered":"https:\/\/www.kpai1.cn\/?p=9248"},"modified":"2026-03-18T17:21:09","modified_gmt":"2026-03-18T09:21:09","slug":"%e4%b8%ad%e4%b8%9c%e5%86%b2%e7%aa%81%e6%8e%a3%e8%82%98%e6%97%a5%e9%93%b6%e6%94%bf%e7%ad%96-%ef%bc%8c%e6%97%a5%e5%85%83%e5%a5%97%e5%88%a9%e4%ba%a4%e6%98%93%e8%bf%8e%e7%bb%93%e6%9e%84%e6%80%a7%e6%9c%ba","status":"publish","type":"post","link":"https:\/\/www.kpai1.cn\/vi\/luu-tru\/9248","title":{"rendered":"Xung \u0111\u1ed9t \u1edf Trung \u0110\u00f4ng h\u1ea1n ch\u1ebf ch\u00ednh s\u00e1ch c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n v\u00e0 giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1 \u0111\u1ed3ng Y\u00ean Nh\u1eadt hoan ngh\u00eanh c\u00e1c c\u01a1 h\u1ed9i mang t\u00ednh c\u01a1 c\u1ea5u!"},"content":{"rendered":"

<\/p>\n\n\n

D\u1ef1a tr\u00ean nghi\u00ean c\u1ee9u chuy\u00ean s\u00e2u v\u00e0 \u0111\u00e1nh gi\u00e1 v\u1ec1 h\u1ec7 th\u1ed1ng gi\u00e1m s\u00e1t ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 to\u00e0n c\u1ea7u c\u1ee7a Wmax, m\u00f4 h\u00ecnh \u0111\u1ecbnh gi\u00e1 t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i \u0111\u1ed3ng Y\u00ean Nh\u1eadt v\u00e0 khung truy\u1ec1n d\u1eabn l\u1ea1m ph\u00e1t r\u1ee7i ro \u0111\u1ecba l\u00fd, k\u1ebft h\u1ee3p v\u1edbi d\u1eef li\u1ec7u v\u00e0 k\u1ebft lu\u1eadn nghi\u00ean c\u1ee9u m\u1edbi nh\u1ea5t t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c c\u00f3 th\u1ea9m quy\u1ec1n nh\u01b0 Vi\u1ec7n nghi\u00ean c\u1ee9u kinh t\u1ebf \u0111\u1eddi s\u1ed1ng Dai-ichi, Bloomberg, Macquarie v\u00e0 Citigroup, Wmax tin r\u1eb1ng Trung \u0110\u00f4ng Cu\u1ed9c xung \u0111\u1ed9t \u1edf Iran \u0111\u00e3 khi\u1ebfn gi\u00e1 d\u1ea7u t\u0103ng v\u1ecdt, \u0111i\u1ec1u n\u00e0y l\u00e0m tr\u1ea7m tr\u1ecdng th\u00eam \u0111\u00e1ng k\u1ec3 r\u1ee7i ro v\u1ec1 l\u1ea1m ph\u00e1t v\u00e0 n\u1ec1n kinh t\u1ebf Nh\u1eadt B\u1ea3n \u0111\u00ecnh tr\u1ec7, bu\u1ed9c Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Nh\u1eadt B\u1ea3n ph\u1ea3i gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t t\u1ea1i cu\u1ed9c h\u1ecdp ch\u00ednh s\u00e1ch tu\u1ea7n n\u00e0y, ph\u1ee7 b\u00f3ng \u0111en l\u00ean tri\u1ec3n v\u1ecdng t\u0103ng l\u00e3i su\u1ea5t trong th\u00e1ng 4. \u0110\u1ed3ng th\u1eddi, m\u00f4 h\u00ecnh y\u1ebfu k\u00e9m c\u1ee7a \u0111\u1ed3ng y\u00ean \u0111\u00e3 \u0111\u01b0\u1ee3c c\u1ee7ng c\u1ed1 v\u00e0 \u0111\u1ed3ng ti\u1ec1n c\u1ee7a c\u00e1c n\u01b0\u1edbc xu\u1ea5t kh\u1ea9u h\u00e0ng h\u00f3a \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i t\u1eeb gi\u00e1 d\u1ea7u t\u0103ng. Giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1 b\u1eb1ng \u0111\u1ed3ng y\u00ean \u0111\u00e3 \u0111i ng\u01b0\u1ee3c l\u1ea1i xu h\u01b0\u1edbng v\u00e0 tr\u1edf th\u00e0nh chi\u1ebfn l\u01b0\u1ee3c c\u1ed1t l\u00f5i tr\u00ean th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i to\u00e0n c\u1ea7u hi\u1ec7n nay. Wmax \u0111\u00e3 d\u1ef1 \u0111o\u00e1n ch\u00ednh x\u00e1c quy\u1ebft \u0111\u1ecbnh ho\u00e3n giao d\u1ecbch v\u00e0o th\u00e1ng 3 tr\u01b0\u1edbc m\u1ed9t tu\u1ea7n c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n v\u00e0 x\u00e1c minh t\u00ednh b\u1ec1n v\u1eefng c\u1ee7a giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1 th\u00f4ng qua m\u00f4 h\u00ecnh bi\u1ebfn \u0111\u1ed9ng ch\u00eanh l\u1ec7ch gi\u00e1, cung c\u1ea5p h\u01b0\u1edbng d\u1eabn h\u01b0\u1edbng t\u1edbi t\u01b0\u01a1ng lai cho th\u1ecb tr\u01b0\u1eddng.<\/p>\n

<\/a>1. Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n ti\u1ebfp t\u1ee5c tr\u00ec ho\u00e3n cu\u1ed9c h\u1ecdp th\u00e1ng 3 v\u1edbi nh\u1eefng nghi ng\u1edd v\u1ec1 tri\u1ec3n v\u1ecdng t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 4.<\/strong><\/p>\n

Wmax D\u1ef1a tr\u00ean x\u00e1c minh ch\u00e9o v\u1ec1 k\u1ef3 v\u1ecdng nh\u1ea5t tr\u00ed c\u1ee7a 51 nh\u00e0 quan s\u00e1t c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n, Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n s\u1ebd duy tr\u00ec l\u00e3i su\u1ea5t chu\u1ea9n \u1edf m\u1ee9c 0,75% t\u1ea1i cu\u1ed9c h\u1ecdp ch\u00ednh s\u00e1ch k\u00e9o d\u00e0i hai ng\u00e0y k\u1ebft th\u00fac v\u00e0o th\u1ee9 N\u0103m. Sau khi ngh\u1ecb quy\u1ebft \u0111\u01b0\u1ee3c c\u00f4ng b\u1ed1, Th\u1ed1ng \u0111\u1ed1c Kazuo Ueda s\u1ebd t\u1ed5 ch\u1ee9c h\u1ecdp b\u00e1o \u0111\u1ec3 \u0111\u01b0a ra nh\u1eefng t\u00edn hi\u1ec7u ch\u00ednh s\u00e1ch ti\u1ebfp theo. Tr\u1ecdng t\u00e2m c\u1ed1t l\u00f5i c\u1ee7a cu\u1ed9c h\u1ecdp n\u00e0y l\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a c\u00e1c cu\u1ed9c xung \u0111\u1ed9t \u1edf Trung \u0110\u00f4ng \u0111\u1ed1i v\u1edbi ch\u00ednh s\u00e1ch. C\u00e1c nh\u00e0 giao d\u1ecbch th\u1ecb tr\u01b0\u1eddng \u0111\u1ecbnh gi\u00e1 kh\u1ea3 n\u0103ng t\u0103ng l\u00e3i su\u1ea5t trong th\u00e1ng 4 l\u00e0 kho\u1ea3ng 60%. N\u1ebfu tuy\u00ean b\u1ed1 c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng t\u0103ng c\u01b0\u1eddng ng\u00f4n ng\u1eef \u00f4n h\u00f2a nh\u01b0 \"s\u1ef1 b\u1ea5t \u1ed5n gia t\u0103ng\", kh\u1ea3 n\u0103ng t\u0103ng l\u00e3i su\u1ea5t trong th\u00e1ng 4 s\u1ebd h\u1ea1 nhi\u1ec7t \u0111\u00e1ng k\u1ec3.<\/p>\n

\"IMG_256\"<\/p>\n

C\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n \u0111ang theo d\u00f5i ch\u1eb7t ch\u1ebd t\u00ecnh h\u00ecnh \u1edf Trung \u0110\u00f4ng v\u00e0 ti\u1ebfn h\u00e0nh c\u00e1c b\u00e0i ki\u1ec3m tra s\u1ee9c ch\u1ecbu \u0111\u1ef1ng \u0111\u1ed1i v\u1edbi nhi\u1ec1u k\u1ecbch b\u1ea3n kinh t\u1ebf. Hideo Kumano, nh\u00e0 kinh t\u1ebf \u0111i\u1ec1u h\u00e0nh t\u1ea1i Vi\u1ec7n nghi\u00ean c\u1ee9u kinh t\u1ebf cu\u1ed9c s\u1ed1ng Dai-ichi, \u0111\u1ed3ng \u00fd v\u1edbi Wmax r\u1eb1ng ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u00f3 th\u1ec3 s\u1ebd s\u1eed d\u1ee5ng nh\u1eefng tuy\u00ean b\u1ed1 m\u01a1 h\u1ed3 \u0111\u1ec3 ch\u1ec9 ra r\u1ee7i ro, nh\u01b0ng v\u1eabn ch\u01b0a t\u1eeb b\u1ecf k\u1ebf ho\u1ea1ch t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 4. L\u00e0 n\u1ec1n kinh t\u1ebf ph\u1ee5 thu\u1ed9c h\u01a1n 90% v\u00e0o d\u1ea7u th\u00f4 n\u01b0\u1edbc ngo\u00e0i v\u00e0 ph\u1ee5 thu\u1ed9c nhi\u1ec1u v\u00e0o ngu\u1ed3n cung t\u1eeb Trung \u0110\u00f4ng, vi\u1ec7c c\u1ea3n tr\u1edf giao th\u00f4ng \u1edf eo bi\u1ec3n Hormuz \u0111\u00e3 tr\u1ef1c ti\u1ebfp \u0111\u1ea9y chi ph\u00ed nh\u1eadp kh\u1ea9u n\u0103ng l\u01b0\u1ee3ng c\u1ee7a Nh\u1eadt B\u1ea3n l\u00ean cao. C\u00f9ng v\u1edbi vi\u1ec7c \u0111\u1ed3ng y\u00ean ti\u1ebfp t\u1ee5c y\u1ebfu \u0111i, l\u1ea1m ph\u00e1t c\u1ee7a Nh\u1eadt B\u1ea3n \u0111\u00e3 v\u01b0\u1ee3t m\u1ee5c ti\u00eau 2% trong 4 n\u0103m li\u00ean ti\u1ebfp. Gi\u00e1 d\u1ea7u cao \u0111ang khi\u1ebfn m\u1ee5c ti\u00eau \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ea1m ph\u00e1t b\u1ec1n v\u1eefng c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng ng\u00e0y c\u00e0ng tr\u1edf n\u00ean ph\u1ee9c t\u1ea1p v\u00e0 c\u00e1c quy\u1ebft \u0111\u1ecbnh ch\u00ednh s\u00e1ch r\u01a1i v\u00e0o t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan.<\/p>\n

<\/a>2. Nh\u1eefng kh\u00e1c bi\u1ec7t n\u1ed9i b\u1ed9 \u0111\u00e3 xu\u1ea5t hi\u1ec7n v\u00e0 nh\u1ecbp \u0111i\u1ec7u ch\u00ednh s\u00e1ch ph\u1ea3i ch\u1ecbu nh\u1eefng r\u00e0ng bu\u1ed9c v\u1ec1 c\u1ea3 ch\u00ednh tr\u1ecb v\u00e0 ti\u1ec1n l\u01b0\u01a1ng.<\/strong><\/p>\n

Wmax \u0111\u00e3 ph\u00e2n t\u00edch d\u1eef li\u1ec7u b\u1ecf phi\u1ebfu l\u1ecbch s\u1eed c\u1ee7a \u1ee7y ban ch\u00ednh s\u00e1ch c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Nh\u1eadt B\u1ea3n v\u00e0 nh\u1eadn th\u1ea5y r\u1eb1ng s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa phe di\u1ec1u h\u00e2u v\u00e0 phe b\u1ed3 c\u00e2u trong \u1ee7y ban \u0111ang g\u1eedi t\u00edn hi\u1ec7u v\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t. V\u00e0o th\u00e1ng 1 n\u0103m nay, th\u00e0nh vi\u00ean Takada \u0111\u00e3 \u1ee7ng h\u1ed9 m\u1ed9t c\u00e1ch s\u00e1ng t\u1ea1o vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t, trong khi Naoki Tamura c\u0169ng li\u00ean t\u1ee5c b\u1ecf phi\u1ebfu ph\u1ea3n \u0111\u1ed1i, ph\u00e1 v\u1ee1 khu\u00f4n m\u1eabu duy tr\u00ec s\u1ef1 \u1ed5n \u0111\u1ecbnh nh\u1ea5t tr\u00ed. S\u1ef1 x\u00edch m\u00edch n\u1ed9i b\u1ed9 n\u00e0y \u0111\u00e3 g\u1eedi t\u00edn hi\u1ec7u t\u1edbi th\u1ecb tr\u01b0\u1eddng r\u1eb1ng kh\u1ea3 n\u0103ng t\u0103ng l\u00e3i su\u1ea5t trong nh\u1eefng th\u00e1ng t\u1edbi s\u1ebd t\u0103ng l\u00ean.<\/p>\n

\u0110\u1ed3ng th\u1eddi, \u0111\u1ecbnh h\u01b0\u1edbng ch\u00ednh s\u00e1ch c\u1ee7a Nh\u1eadt B\u1ea3n \u0111\u01b0\u1ee3c \u0111\u1ecbnh h\u01b0\u1edbng b\u1edfi c\u1ea5p \u0111\u1ed9 ch\u00ednh tr\u1ecb. Th\u1ee7 t\u01b0\u1edbng Takaichi Sanae \u0111\u00e3 \u0111\u1ec1 c\u1eed hai h\u1ecdc gi\u1ea3 \u1ee7ng h\u1ed9 vi\u1ec7c k\u00edch th\u00edch l\u1ea1m ph\u00e1t tham gia \u1ee7y ban ch\u00ednh s\u00e1ch. 81% c\u00e1c nh\u00e0 kinh t\u1ebf \u0111\u01b0\u1ee3c kh\u1ea3o s\u00e1t tin r\u1eb1ng \u0111i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 ch\u00ednh ph\u1ee7 mu\u1ed1n t\u0103ng l\u00e3i su\u1ea5t d\u1ea7n d\u1ea7n. Ph\u1ea3n \u1ee9ng c\u1ee7a Ueda Kazuo v\u1ec1 v\u1ea5n \u0111\u1ec1 n\u00e0y t\u1ea1i cu\u1ed9c h\u1ecdp b\u00e1o s\u1ebd tr\u1edf th\u00e0nh \u0111i\u1ec3m quan s\u00e1t quan tr\u1ecdng. Ngo\u00e0i ra, k\u1ebft qu\u1ea3 \u0111\u00e0m ph\u00e1n l\u01b0\u01a1ng lao \u0111\u1ed9ng m\u00f9a xu\u00e2n v\u00e0o tu\u1ea7n t\u1edbi s\u1ebd l\u00e0 \u0111i\u1ec3m c\u00e2n nh\u1eafc c\u1ed1t l\u00f5i c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng. Th\u1ecb tr\u01b0\u1eddng k\u1ef3 v\u1ecdng m\u1ee9c t\u0103ng l\u01b0\u01a1ng s\u1ebd h\u01a1i y\u1ebfu nh\u01b0ng kh\u00f4ng thay \u0111\u1ed5i so v\u1edbi m\u1ee9c cao n\u0103m ngo\u00e1i. D\u1eef li\u1ec7u n\u00e0y s\u1ebd \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn c\u00e1c quy\u1ebft \u0111\u1ecbnh ch\u00ednh s\u00e1ch trong th\u00e1ng 4. Wmax \u0111\u00e3 nh\u1eafc nh\u1edf r\u1eb1ng th\u00f3i quen tr\u00ecnh b\u00e0y \u00f4n h\u00f2a c\u1ee7a Kazuo Ueda trong c\u00e1c cu\u1ed9c h\u1ecdp b\u00e1o tr\u01b0\u1edbc \u0111\u00e2y r\u1ea5t c\u00f3 th\u1ec3 s\u1ebd khi\u1ebfn \u0111\u1ed3ng y\u00ean suy y\u1ebfu trong ng\u1eafn h\u1ea1n m\u1ed9t l\u1ea7n n\u1eefa.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260318_153149\"<\/p>\n

<\/a>3. Nguy c\u01a1 l\u1ea1m ph\u00e1t \u0111\u00ecnh tr\u1ec7 \u0111\u00e3 gia t\u0103ng v\u00e0 \u0111\u1ed3ng y\u00ean Nh\u1eadt \u0111\u00e3 tr\u1edf th\u00e0nh \u0111\u1ed3ng ti\u1ec1n t\u00e0i tr\u1ee3 c\u1ed1t l\u00f5i cho ho\u1ea1t \u0111\u1ed9ng kinh doanh ch\u00eanh l\u1ec7ch gi\u00e1 to\u00e0n c\u1ea7u.<\/strong><\/p>\n

Nh\u00f3m chi\u1ebfn l\u01b0\u1ee3c t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i Wmax theo d\u00f5i r\u1eb1ng xung \u0111\u1ed9t \u1edf Iran \u0111\u00e3 \u0111\u1ea9y gi\u00e1 d\u1ea7u l\u00ean cao v\u00e0 \u0111ang \u0111\u1ea9y n\u1ec1n kinh t\u1ebf Nh\u1eadt B\u1ea3n \u0111\u1ebfn b\u1edd v\u1ef1c l\u1ea1m ph\u00e1t (kinh t\u1ebf y\u1ebfu + l\u1ea1m ph\u00e1t cao). Tuy nhi\u00ean, Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n v\u1eabn duy tr\u00ec quan \u0111i\u1ec3m ch\u00ednh s\u00e1ch l\u1ecfng l\u1ebbo v\u00e0 c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1edbn tr\u00ean th\u1ebf gi\u1edbi v\u1eabn \u0111ang trong chu k\u1ef3 l\u00e3i su\u1ea5t cao, ti\u1ebfp t\u1ee5c \u0111\u00e0n \u00e1p \u0111\u1ed3ng y\u00ean Nh\u1eadt, khi\u1ebfn \u0111\u1ed3ng y\u00ean n\u00e0y m\u1ea5t ho\u00e0n to\u00e0n \u0111\u1eb7c t\u00ednh ph\u00f2ng ng\u1eeba r\u1ee7i ro truy\u1ec1n th\u1ed1ng v\u00e0 tr\u1edf th\u00e0nh lo\u1ea1i ti\u1ec1n t\u00e0i tr\u1ee3 ph\u1ed5 bi\u1ebfn nh\u1ea5t cho c\u00e1c giao d\u1ecbch bu\u00f4n b\u00e1n to\u00e0n c\u1ea7u.<\/p>\n

Trong th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i to\u00e0n c\u1ea7u hi\u1ec7n nay v\u1edbi doanh thu h\u00e0ng ng\u00e0y l\u00e0 9,5 ngh\u00ecn t\u1ef7 USD, giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1 b\u1eb1ng \u0111\u1ed3ng y\u00ean Nh\u1eadt (vay \u0111\u1ed3ng y\u00ean Nh\u1eadt l\u00e3i su\u1ea5t th\u1ea5p v\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o \u0111\u1ed3ng ti\u1ec1n c\u1ee7a c\u00e1c qu\u1ed1c gia c\u00f3 l\u00e3i su\u1ea5t cao\/\u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i n\u0103ng l\u01b0\u1ee3ng) \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn t\u1ed1t nh\u1ea5t trong ba n\u0103m. D\u1eef li\u1ec7u c\u1ee7a Bloomberg cho th\u1ea5y chi\u1ebfn l\u01b0\u1ee3c vay \u0111\u1ed3ng y\u00ean Nh\u1eadt v\u00e0 mua m\u1ed9t r\u1ed5 ti\u1ec1n t\u1ec7 nh\u01b0 real Brazil, peso Colombia v\u00e0 lira c\u1ee7a Th\u1ed5 Nh\u0129 K\u1ef3 \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn h\u01a1n 2% k\u1ec3 t\u1eeb khi xung \u0111\u1ed9t b\u00f9ng n\u1ed5 v\u00e0 l\u1ee3i nhu\u1eadn h\u01a1n 6% trong n\u0103m, kh\u1edfi \u0111\u1ea7u m\u1ea1nh nh\u1ea5t k\u1ec3 t\u1eeb n\u0103m 2023. Wmax x\u00e1c minh r\u1eb1ng logic c\u1ed1t l\u00f5i \u0111\u1eb1ng sau s\u1ee9c m\u1ea1nh c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c n\u00e0y l\u00e0: gi\u00e1 d\u1ea7u cao c\u00f3 l\u1ee3i cho n\u1ec1n kinh t\u1ebf v\u00e0 ti\u1ec1n t\u1ec7 c\u1ee7a c\u00e1c n\u01b0\u1edbc xu\u1ea5t kh\u1ea9u n\u0103ng l\u01b0\u1ee3ng, \u0111\u1ed3ng th\u1eddi l\u00e3i su\u1ea5t cao c\u1ee7a h\u1ecd b\u00f9 \u0111\u1eafp cho nh\u1eefng bi\u1ebfn \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng, trong khi \u0111\u00f3 L\u00e3i su\u1ea5t th\u1ea5p c\u1ee7a Nh\u1eadt B\u1ea3n v\u00e0 \u0111\u1ed3ng Y\u00ean y\u1ebfu mang l\u1ea1i ngu\u1ed3n t\u00e0i ch\u00ednh v\u1edbi chi ph\u00ed th\u1ea5p.<\/p>\n

<\/a>4. Logic h\u1ed7 tr\u1ee3 v\u00e0 r\u1ee7i ro ti\u1ec1m \u1ea9n c\u1ee7a giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1<\/strong><\/p>\n

Wmax k\u1ebft h\u1ee3p v\u1edbi Macquarie, Lord Quan \u0111i\u1ec3m c\u1ed1t l\u00f5i c\u1ee7a c\u00e1c t\u1ed5 ch\u1ee9c ch\u00ednh th\u1ed1ng nh\u01b0 Abbett \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e2n t\u00edch v\u00e0 \u0111\u00e1nh gi\u00e1 s\u00e2u s\u1eafc. V\u00f2ng t\u0103ng c\u01b0\u1eddng giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1 b\u1eb1ng \u0111\u1ed3ng y\u00ean n\u00e0y c\u00f3 nhi\u1ec1u logic h\u1ed7 tr\u1ee3 v\u1eefng ch\u1eafc v\u00e0 kh\u00f4ng b\u1ecb th\u00fac \u0111\u1ea9y b\u1edfi t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng ng\u1eafn h\u1ea1n: Brazil v\u00e0 c\u00e1c n\u01b0\u1edbc xu\u1ea5t kh\u1ea9u n\u0103ng l\u01b0\u1ee3ng M\u1ef9 Latinh kh\u00e1c \u0111\u00e3 t\u1eadn d\u1ee5ng l\u1ee3i th\u1ebf c\u1ee7a vi\u1ec7c s\u1ea3n l\u01b0\u1ee3ng d\u1ea7u th\u00f4 t\u0103ng l\u00ean v\u00e0 \u00e1p d\u1ee5ng l\u1ee3i th\u1ebf c\u1ee7a l\u00e3i su\u1ea5t chu\u1ea9n cao 15% \u0111\u1ec3 tr\u1edf th\u00e0nh m\u1ee5c ti\u00eau ph\u00e2n b\u1ed5 c\u1ed1t l\u00f5i c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c ch\u00eanh l\u1ec7ch gi\u00e1; B\u1ea3n th\u00e2n \u0111\u1ed3ng ti\u1ec1n th\u1ecb tr\u01b0\u1eddng c\u00f3 l\u1ee3i th\u1ebf v\u1ec1 c\u01a1 c\u1ea5u l\u00e0 t\u0103ng tr\u01b0\u1edfng cao v\u00e0 ch\u00eanh l\u1ec7ch l\u00e3i su\u1ea5t cao. C\u00f9ng v\u1edbi nh\u1eefng l\u1ee3i \u00edch b\u00ean ngo\u00e0i t\u1eeb s\u1ef1 suy y\u1ebfu \u0111\u1ecbnh k\u1ef3 c\u1ee7a \u0111\u1ed3ng \u0111\u00f4 la M\u1ef9, n\u00f3 ti\u1ebfp t\u1ee5c nh\u1eadn \u0111\u01b0\u1ee3c s\u1ef1 h\u1ed7 tr\u1ee3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng. C\u00f9ng v\u1edbi th\u1ef1c t\u1ebf l\u00e0 c\u00e1c c\u00f4ng ty n\u1ed9i \u0111\u1ecba Nh\u1eadt B\u1ea3n ch\u01b0a c\u00f3 d\u1ea5u hi\u1ec7u thu h\u1ed3i v\u1ed1n \u1edf n\u01b0\u1edbc ngo\u00e0i tr\u00ean quy m\u00f4 l\u1edbn, m\u00f4 h\u00ecnh chung y\u1ebfu c\u1ee7a \u0111\u1ed3ng y\u00ean v\u1eabn ti\u1ebfp t\u1ee5c c\u1ee7ng c\u1ed1 th\u00eam n\u1ec1n t\u1ea3ng t\u00e0i ch\u00ednh chi ph\u00ed th\u1ea5p cho c\u00e1c giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1.<\/p>\n

\"IMG_257\"<\/p>\n

\u0110\u1ed3ng th\u1eddi, Wmax k\u1ebft h\u1ee3p v\u1edbi xu h\u01b0\u1edbng c\u1ee7a c\u00e1c t\u1ed5 ch\u1ee9c tuy\u1ebfn \u0111\u1ea7u tr\u00ean th\u1ecb tr\u01b0\u1eddng, nh\u1eafc nh\u1edf r\u00f5 r\u00e0ng r\u1eb1ng c\u00f3 hai r\u1ee7i ro c\u1ed1t l\u00f5i ti\u1ec1m \u1ea9n trong v\u00f2ng giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1 n\u00e0y v\u00e0 \u0111\u01b0a ra c\u1ea3nh b\u00e1o r\u1ee7i ro cho nh\u1eefng ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng: M\u1ed9t khi xung \u0111\u1ed9t \u1edf Trung \u0110\u00f4ng leo thang ngo\u00e0i mong \u0111\u1ee3i v\u00e0 g\u00e2y ra \u00e1c c\u1ea3m r\u1ee7i ro to\u00e0n c\u1ea7u quy m\u00f4 l\u1edbn, \u0111\u1ed3ng y\u00ean Nh\u1eadt c\u00f3 th\u1ec3 s\u1ebd t\u0103ng gi\u00e1 m\u1ea1nh, \u0111i\u1ec1u n\u00e0y s\u1ebd tr\u1ef1c ti\u1ebfp v\u00e0 nhanh ch\u00f3ng x\u00f3a s\u1ea1ch to\u00e0n b\u1ed9 giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1. D\u1ef1 b\u00e1o r\u1ee7i ro n\u00e0y c\u0169ng ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p v\u1edbi quan \u0111i\u1ec3m c\u1ed1t l\u00f5i c\u1ee7a Equiti Group; Ngo\u00e0i ra, trong b\u1ed1i c\u1ea3nh t\u00ecnh h\u00ecnh \u0111\u1ecba ch\u00ednh tr\u1ecb r\u1ea5t b\u1ea5t \u1ed5n v\u00e0 bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng ng\u00e0y c\u00e0ng gia t\u0103ng, Citigroup \u0111\u00e3 \u0111i \u0111\u1ea7u trong vi\u1ec7c \u0111\u00f3ng c\u00e1c v\u1ecb th\u1ebf ch\u00eanh l\u1ec7ch gi\u00e1 li\u00ean quan \u0111\u1ebfn c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i, \u0111i\u1ec1u n\u00e0y \u0111\u1ee7 cho th\u1ea5y r\u1eb1ng th\u1eddi gian c\u1ee7a cu\u1ed9c chi\u1ebfn l\u00e0 bi\u1ebfn s\u1ed1 c\u1ed1t l\u00f5i quy\u1ebft \u0111\u1ecbnh li\u1ec7u v\u00f2ng giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1 n\u00e0y c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c ph\u00e1t tri\u1ec3n hay kh\u00f4ng v\u00e0 n\u00f3 c\u1ea7n ph\u1ea3i \u0111\u01b0\u1ee3c theo d\u00f5i ch\u1eb7t ch\u1ebd.<\/p>\n

<\/a>Wmax nghi\u00ean c\u1ee9u v\u00e0 \u0111\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n<\/strong><\/p>\n

Nh\u00ecn chung, ph\u00e2n t\u00edch to\u00e0n di\u1ec7n c\u1ee7a Wmax tin r\u1eb1ng Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n s\u1ebd ti\u1ebfp t\u1ee5c tr\u00ec ho\u00e3n trong th\u00e1ng 3 v\u00e0 li\u1ec7u ng\u00e2n h\u00e0ng n\u00e0y c\u00f3 th\u1ec3 t\u0103ng l\u00e3i su\u1ea5t trong th\u00e1ng 4 hay kh\u00f4ng ph\u1ee5 thu\u1ed9c v\u00e0o di\u1ec5n bi\u1ebfn t\u00ecnh h\u00ecnh \u1edf Trung \u0110\u00f4ng, k\u1ebft qu\u1ea3 c\u1ee7a c\u00e1c cu\u1ed9c \u0111\u00e0m ph\u00e1n ti\u1ec1n l\u01b0\u01a1ng m\u00f9a xu\u00e2n v\u00e0 \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t \u0111\u00ecnh tr\u1ec7 trong n\u01b0\u1edbc; \u0111\u1ed3ng y\u00ean s\u1ebd v\u1eabn y\u1ebfu trong ng\u1eafn h\u1ea1n v\u00e0 v\u1eabn c\u00f3 nh\u1eefng c\u01a1 h\u1ed9i mang t\u00ednh c\u01a1 c\u1ea5u cho c\u00e1c giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1 b\u1eb1ng \u0111\u1ed3ng y\u00ean, nh\u01b0ng c\u1ea7n c\u1ea3nh gi\u00e1c v\u1edbi r\u1ee7i ro tho\u00e1i lui do xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb leo thang, \u0111\u1ed9ng th\u00e1i di\u1ec1u h\u00e2u b\u1ea5t ng\u1edd c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n v\u00e0 s\u1ef1 can thi\u1ec7p v\u00e0o t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i. \u0110\u1ed1i v\u1edbi nh\u1eefng ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng, Wmax \u0111\u00e3 x\u00e1c \u0111\u1ecbnh ba d\u00f2ng gi\u00e1m s\u00e1t ch\u00ednh: c\u00e1c tuy\u00ean b\u1ed1 v\u00e0 cu\u1ed9c h\u1ecdp b\u00e1o v\u1ec1 ch\u00ednh s\u00e1ch c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n, xu h\u01b0\u1edbng gi\u00e1 d\u1ea7u \u1edf Trung \u0110\u00f4ng v\u00e0 d\u1eef li\u1ec7u ti\u1ec1n l\u01b0\u01a1ng m\u00f9a xu\u00e2n. Ba bi\u1ebfn s\u1ed1 ch\u00ednh n\u00e0y s\u1ebd c\u00f9ng nhau x\u00e1c \u0111\u1ecbnh h\u01b0\u1edbng \u0111i ti\u1ebfp theo c\u1ee7a t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i \u0111\u1ed3ng y\u00ean Nh\u1eadt v\u00e0 giao d\u1ecbch ch\u00eanh l\u1ec7ch gi\u00e1.<\/p>\n\n\n

<\/p>","protected":false},"excerpt":{"rendered":"

Xung \u0111\u1ed9t \u1edf Trung \u0110\u00f4ng \u0111\u1ea9y gi\u00e1 d\u1ea7u t\u0103ng cao. Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t \u1edf m\u1ee9c 0,75% trong th\u00e1ng 3, g\u00e2y nghi ng\u1edd v\u1ec1 tri\u1ec3n v\u1ecdng t\u0103ng l\u00e3i su\u1ea5t trong th\u00e1ng 4. Nguy c\u01a1 l\u1ea1m ph\u00e1t \u0111\u00ecnh tr\u1ec7 \u1edf Nh\u1eadt B\u1ea3n \u0111\u00e3 gia t\u0103ng v\u00e0 \u0111\u1ed3ng Y\u00ean Nh\u1eadt \u0111\u00e3 tr\u1edf th\u00e0nh \u0111\u1ed3ng ti\u1ec1n t\u00e0i tr\u1ee3 c\u1ed1t l\u00f5i cho ho\u1ea1t \u0111\u1ed9ng kinh doanh ch\u00eanh l\u1ec7ch gi\u00e1 to\u00e0n c\u1ea7u. Chi\u1ebfn l\u01b0\u1ee3c vay \u0111\u1ed3ng y\u00ean Nh\u1eadt \u0111\u1ec3 mua \u0111\u1ed3ng ti\u1ec1n c\u1ee7a c\u00e1c n\u01b0\u1edbc xu\u1ea5t kh\u1ea9u n\u0103ng l\u01b0\u1ee3ng \u0111\u00e3 mang l\u1ea1i l\u1ee3i nhu\u1eadn h\u01a1n 6% trong n\u0103m. Ch\u00fang ta c\u1ea7n c\u1ea3nh gi\u00e1c v\u1edbi nguy c\u01a1 \u0111\u1ed3ng y\u00ean t\u0103ng gi\u00e1 m\u1ea1nh do xung \u0111\u1ed9t leo thang v\u00e0 ch\u00fa \u00fd \u0111\u1ebfn ba bi\u1ebfn s\u1ed1 ch\u00ednh trong l\u1eddi h\u00f9ng bi\u1ec7n c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, gi\u00e1 d\u1ea7u v\u00e0 ti\u1ec1n l\u01b0\u01a1ng.<\/p>","protected":false},"author":1,"featured_media":9249,"comment_status":"open","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":[121],"tags":[740,739,738],"class_list":["post-9248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-740","tag-739","tag-738"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/comments?post=9248"}],"version-history":[{"count":1,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9248\/revisions"}],"predecessor-version":[{"id":9253,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9248\/revisions\/9253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media\/9249"}],"wp:attachment":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media?parent=9248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/categories?post=9248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/tags?post=9248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}