![\"\"](\"https:\/\/www.phfm.vn\/wp-content\/uploads\/vn-2-2.png\")
<\/p>\nNg\u00e0y 16\/10\/2026, ch\u1ec9 s\u1ed1 JCI c\u1ee7a Indonesia gi\u1ea3m 11,6% ch\u1ec9 trong m\u1ed9t phi\u00ean, m\u1ee9c gi\u1ea3m trong ng\u00e0y m\u1ea1nh nh\u1ea5t trong 28 n\u0103m. C\u00fa s\u1ed1c n\u00e0y x\u1ea3y ra sau khi MSCI m\u1edf tham v\u1ea5n v\u1ec1 vi\u1ec7c chuy\u1ec3n th\u1ecb tr\u01b0\u1eddng n\u00e0y ra kh\u1ecfi nh\u00f3m th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i sang nh\u00f3m th\u1ecb tr\u01b0\u1eddng \u0111\u1ed9c l\u1eadp. \u0110i\u1ec1u \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 l\u00fd do c\u1ee7a MSCI \u00edt li\u00ean quan \u0111\u1ebfn t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf. \u0110\u01a1n v\u1ecb l\u1eadp ch\u1ec9 s\u1ed1 cho r\u1eb1ng nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng c\u00f2n x\u00e1c \u0111\u1ecbnh \u0111\u01b0\u1ee3c ai \u0111ang th\u1ef1c s\u1ef1 n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu, c\u0169ng nh\u01b0 kh\u00f4ng ch\u1eafc gi\u00e1 tr\u00ean b\u1ea3ng \u0111i\u1ec7n c\u00f3 ph\u1ea3n \u00e1nh \u0111\u00fang cung c\u1ea7u hay kh\u00f4ng. Vi\u1ec7t Nam c\u0169ng mang m\u1ed9t s\u1ed1 \u0111i\u1ec3m y\u1ebfu c\u1ea5u tr\u00fac t\u01b0\u01a1ng t\u1ef1.<\/p>\n
S\u1ef1 ch\u1eb7t ch\u1ebd trong c\u00e1ch MSCI ph\u00e2n h\u1ea1ng th\u1ecb tr\u01b0\u1eddng<\/strong><\/h3>\nNg\u00e0y 15\/10\/2026, MSCI m\u1edf tham v\u1ea5n v\u1ec1 vi\u1ec7c chuy\u1ec3n Indonesia t\u1eeb nh\u00f3m th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i sang nh\u00f3m th\u1ecb tr\u01b0\u1eddng \u0111\u1ed9c l\u1eadp. Khi \u0111\u00f3 Indonesia s\u1ebd kh\u00f4ng c\u00f2n n\u1eb1m trong c\u00e1c ch\u1ec9 s\u1ed1 khu v\u1ef1c v\u00e0 to\u00e0n c\u1ea7u m\u00e0 ph\u1ea7n l\u1edbn d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng \u0111ang b\u00e1m theo. N\u1ebfu \u0111\u1ec1 xu\u1ea5t \u0111\u01b0\u1ee3c th\u00f4ng qua, c\u00e1c qu\u1ef9 m\u00f4 ph\u1ecfng ch\u1ec9 s\u1ed1 MSCI Emerging Markets s\u1ebd ph\u1ea3i b\u00e1n to\u00e0n b\u1ed9 c\u1ed5 phi\u1ebfu Indonesia \u0111ang n\u1eafm gi\u1eef. Di\u1ec5n bi\u1ebfn c\u1ee7a JCI t\u1eeb \u0111\u1ea7u n\u0103m cho th\u1ea5y nh\u1eefng c\u1ea3nh b\u00e1o c\u1ee7a MSCI \u0111\u00e3 \u0111\u00e8 n\u1eb7ng l\u00ean th\u1ecb tr\u01b0\u1eddng t\u1eeb r\u1ea5t s\u1edbm, tr\u01b0\u1edbc c\u1ea3 khi c\u00f3 quy\u1ebft \u0111\u1ecbnh ch\u00ednh th\u1ee9c.<\/p>\n![\"\"](\"https:\/\/www.phfm.vn\/wp-content\/uploads\/Picture4-10.png\")
Ngu\u1ed3n: Yahoo Finance, FiinPro, PHFM t\u1ed5ng h\u1ee3p<\/figcaption><\/figure>\nTr\u00ean th\u1ef1c t\u1ebf, Indonesia ch\u01b0a b\u1ecb h\u1ea1 h\u1ea1ng. MSCI s\u1ebd nh\u1eadn g\u00f3p \u00fd \u0111\u1ebfn h\u1ebft ng\u00e0y 30\/04\/2027 v\u00e0 ch\u1eadm nh\u1ea5t \u0111\u1ebfn ng\u00e0y 30\/06\/2027 s\u1ebd c\u00f4ng b\u1ed1 quy\u1ebft \u0111\u1ecbnh. Tuy v\u1eady, MSCI n\u00f3i r\u00f5 s\u1ebd ti\u1ebfn h\u00e0nh h\u1ea1 h\u1ea1ng n\u1ebfu Indonesia kh\u00f4ng \u0111\u01b0a ra \u0111\u01b0\u1ee3c b\u1eb1ng ch\u1ee9ng r\u00f5 r\u00e0ng v\u1ec1 vi\u1ec7c c\u1ea3i thi\u1ec7n qu\u1ea3n tr\u1ecb. Th\u1ecb tr\u01b0\u1eddng Argentina c\u0169ng l\u00e0 m\u1ed9t tr\u01b0\u1eddng h\u1ee3p g\u1ea7n nh\u1ea5t. N\u01b0\u1edbc n\u00e0y b\u1ecb chuy\u1ec3n th\u1eb3ng xu\u1ed1ng nh\u00f3m th\u1ecb tr\u01b0\u1eddng \u0111\u1ed9c l\u1eadp n\u0103m 2021 v\u00ec v\u1ea5n \u0111\u1ec1 ki\u1ec3m so\u00e1t v\u1ed1n, v\u00e0 \u0111\u1ebfn nay v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c xem x\u00e9t n\u00e2ng h\u1ea1ng d\u00f9 sau \u0111\u00f3 \u0111\u00e3 n\u1edbi l\u1ecfng \u0111\u00e1ng k\u1ec3 c\u00e1c quy \u0111\u1ecbnh ki\u1ec3m so\u00e1t ngo\u1ea1i h\u1ed1i. C\u00e1c tr\u01b0\u1eddng h\u1ee3p n\u00e0y cho th\u1ea5y MSCI \u0111\u00e1nh gi\u00e1 vi\u1ec7c ph\u00e2n h\u1ea1ng th\u1ecb tr\u01b0\u1eddng r\u1ea5t nghi\u00eam ng\u1eb7t.<\/p>\n
\u0110i\u1ec1u MSCI th\u1ef1c s\u1ef1 lo ng\u1ea1i: ai n\u1eafm c\u1ed5 phi\u1ebfu v\u00e0 gi\u00e1 \u0111\u01b0\u1ee3c h\u00ecnh th\u00e0nh ra sao<\/strong><\/h3>\nTrong t\u00e0i li\u1ec7u tham v\u1ea5n, MSCI cho bi\u1ebft nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i \u0111\u00e3 nhi\u1ec1u l\u1ea7n ph\u1ea3n \u00e1nh hai v\u1ea5n \u0111\u1ec1: c\u1ea5u tr\u00fac c\u1ed5 \u0111\u00f4ng c\u1ee7a doanh nghi\u1ec7p Indonesia thi\u1ebfu minh b\u1ea1ch, v\u00e0 c\u00f3 nh\u1eefng h\u00e0nh vi giao d\u1ecbch ph\u1ed1i h\u1ee3p l\u00e0m m\u00e9o m\u00f3 qu\u00e1 tr\u00ecnh h\u00ecnh th\u00e0nh gi\u00e1. C\u00e1c qu\u1ef9 th\u1ee5 \u0111\u1ed9ng mua c\u1ed5 phi\u1ebfu theo t\u1ef7 l\u1ec7 free float (ph\u1ea7n c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c t\u00ednh l\u00e0 c\u00f3 th\u1ec3 giao d\u1ecbch t\u1ef1 do). N\u1ebfu m\u1ed9t l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c xem l\u00e0 free float th\u1ef1c ra do m\u1ed9t nh\u00f3m c\u1ed5 \u0111\u00f4ng c\u00f3 li\u00ean quan n\u1eafm gi\u1eef, c\u00e1c qu\u1ef9 ch\u1ec9 s\u1ed1 bu\u1ed9c ph\u1ea3i mua m\u1ed9t l\u01b0\u1ee3ng l\u1edbn so v\u1edbi s\u1ed1 c\u1ed5 phi\u1ebfu th\u1ef1c s\u1ef1 c\u00f3 th\u1ec3 mua b\u00e1n. Khi ngu\u1ed3n cung qu\u00e1 th\u1ea5p so v\u1edbi s\u1ee9c mua c\u1ee7a c\u00e1c qu\u1ef9, gi\u00e1 c\u00f3 th\u1ec3 b\u1ecb \u0111\u1ea9y l\u00ean cao h\u01a1n nhi\u1ec1u so v\u1edbi gi\u00e1 tr\u1ecb th\u1ef1c. Ng\u01b0\u1ee3c l\u1ea1i, khi d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng r\u00fat ra, nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 free float th\u1ef1c m\u1ecfng s\u1ebd gi\u1ea3m m\u1ea1nh h\u01a1n m\u1ee9c chung. C\u01a1 ch\u1ebf n\u00e0y l\u00e0 nguy\u00ean nh\u00e2n ch\u00ednh d\u1eabn \u0111\u1ebfn s\u1ef1 s\u1ee5t gi\u1ea3m m\u1ea1nh trong phi\u00ean giao d\u1ecbch ng\u00e0y 16\/10. V\u00ec v\u1eady, v\u1edbi MSCI, v\u1ea5n \u0111\u1ec1 kh\u00f4ng n\u1eb1m nhi\u1ec1u \u1edf ch\u1ea5t l\u01b0\u1ee3ng t\u1eebng doanh nghi\u1ec7p m\u00e0 \u1edf ch\u1ed7 c\u1ea3 th\u1ecb tr\u01b0\u1eddng c\u00f3 c\u00f2n ph\u00f9 h\u1ee3p \u0111\u1ec3 \u0111\u1ea7u t\u01b0 hay kh\u00f4ng.<\/p>\n
Indonesia c\u0169ng c\u00f3 \u0111\u1ed9ng th\u00e1i ngay sau \u0111\u00f3. Sau khi MSCI \u0111\u00f3ng b\u0103ng c\u00e1c thay \u0111\u1ed5i ch\u1ec9 s\u1ed1 h\u1ed3i th\u00e1ng 1, c\u01a1 quan qu\u1ea3n l\u00fd n\u01b0\u1edbc n\u00e0y \u0111\u00e3 ban h\u00e0nh quy \u0111\u1ecbnh m\u1edbi v\u1ec1 c\u00f4ng b\u1ed1 c\u1ed5 \u0111\u00f4ng l\u1edbn, t\u0103ng gi\u00e1m s\u00e1t c\u00e1c c\u1ed5 phi\u1ebfu c\u00f3 s\u1edf h\u1eefu t\u1eadp trung, n\u00e2ng ng\u01b0\u1ee1ng free float t\u1ed1i thi\u1ec3u, x\u1eed ph\u1ea1t n\u1eb7ng m\u1ed9t s\u1ed1 v\u1ee5 thao t\u00fang gi\u00e1 v\u00e0 \u0111\u01b0a c\u00e1c c\u1ed5 phi\u1ebfu c\u00f3 s\u1edf h\u1eefu t\u1eadp trung ra kh\u1ecfi ch\u1ec9 s\u1ed1 ch\u00ednh c\u1ee7a s\u00e0n. D\u00f9 v\u1eady, MSCI v\u1eabn ch\u01b0a th\u1ea5y s\u1ef1 c\u1ea3i thi\u1ec7n n\u00e0y \u0111\u1ee7 thuy\u1ebft ph\u1ee5c. \u0110i\u1ec1u h\u1ecd mu\u1ed1n th\u1ea5y l\u00e0 vi\u1ec7c th\u1ef1c thi \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng \u0111\u1ed3ng \u0111\u1ec1u tr\u00ean to\u00e0n th\u1ecb tr\u01b0\u1eddng v\u00e0 duy tr\u00ec li\u00ean t\u1ee5c, ch\u1ee9 kh\u00f4ng ch\u1ec9 t\u1eadp trung v\u00e0o c\u00e1c m\u00e3 l\u1edbn nh\u1ea5t.<\/p>\n
Nh\u1eefng y\u00eau c\u1ea7u t\u1eeb MSCI \u0111\u1ed1i v\u1edbi th\u1ecb tr\u01b0\u1eddng Indonesia<\/strong><\/p>\n![\"\"](\"https:\/\/www.phfm.vn\/wp-content\/uploads\/Screenshot-2026-10-28-135135.png\")
Ngu\u1ed3n: MSCI, PHFM t\u1ed5ng h\u1ee3p<\/figcaption><\/figure>\nVi\u1ec7t Nam \u0111\u1ee9ng \u1edf \u0111\u00e2u tr\u00ean c\u00f9ng m\u1ed9t th\u01b0\u1edbc \u0111o<\/strong><\/h3>\nTheo ph\u00e2n lo\u1ea1i c\u1ee7a MSCI, Vi\u1ec7t Nam v\u1eabn l\u00e0 th\u1ecb tr\u01b0\u1eddng c\u1eadn bi\u00ean v\u00e0 ch\u01b0a \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o danh s\u00e1ch theo d\u00f5i n\u00e2ng h\u1ea1ng trong k\u1ef3 r\u00e0 so\u00e1t th\u00e1ng 6\/2026. V\u00ec v\u1eady, nhi\u1ec7m v\u1ee5 tr\u01b0\u1edbc m\u1eaft l\u00e0 c\u1ea3i thi\u1ec7n v\u1ecb th\u1ebf c\u1ee7a m\u00ecnh so v\u1edbi c\u00e1c ti\u00eau ch\u00ed MSCI d\u00f9ng \u0111\u1ec3 n\u00e2ng h\u1ea1ng, \u0111\u1ed3ng th\u1eddi gi\u1eef v\u1eefng v\u1ecb th\u1ebf theo ti\u00eau chu\u1ea9n c\u1ee7a FTSE. D\u00f9 v\u1eady, khi \u0111o b\u1eb1ng c\u00f9ng th\u01b0\u1edbc \u0111o free float, th\u1ecb tr\u01b0\u1eddng trong n\u01b0\u1edbc c\u0169ng c\u00f3 \u0111i\u1ec3m y\u1ebfu gi\u1ed1ng Indonesia. Trong 430 c\u1ed5 phi\u1ebfu ni\u00eam y\u1ebft tr\u00ean HOSE, c\u00f3 65 m\u00e3 c\u00f3 free float t\u1eeb 15% tr\u1edf xu\u1ed1ng. Trong nh\u00f3m 40 doanh nghi\u1ec7p l\u1edbn nh\u1ea5t, c\u00e1c m\u00e3 n\u00e0y chi\u1ebfm 30% t\u1ed5ng v\u1ed1n h\u00f3a c\u1ee7a ch\u00ednh nh\u00f3m 40 m\u00e3 \u0111\u00f3.<\/p>\n![\"\"](\"https:\/\/www.phfm.vn\/wp-content\/uploads\/Picture5-9.png\")
Ngu\u1ed3n: FiinPro, PHFM t\u1ed5ng h\u1ee3p<\/figcaption><\/figure>\nKh\u00e1c bi\u1ec7t n\u1eb1m \u1edf ng\u01b0\u1eddi \u0111\u1ee9ng sau ph\u1ea7n c\u1ed5 phi\u1ebfu kh\u00f4ng thu\u1ed9c free float. Trong 30% v\u1ed1n h\u00f3a \u0111\u00f3, 23,6 \u0111i\u1ec3m ph\u1ea7n tr\u0103m thu\u1ed9c v\u1ec1 10 doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc m\u00e0 Nh\u00e0 n\u01b0\u1edbc n\u1eafm gi\u1eef t\u1eeb 50% v\u1ed1n tr\u1edf l\u00ean, v\u1edbi free float b\u00ecnh qu\u00e2n ch\u1ec9 kho\u1ea3ng 8,9%. V\u1edbi Vi\u1ec7t Nam, v\u1ea5n \u0111\u1ec1 \u1edf nh\u00f3m n\u00e0y l\u00e0 ph\u1ea7n c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 giao d\u1ecbch qu\u00e1 nh\u1ecf. MSCI \u0111\u00e3 \u0111\u01b0a m\u1ed9t s\u1ed1 doanh nghi\u1ec7p v\u1ed1n h\u00f3a l\u1edbn c\u00f3 free float th\u1ea5p c\u1ee7a Vi\u1ec7t Nam v\u00e0o di\u1ec7n xem x\u00e9t. R\u00e0o c\u1ea3n l\u1edbn nh\u1ea5t v\u1eabn l\u00e0 gi\u1edbi h\u1ea1n s\u1edf h\u1eefu n\u01b0\u1edbc ngo\u00e0i, hi\u1ec7n \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn h\u01a1n 10% v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng.<\/p>\n![\"\"](\"https:\/\/www.phfm.vn\/wp-content\/uploads\/Picture6-8.png\")
Ngu\u1ed3n: FiinPro, PHFM t\u1ed5ng h\u1ee3p<\/figcaption><\/figure>\nS\u1edf h\u1eefu ng\u1ea7m: r\u1ee7i ro c\u00f3 th\u1eadt nh\u01b0ng ch\u01b0a \u0111o \u0111\u01b0\u1ee3c quy m\u00f4<\/strong><\/h3>\nR\u1ee7i ro gi\u1ed1ng Indonesia nh\u1ea5t n\u1eb1m \u1edf nh\u1eefng c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c t\u00ednh l\u00e0 free float nh\u01b0ng th\u1ef1c ch\u1ea5t do m\u1ed9t nh\u00f3m duy nh\u1ea5t ki\u1ec3m so\u00e1t. \u1ede Vi\u1ec7t Nam, \u0111i\u1ec1u n\u00e0y \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c nh\u1eadn qua c\u00e1c b\u1ea3n \u00e1n. Trong m\u1ed9t v\u1ee5, nh\u00f3m c\u1ee7a \u00f4ng Tr\u1ecbnh V\u0103n Quy\u1ebft d\u00f9ng t\u00ean nh\u00e2n vi\u00ean v\u00e0 ng\u01b0\u1eddi th\u00e2n \u0111\u1ec3 m\u1edf kho\u1ea3ng 190 t\u00e0i kho\u1ea3n, thao t\u00fang 5 m\u00e3 l\u00e0 FLC, ART, AMD, HAI v\u00e0 GAB. Trong m\u1ed9t v\u1ee5 kh\u00e1c l\u00e0 v\u1ee5 Louis Holdings, kho\u1ea3ng 20 t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean ng\u01b0\u1eddi \u0111\u1ee9ng h\u1ed9 \u0111\u00e3 \u0111\u01b0\u1ee3c d\u00f9ng \u0111\u1ec3 \u0111\u01b0a TGG t\u1eeb m\u1ee9c gi\u00e1 kho\u1ea3ng 1.800 \u0111\u1ed3ng l\u00ean \u0111\u1ec9nh 74.800 \u0111\u1ed3ng n\u0103m 2021. C\u00e1c v\u1ee5 n\u00e0y l\u1ecdt kh\u1ecfi v\u00f9ng ki\u1ec3m so\u00e1t d\u1eef li\u1ec7u free float v\u00ec c\u1ed5 \u0111\u00f4ng ch\u1ec9 ph\u1ea3i c\u00f4ng b\u1ed1 khi ng\u01b0\u1eddi c\u00f3 li\u00ean quan n\u1eafm t\u1eeb 5% tr\u1edf l\u00ean, v\u00e0 ng\u01b0\u1eddi \u0111\u1ee9ng t\u00ean h\u1ed9 kh\u00f4ng \u0111\u01b0\u1ee3c x\u1ebfp v\u00e0o nh\u00f3m ng\u01b0\u1eddi c\u00f3 li\u00ean quan. V\u00ec th\u1ebf, nh\u1eefng ph\u1ea7n c\u1ed5 phi\u1ebfu b\u1ecb chia nh\u1ecf d\u01b0\u1edbi ng\u01b0\u1ee1ng \u0111\u00f3 v\u1eabn hi\u1ec7n ra nh\u01b0 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n cho \u0111\u1ebfn khi c\u01a1 quan qu\u1ea3n l\u00fd v\u00e0o cu\u1ed9c.<\/p>\n
C\u00e1c v\u1ee5 \u0111\u00e3 x\u1eed l\u00fd cho \u0111\u1ebfn nay ch\u1ee7 y\u1ebfu li\u00ean quan \u0111\u1ebfn doanh nghi\u1ec7p v\u1ed1n h\u00f3a v\u1eeba v\u00e0 nh\u1ecf, v\u00e0 ch\u01b0a c\u00f3 b\u1ed9 d\u1eef li\u1ec7u n\u00e0o \u0111o \u0111\u01b0\u1ee3c quy m\u00f4 s\u1edf h\u1eefu ng\u1ea7m tr\u00ean to\u00e0n th\u1ecb tr\u01b0\u1eddng. S\u1ef1 b\u1ea5t \u0111\u1ecbnh n\u00e0y lu\u00f4n l\u00e0 m\u1ed9t c\u00e2u h\u1ecfi nghi\u00eam tr\u1ecdng v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i. V\u00ec d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng c\u1ee7a FTSE ph\u00e2n b\u1ed5 theo free float, c\u00e1c c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a v\u1eeba c\u00f3 free float th\u1ef1c t\u1ebf m\u1ecfng h\u01a1n c\u00f4ng b\u1ed1 l\u00e0 n\u01a1i r\u1ee7i ro ki\u1ec3u Indonesia d\u1ec5 xu\u1ea5t hi\u1ec7n nh\u1ea5t.<\/p>\n
Vi\u1ec7t Nam n\u00ean \u01b0u ti\u00ean \u0111i\u1ec1u g\u00ec?<\/strong><\/h3>\nT\u1eeb kinh nghi\u1ec7m c\u1ee7a Indonesia, Vi\u1ec7t Nam n\u00ean \u01b0u ti\u00ean b\u1ed1n nh\u00f3m vi\u1ec7c:<\/p>\n
1. Minh b\u1ea1ch s\u1edf h\u1eefu: <\/strong>h\u1ea1 ng\u01b0\u1ee1ng c\u00f4ng b\u1ed1 c\u1ed5 \u0111\u00f4ng t\u1eeb 5% xu\u1ed1ng 1%, nh\u01b0 Indonesia \u0111\u00e3 l\u00e0m v\u00e0 MSCI \u0111ang d\u00f9ng \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh \u01b0\u1edbc t\u00ednh free float; \u0111\u1ed3ng th\u1eddi c\u00f4ng b\u1ed1 \u0111\u1ecbnh k\u1ef3 c\u01a1 c\u1ea5u s\u1edf h\u1eefu c\u1ee7a to\u00e0n th\u1ecb tr\u01b0\u1eddng b\u1eb1ng ti\u1ebfng Anh, theo \u0111\u1ecbnh d\u1ea1ng m\u00e0 c\u00e1c \u0111\u01a1n v\u1ecb l\u1eadp ch\u1ec9 s\u1ed1 c\u00f3 th\u1ec3 d\u00f9ng tr\u1ef1c ti\u1ebfp.<\/p>\n2. Th\u1ef1c thi v\u00e0 ph\u00e1t hi\u1ec7n s\u1edbm: <\/strong>x\u1eed l\u00fd ngay khi c\u00f3 d\u1ea5u hi\u1ec7u v\u1ec1 t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean h\u1ed9 v\u00e0 giao d\u1ecbch ph\u1ed1i h\u1ee3p, \u00e1p d\u1ee5ng ch\u1ebf t\u00e0i r\u00f5 r\u00e0ng cho m\u1ecdi nh\u00f3m v\u1ed1n h\u00f3a, v\u00e0 c\u00f4ng b\u1ed1 k\u1ecbp th\u1eddi c\u00e1c giao d\u1ecbch th\u1ecfa thu\u1eadn l\u1edbn.<\/p>\n3. Room ngo\u1ea1i v\u00e0 tho\u00e1i v\u1ed1n nh\u00e0 n\u01b0\u1edbc: <\/strong>r\u00e0 so\u00e1t c\u00e1c ng\u00e0nh c\u00f2n gi\u1edbi h\u1ea1n s\u1edf h\u1eefu n\u01b0\u1edbc ngo\u00e0i, tri\u1ec3n khai th\u1ef1c t\u1ebf c\u01a1 ch\u1ebf NVDR \u0111\u00e3 \u0111\u01b0\u1ee3c Lu\u1eadt Ch\u1ee9ng kho\u00e1n 2019 quy \u0111\u1ecbnh, tham kh\u1ea3o kinh nghi\u1ec7m c\u1ee7a Th\u00e1i Lan, v\u00e0 x\u00e2y d\u1ef1ng l\u1ed9 tr\u00ecnh tho\u00e1i v\u1ed1n \u0111\u00e1ng tin c\u1eady cho c\u00e1c doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc c\u00f3 free float th\u1ea5p.<\/p>\n4. B\u00f9 tr\u1eeb trung t\u00e2m v\u00e0 ph\u00f2ng ng\u1eeba t\u1ef7 gi\u00e1: <\/strong>tri\u1ec3n khai \u0111\u1ed1i t\u00e1c b\u00f9 tr\u1eeb trung t\u00e2m (CCP) d\u1ef1 ki\u1ebfn v\u00e0o n\u0103m 2027, c\u00f9ng c\u00e1c c\u00f4ng c\u1ee5 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i t\u00e1ch r\u1ee7i ro t\u1ef7 gi\u00e1 kh\u1ecfi quy\u1ebft \u0111\u1ecbnh mua c\u1ed5 phi\u1ebfu.<\/p>\nC\u00e1c m\u1ed1c c\u1ea7n theo d\u00f5i \u0111\u1ebfn n\u0103m 2027<\/strong><\/p>\n![\"\"](\"https:\/\/www.phfm.vn\/wp-content\/uploads\/Screenshot-2026-10-28-135210.png\")
Ngu\u1ed3n: MSCI, FTSE Russell<\/figcaption><\/figure>\n\u00a0V\u00f5 Ho\u00e0ng Long – Ph\u00f2ng \u0110\u1ea7u t\u01b0, PHFM<\/em><\/p>","protected":false},"excerpt":{"rendered":"MSCI V\u00c0 B\u00c0I TO\u00c1N T\u00cdN NHI\u1ec6M TH\u1eca TR\u01af\u1edcNG Ng\u00e0y 16\/10\/2026, ch\u1ec9 s\u1ed1 JCI c\u1ee7a Indonesia gi\u1ea3m 11,6% ch\u1ec9 trong m\u1ed9t phi\u00ean, m\u1ee9c gi\u1ea3m trong ng\u00e0y m\u1ea1nh nh\u1ea5t trong 28 n\u0103m. C\u00fa s\u1ed1c n\u00e0y x\u1ea3y ra sau khi MSCI m\u1edf tham v\u1ea5n v\u1ec1 vi\u1ec7c chuy\u1ec3n th\u1ecb tr\u01b0\u1eddng n\u00e0y ra kh\u1ecfi nh\u00f3m th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i sang…<\/p>\n","protected":false},"author":10,"featured_media":18798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[103,107],"tags":[],"_links":{"self":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790"}],"collection":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/comments?post=18790"}],"version-history":[{"count":1,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790\/revisions"}],"predecessor-version":[{"id":18804,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790\/revisions\/18804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media\/18798"}],"wp:attachment":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media?parent=18790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/categories?post=18790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/tags?post=18790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Tr\u00ean th\u1ef1c t\u1ebf, Indonesia ch\u01b0a b\u1ecb h\u1ea1 h\u1ea1ng. MSCI s\u1ebd nh\u1eadn g\u00f3p \u00fd \u0111\u1ebfn h\u1ebft ng\u00e0y 30\/04\/2027 v\u00e0 ch\u1eadm nh\u1ea5t \u0111\u1ebfn ng\u00e0y 30\/06\/2027 s\u1ebd c\u00f4ng b\u1ed1 quy\u1ebft \u0111\u1ecbnh. Tuy v\u1eady, MSCI n\u00f3i r\u00f5 s\u1ebd ti\u1ebfn h\u00e0nh h\u1ea1 h\u1ea1ng n\u1ebfu Indonesia kh\u00f4ng \u0111\u01b0a ra \u0111\u01b0\u1ee3c b\u1eb1ng ch\u1ee9ng r\u00f5 r\u00e0ng v\u1ec1 vi\u1ec7c c\u1ea3i thi\u1ec7n qu\u1ea3n tr\u1ecb. Th\u1ecb tr\u01b0\u1eddng Argentina c\u0169ng l\u00e0 m\u1ed9t tr\u01b0\u1eddng h\u1ee3p g\u1ea7n nh\u1ea5t. N\u01b0\u1edbc n\u00e0y b\u1ecb chuy\u1ec3n th\u1eb3ng xu\u1ed1ng nh\u00f3m th\u1ecb tr\u01b0\u1eddng \u0111\u1ed9c l\u1eadp n\u0103m 2021 v\u00ec v\u1ea5n \u0111\u1ec1 ki\u1ec3m so\u00e1t v\u1ed1n, v\u00e0 \u0111\u1ebfn nay v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c xem x\u00e9t n\u00e2ng h\u1ea1ng d\u00f9 sau \u0111\u00f3 \u0111\u00e3 n\u1edbi l\u1ecfng \u0111\u00e1ng k\u1ec3 c\u00e1c quy \u0111\u1ecbnh ki\u1ec3m so\u00e1t ngo\u1ea1i h\u1ed1i. C\u00e1c tr\u01b0\u1eddng h\u1ee3p n\u00e0y cho th\u1ea5y MSCI \u0111\u00e1nh gi\u00e1 vi\u1ec7c ph\u00e2n h\u1ea1ng th\u1ecb tr\u01b0\u1eddng r\u1ea5t nghi\u00eam ng\u1eb7t.<\/p>\n
\u0110i\u1ec1u MSCI th\u1ef1c s\u1ef1 lo ng\u1ea1i: ai n\u1eafm c\u1ed5 phi\u1ebfu v\u00e0 gi\u00e1 \u0111\u01b0\u1ee3c h\u00ecnh th\u00e0nh ra sao<\/strong><\/h3>\nTrong t\u00e0i li\u1ec7u tham v\u1ea5n, MSCI cho bi\u1ebft nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i \u0111\u00e3 nhi\u1ec1u l\u1ea7n ph\u1ea3n \u00e1nh hai v\u1ea5n \u0111\u1ec1: c\u1ea5u tr\u00fac c\u1ed5 \u0111\u00f4ng c\u1ee7a doanh nghi\u1ec7p Indonesia thi\u1ebfu minh b\u1ea1ch, v\u00e0 c\u00f3 nh\u1eefng h\u00e0nh vi giao d\u1ecbch ph\u1ed1i h\u1ee3p l\u00e0m m\u00e9o m\u00f3 qu\u00e1 tr\u00ecnh h\u00ecnh th\u00e0nh gi\u00e1. C\u00e1c qu\u1ef9 th\u1ee5 \u0111\u1ed9ng mua c\u1ed5 phi\u1ebfu theo t\u1ef7 l\u1ec7 free float (ph\u1ea7n c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c t\u00ednh l\u00e0 c\u00f3 th\u1ec3 giao d\u1ecbch t\u1ef1 do). N\u1ebfu m\u1ed9t l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c xem l\u00e0 free float th\u1ef1c ra do m\u1ed9t nh\u00f3m c\u1ed5 \u0111\u00f4ng c\u00f3 li\u00ean quan n\u1eafm gi\u1eef, c\u00e1c qu\u1ef9 ch\u1ec9 s\u1ed1 bu\u1ed9c ph\u1ea3i mua m\u1ed9t l\u01b0\u1ee3ng l\u1edbn so v\u1edbi s\u1ed1 c\u1ed5 phi\u1ebfu th\u1ef1c s\u1ef1 c\u00f3 th\u1ec3 mua b\u00e1n. Khi ngu\u1ed3n cung qu\u00e1 th\u1ea5p so v\u1edbi s\u1ee9c mua c\u1ee7a c\u00e1c qu\u1ef9, gi\u00e1 c\u00f3 th\u1ec3 b\u1ecb \u0111\u1ea9y l\u00ean cao h\u01a1n nhi\u1ec1u so v\u1edbi gi\u00e1 tr\u1ecb th\u1ef1c. Ng\u01b0\u1ee3c l\u1ea1i, khi d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng r\u00fat ra, nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 free float th\u1ef1c m\u1ecfng s\u1ebd gi\u1ea3m m\u1ea1nh h\u01a1n m\u1ee9c chung. C\u01a1 ch\u1ebf n\u00e0y l\u00e0 nguy\u00ean nh\u00e2n ch\u00ednh d\u1eabn \u0111\u1ebfn s\u1ef1 s\u1ee5t gi\u1ea3m m\u1ea1nh trong phi\u00ean giao d\u1ecbch ng\u00e0y 16\/10. V\u00ec v\u1eady, v\u1edbi MSCI, v\u1ea5n \u0111\u1ec1 kh\u00f4ng n\u1eb1m nhi\u1ec1u \u1edf ch\u1ea5t l\u01b0\u1ee3ng t\u1eebng doanh nghi\u1ec7p m\u00e0 \u1edf ch\u1ed7 c\u1ea3 th\u1ecb tr\u01b0\u1eddng c\u00f3 c\u00f2n ph\u00f9 h\u1ee3p \u0111\u1ec3 \u0111\u1ea7u t\u01b0 hay kh\u00f4ng.<\/p>\n
Indonesia c\u0169ng c\u00f3 \u0111\u1ed9ng th\u00e1i ngay sau \u0111\u00f3. Sau khi MSCI \u0111\u00f3ng b\u0103ng c\u00e1c thay \u0111\u1ed5i ch\u1ec9 s\u1ed1 h\u1ed3i th\u00e1ng 1, c\u01a1 quan qu\u1ea3n l\u00fd n\u01b0\u1edbc n\u00e0y \u0111\u00e3 ban h\u00e0nh quy \u0111\u1ecbnh m\u1edbi v\u1ec1 c\u00f4ng b\u1ed1 c\u1ed5 \u0111\u00f4ng l\u1edbn, t\u0103ng gi\u00e1m s\u00e1t c\u00e1c c\u1ed5 phi\u1ebfu c\u00f3 s\u1edf h\u1eefu t\u1eadp trung, n\u00e2ng ng\u01b0\u1ee1ng free float t\u1ed1i thi\u1ec3u, x\u1eed ph\u1ea1t n\u1eb7ng m\u1ed9t s\u1ed1 v\u1ee5 thao t\u00fang gi\u00e1 v\u00e0 \u0111\u01b0a c\u00e1c c\u1ed5 phi\u1ebfu c\u00f3 s\u1edf h\u1eefu t\u1eadp trung ra kh\u1ecfi ch\u1ec9 s\u1ed1 ch\u00ednh c\u1ee7a s\u00e0n. D\u00f9 v\u1eady, MSCI v\u1eabn ch\u01b0a th\u1ea5y s\u1ef1 c\u1ea3i thi\u1ec7n n\u00e0y \u0111\u1ee7 thuy\u1ebft ph\u1ee5c. \u0110i\u1ec1u h\u1ecd mu\u1ed1n th\u1ea5y l\u00e0 vi\u1ec7c th\u1ef1c thi \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng \u0111\u1ed3ng \u0111\u1ec1u tr\u00ean to\u00e0n th\u1ecb tr\u01b0\u1eddng v\u00e0 duy tr\u00ec li\u00ean t\u1ee5c, ch\u1ee9 kh\u00f4ng ch\u1ec9 t\u1eadp trung v\u00e0o c\u00e1c m\u00e3 l\u1edbn nh\u1ea5t.<\/p>\n
Nh\u1eefng y\u00eau c\u1ea7u t\u1eeb MSCI \u0111\u1ed1i v\u1edbi th\u1ecb tr\u01b0\u1eddng Indonesia<\/strong><\/p>\nNgu\u1ed3n: MSCI, PHFM t\u1ed5ng h\u1ee3p<\/figcaption><\/figure>\nVi\u1ec7t Nam \u0111\u1ee9ng \u1edf \u0111\u00e2u tr\u00ean c\u00f9ng m\u1ed9t th\u01b0\u1edbc \u0111o<\/strong><\/h3>\nTheo ph\u00e2n lo\u1ea1i c\u1ee7a MSCI, Vi\u1ec7t Nam v\u1eabn l\u00e0 th\u1ecb tr\u01b0\u1eddng c\u1eadn bi\u00ean v\u00e0 ch\u01b0a \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o danh s\u00e1ch theo d\u00f5i n\u00e2ng h\u1ea1ng trong k\u1ef3 r\u00e0 so\u00e1t th\u00e1ng 6\/2026. V\u00ec v\u1eady, nhi\u1ec7m v\u1ee5 tr\u01b0\u1edbc m\u1eaft l\u00e0 c\u1ea3i thi\u1ec7n v\u1ecb th\u1ebf c\u1ee7a m\u00ecnh so v\u1edbi c\u00e1c ti\u00eau ch\u00ed MSCI d\u00f9ng \u0111\u1ec3 n\u00e2ng h\u1ea1ng, \u0111\u1ed3ng th\u1eddi gi\u1eef v\u1eefng v\u1ecb th\u1ebf theo ti\u00eau chu\u1ea9n c\u1ee7a FTSE. D\u00f9 v\u1eady, khi \u0111o b\u1eb1ng c\u00f9ng th\u01b0\u1edbc \u0111o free float, th\u1ecb tr\u01b0\u1eddng trong n\u01b0\u1edbc c\u0169ng c\u00f3 \u0111i\u1ec3m y\u1ebfu gi\u1ed1ng Indonesia. Trong 430 c\u1ed5 phi\u1ebfu ni\u00eam y\u1ebft tr\u00ean HOSE, c\u00f3 65 m\u00e3 c\u00f3 free float t\u1eeb 15% tr\u1edf xu\u1ed1ng. Trong nh\u00f3m 40 doanh nghi\u1ec7p l\u1edbn nh\u1ea5t, c\u00e1c m\u00e3 n\u00e0y chi\u1ebfm 30% t\u1ed5ng v\u1ed1n h\u00f3a c\u1ee7a ch\u00ednh nh\u00f3m 40 m\u00e3 \u0111\u00f3.<\/p>\nNgu\u1ed3n: FiinPro, PHFM t\u1ed5ng h\u1ee3p<\/figcaption><\/figure>\nKh\u00e1c bi\u1ec7t n\u1eb1m \u1edf ng\u01b0\u1eddi \u0111\u1ee9ng sau ph\u1ea7n c\u1ed5 phi\u1ebfu kh\u00f4ng thu\u1ed9c free float. Trong 30% v\u1ed1n h\u00f3a \u0111\u00f3, 23,6 \u0111i\u1ec3m ph\u1ea7n tr\u0103m thu\u1ed9c v\u1ec1 10 doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc m\u00e0 Nh\u00e0 n\u01b0\u1edbc n\u1eafm gi\u1eef t\u1eeb 50% v\u1ed1n tr\u1edf l\u00ean, v\u1edbi free float b\u00ecnh qu\u00e2n ch\u1ec9 kho\u1ea3ng 8,9%. V\u1edbi Vi\u1ec7t Nam, v\u1ea5n \u0111\u1ec1 \u1edf nh\u00f3m n\u00e0y l\u00e0 ph\u1ea7n c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 giao d\u1ecbch qu\u00e1 nh\u1ecf. MSCI \u0111\u00e3 \u0111\u01b0a m\u1ed9t s\u1ed1 doanh nghi\u1ec7p v\u1ed1n h\u00f3a l\u1edbn c\u00f3 free float th\u1ea5p c\u1ee7a Vi\u1ec7t Nam v\u00e0o di\u1ec7n xem x\u00e9t. R\u00e0o c\u1ea3n l\u1edbn nh\u1ea5t v\u1eabn l\u00e0 gi\u1edbi h\u1ea1n s\u1edf h\u1eefu n\u01b0\u1edbc ngo\u00e0i, hi\u1ec7n \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn h\u01a1n 10% v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng.<\/p>\nNgu\u1ed3n: FiinPro, PHFM t\u1ed5ng h\u1ee3p<\/figcaption><\/figure>\nS\u1edf h\u1eefu ng\u1ea7m: r\u1ee7i ro c\u00f3 th\u1eadt nh\u01b0ng ch\u01b0a \u0111o \u0111\u01b0\u1ee3c quy m\u00f4<\/strong><\/h3>\nR\u1ee7i ro gi\u1ed1ng Indonesia nh\u1ea5t n\u1eb1m \u1edf nh\u1eefng c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c t\u00ednh l\u00e0 free float nh\u01b0ng th\u1ef1c ch\u1ea5t do m\u1ed9t nh\u00f3m duy nh\u1ea5t ki\u1ec3m so\u00e1t. \u1ede Vi\u1ec7t Nam, \u0111i\u1ec1u n\u00e0y \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c nh\u1eadn qua c\u00e1c b\u1ea3n \u00e1n. Trong m\u1ed9t v\u1ee5, nh\u00f3m c\u1ee7a \u00f4ng Tr\u1ecbnh V\u0103n Quy\u1ebft d\u00f9ng t\u00ean nh\u00e2n vi\u00ean v\u00e0 ng\u01b0\u1eddi th\u00e2n \u0111\u1ec3 m\u1edf kho\u1ea3ng 190 t\u00e0i kho\u1ea3n, thao t\u00fang 5 m\u00e3 l\u00e0 FLC, ART, AMD, HAI v\u00e0 GAB. Trong m\u1ed9t v\u1ee5 kh\u00e1c l\u00e0 v\u1ee5 Louis Holdings, kho\u1ea3ng 20 t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean ng\u01b0\u1eddi \u0111\u1ee9ng h\u1ed9 \u0111\u00e3 \u0111\u01b0\u1ee3c d\u00f9ng \u0111\u1ec3 \u0111\u01b0a TGG t\u1eeb m\u1ee9c gi\u00e1 kho\u1ea3ng 1.800 \u0111\u1ed3ng l\u00ean \u0111\u1ec9nh 74.800 \u0111\u1ed3ng n\u0103m 2021. C\u00e1c v\u1ee5 n\u00e0y l\u1ecdt kh\u1ecfi v\u00f9ng ki\u1ec3m so\u00e1t d\u1eef li\u1ec7u free float v\u00ec c\u1ed5 \u0111\u00f4ng ch\u1ec9 ph\u1ea3i c\u00f4ng b\u1ed1 khi ng\u01b0\u1eddi c\u00f3 li\u00ean quan n\u1eafm t\u1eeb 5% tr\u1edf l\u00ean, v\u00e0 ng\u01b0\u1eddi \u0111\u1ee9ng t\u00ean h\u1ed9 kh\u00f4ng \u0111\u01b0\u1ee3c x\u1ebfp v\u00e0o nh\u00f3m ng\u01b0\u1eddi c\u00f3 li\u00ean quan. V\u00ec th\u1ebf, nh\u1eefng ph\u1ea7n c\u1ed5 phi\u1ebfu b\u1ecb chia nh\u1ecf d\u01b0\u1edbi ng\u01b0\u1ee1ng \u0111\u00f3 v\u1eabn hi\u1ec7n ra nh\u01b0 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n cho \u0111\u1ebfn khi c\u01a1 quan qu\u1ea3n l\u00fd v\u00e0o cu\u1ed9c.<\/p>\n
C\u00e1c v\u1ee5 \u0111\u00e3 x\u1eed l\u00fd cho \u0111\u1ebfn nay ch\u1ee7 y\u1ebfu li\u00ean quan \u0111\u1ebfn doanh nghi\u1ec7p v\u1ed1n h\u00f3a v\u1eeba v\u00e0 nh\u1ecf, v\u00e0 ch\u01b0a c\u00f3 b\u1ed9 d\u1eef li\u1ec7u n\u00e0o \u0111o \u0111\u01b0\u1ee3c quy m\u00f4 s\u1edf h\u1eefu ng\u1ea7m tr\u00ean to\u00e0n th\u1ecb tr\u01b0\u1eddng. S\u1ef1 b\u1ea5t \u0111\u1ecbnh n\u00e0y lu\u00f4n l\u00e0 m\u1ed9t c\u00e2u h\u1ecfi nghi\u00eam tr\u1ecdng v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i. V\u00ec d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng c\u1ee7a FTSE ph\u00e2n b\u1ed5 theo free float, c\u00e1c c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a v\u1eeba c\u00f3 free float th\u1ef1c t\u1ebf m\u1ecfng h\u01a1n c\u00f4ng b\u1ed1 l\u00e0 n\u01a1i r\u1ee7i ro ki\u1ec3u Indonesia d\u1ec5 xu\u1ea5t hi\u1ec7n nh\u1ea5t.<\/p>\n
Vi\u1ec7t Nam n\u00ean \u01b0u ti\u00ean \u0111i\u1ec1u g\u00ec?<\/strong><\/h3>\nT\u1eeb kinh nghi\u1ec7m c\u1ee7a Indonesia, Vi\u1ec7t Nam n\u00ean \u01b0u ti\u00ean b\u1ed1n nh\u00f3m vi\u1ec7c:<\/p>\n
1. Minh b\u1ea1ch s\u1edf h\u1eefu: <\/strong>h\u1ea1 ng\u01b0\u1ee1ng c\u00f4ng b\u1ed1 c\u1ed5 \u0111\u00f4ng t\u1eeb 5% xu\u1ed1ng 1%, nh\u01b0 Indonesia \u0111\u00e3 l\u00e0m v\u00e0 MSCI \u0111ang d\u00f9ng \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh \u01b0\u1edbc t\u00ednh free float; \u0111\u1ed3ng th\u1eddi c\u00f4ng b\u1ed1 \u0111\u1ecbnh k\u1ef3 c\u01a1 c\u1ea5u s\u1edf h\u1eefu c\u1ee7a to\u00e0n th\u1ecb tr\u01b0\u1eddng b\u1eb1ng ti\u1ebfng Anh, theo \u0111\u1ecbnh d\u1ea1ng m\u00e0 c\u00e1c \u0111\u01a1n v\u1ecb l\u1eadp ch\u1ec9 s\u1ed1 c\u00f3 th\u1ec3 d\u00f9ng tr\u1ef1c ti\u1ebfp.<\/p>\n2. Th\u1ef1c thi v\u00e0 ph\u00e1t hi\u1ec7n s\u1edbm: <\/strong>x\u1eed l\u00fd ngay khi c\u00f3 d\u1ea5u hi\u1ec7u v\u1ec1 t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean h\u1ed9 v\u00e0 giao d\u1ecbch ph\u1ed1i h\u1ee3p, \u00e1p d\u1ee5ng ch\u1ebf t\u00e0i r\u00f5 r\u00e0ng cho m\u1ecdi nh\u00f3m v\u1ed1n h\u00f3a, v\u00e0 c\u00f4ng b\u1ed1 k\u1ecbp th\u1eddi c\u00e1c giao d\u1ecbch th\u1ecfa thu\u1eadn l\u1edbn.<\/p>\n3. Room ngo\u1ea1i v\u00e0 tho\u00e1i v\u1ed1n nh\u00e0 n\u01b0\u1edbc: <\/strong>r\u00e0 so\u00e1t c\u00e1c ng\u00e0nh c\u00f2n gi\u1edbi h\u1ea1n s\u1edf h\u1eefu n\u01b0\u1edbc ngo\u00e0i, tri\u1ec3n khai th\u1ef1c t\u1ebf c\u01a1 ch\u1ebf NVDR \u0111\u00e3 \u0111\u01b0\u1ee3c Lu\u1eadt Ch\u1ee9ng kho\u00e1n 2019 quy \u0111\u1ecbnh, tham kh\u1ea3o kinh nghi\u1ec7m c\u1ee7a Th\u00e1i Lan, v\u00e0 x\u00e2y d\u1ef1ng l\u1ed9 tr\u00ecnh tho\u00e1i v\u1ed1n \u0111\u00e1ng tin c\u1eady cho c\u00e1c doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc c\u00f3 free float th\u1ea5p.<\/p>\n4. B\u00f9 tr\u1eeb trung t\u00e2m v\u00e0 ph\u00f2ng ng\u1eeba t\u1ef7 gi\u00e1: <\/strong>tri\u1ec3n khai \u0111\u1ed1i t\u00e1c b\u00f9 tr\u1eeb trung t\u00e2m (CCP) d\u1ef1 ki\u1ebfn v\u00e0o n\u0103m 2027, c\u00f9ng c\u00e1c c\u00f4ng c\u1ee5 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i t\u00e1ch r\u1ee7i ro t\u1ef7 gi\u00e1 kh\u1ecfi quy\u1ebft \u0111\u1ecbnh mua c\u1ed5 phi\u1ebfu.<\/p>\nC\u00e1c m\u1ed1c c\u1ea7n theo d\u00f5i \u0111\u1ebfn n\u0103m 2027<\/strong><\/p>\nNgu\u1ed3n: MSCI, FTSE Russell<\/figcaption><\/figure>\n\u00a0V\u00f5 Ho\u00e0ng Long – Ph\u00f2ng \u0110\u1ea7u t\u01b0, PHFM<\/em><\/p>","protected":false},"excerpt":{"rendered":"MSCI V\u00c0 B\u00c0I TO\u00c1N T\u00cdN NHI\u1ec6M TH\u1eca TR\u01af\u1edcNG Ng\u00e0y 16\/10\/2026, ch\u1ec9 s\u1ed1 JCI c\u1ee7a Indonesia gi\u1ea3m 11,6% ch\u1ec9 trong m\u1ed9t phi\u00ean, m\u1ee9c gi\u1ea3m trong ng\u00e0y m\u1ea1nh nh\u1ea5t trong 28 n\u0103m. C\u00fa s\u1ed1c n\u00e0y x\u1ea3y ra sau khi MSCI m\u1edf tham v\u1ea5n v\u1ec1 vi\u1ec7c chuy\u1ec3n th\u1ecb tr\u01b0\u1eddng n\u00e0y ra kh\u1ecfi nh\u00f3m th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i sang…<\/p>\n","protected":false},"author":10,"featured_media":18798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[103,107],"tags":[],"_links":{"self":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790"}],"collection":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/comments?post=18790"}],"version-history":[{"count":1,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790\/revisions"}],"predecessor-version":[{"id":18804,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790\/revisions\/18804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media\/18798"}],"wp:attachment":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media?parent=18790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/categories?post=18790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/tags?post=18790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Vi\u1ec7t Nam \u0111\u1ee9ng \u1edf \u0111\u00e2u tr\u00ean c\u00f9ng m\u1ed9t th\u01b0\u1edbc \u0111o<\/strong><\/h3>\nTheo ph\u00e2n lo\u1ea1i c\u1ee7a MSCI, Vi\u1ec7t Nam v\u1eabn l\u00e0 th\u1ecb tr\u01b0\u1eddng c\u1eadn bi\u00ean v\u00e0 ch\u01b0a \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o danh s\u00e1ch theo d\u00f5i n\u00e2ng h\u1ea1ng trong k\u1ef3 r\u00e0 so\u00e1t th\u00e1ng 6\/2026. V\u00ec v\u1eady, nhi\u1ec7m v\u1ee5 tr\u01b0\u1edbc m\u1eaft l\u00e0 c\u1ea3i thi\u1ec7n v\u1ecb th\u1ebf c\u1ee7a m\u00ecnh so v\u1edbi c\u00e1c ti\u00eau ch\u00ed MSCI d\u00f9ng \u0111\u1ec3 n\u00e2ng h\u1ea1ng, \u0111\u1ed3ng th\u1eddi gi\u1eef v\u1eefng v\u1ecb th\u1ebf theo ti\u00eau chu\u1ea9n c\u1ee7a FTSE. D\u00f9 v\u1eady, khi \u0111o b\u1eb1ng c\u00f9ng th\u01b0\u1edbc \u0111o free float, th\u1ecb tr\u01b0\u1eddng trong n\u01b0\u1edbc c\u0169ng c\u00f3 \u0111i\u1ec3m y\u1ebfu gi\u1ed1ng Indonesia. Trong 430 c\u1ed5 phi\u1ebfu ni\u00eam y\u1ebft tr\u00ean HOSE, c\u00f3 65 m\u00e3 c\u00f3 free float t\u1eeb 15% tr\u1edf xu\u1ed1ng. Trong nh\u00f3m 40 doanh nghi\u1ec7p l\u1edbn nh\u1ea5t, c\u00e1c m\u00e3 n\u00e0y chi\u1ebfm 30% t\u1ed5ng v\u1ed1n h\u00f3a c\u1ee7a ch\u00ednh nh\u00f3m 40 m\u00e3 \u0111\u00f3.<\/p>\nNgu\u1ed3n: FiinPro, PHFM t\u1ed5ng h\u1ee3p<\/figcaption><\/figure>\nKh\u00e1c bi\u1ec7t n\u1eb1m \u1edf ng\u01b0\u1eddi \u0111\u1ee9ng sau ph\u1ea7n c\u1ed5 phi\u1ebfu kh\u00f4ng thu\u1ed9c free float. Trong 30% v\u1ed1n h\u00f3a \u0111\u00f3, 23,6 \u0111i\u1ec3m ph\u1ea7n tr\u0103m thu\u1ed9c v\u1ec1 10 doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc m\u00e0 Nh\u00e0 n\u01b0\u1edbc n\u1eafm gi\u1eef t\u1eeb 50% v\u1ed1n tr\u1edf l\u00ean, v\u1edbi free float b\u00ecnh qu\u00e2n ch\u1ec9 kho\u1ea3ng 8,9%. V\u1edbi Vi\u1ec7t Nam, v\u1ea5n \u0111\u1ec1 \u1edf nh\u00f3m n\u00e0y l\u00e0 ph\u1ea7n c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 giao d\u1ecbch qu\u00e1 nh\u1ecf. MSCI \u0111\u00e3 \u0111\u01b0a m\u1ed9t s\u1ed1 doanh nghi\u1ec7p v\u1ed1n h\u00f3a l\u1edbn c\u00f3 free float th\u1ea5p c\u1ee7a Vi\u1ec7t Nam v\u00e0o di\u1ec7n xem x\u00e9t. R\u00e0o c\u1ea3n l\u1edbn nh\u1ea5t v\u1eabn l\u00e0 gi\u1edbi h\u1ea1n s\u1edf h\u1eefu n\u01b0\u1edbc ngo\u00e0i, hi\u1ec7n \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn h\u01a1n 10% v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng.<\/p>\nNgu\u1ed3n: FiinPro, PHFM t\u1ed5ng h\u1ee3p<\/figcaption><\/figure>\nS\u1edf h\u1eefu ng\u1ea7m: r\u1ee7i ro c\u00f3 th\u1eadt nh\u01b0ng ch\u01b0a \u0111o \u0111\u01b0\u1ee3c quy m\u00f4<\/strong><\/h3>\nR\u1ee7i ro gi\u1ed1ng Indonesia nh\u1ea5t n\u1eb1m \u1edf nh\u1eefng c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c t\u00ednh l\u00e0 free float nh\u01b0ng th\u1ef1c ch\u1ea5t do m\u1ed9t nh\u00f3m duy nh\u1ea5t ki\u1ec3m so\u00e1t. \u1ede Vi\u1ec7t Nam, \u0111i\u1ec1u n\u00e0y \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c nh\u1eadn qua c\u00e1c b\u1ea3n \u00e1n. Trong m\u1ed9t v\u1ee5, nh\u00f3m c\u1ee7a \u00f4ng Tr\u1ecbnh V\u0103n Quy\u1ebft d\u00f9ng t\u00ean nh\u00e2n vi\u00ean v\u00e0 ng\u01b0\u1eddi th\u00e2n \u0111\u1ec3 m\u1edf kho\u1ea3ng 190 t\u00e0i kho\u1ea3n, thao t\u00fang 5 m\u00e3 l\u00e0 FLC, ART, AMD, HAI v\u00e0 GAB. Trong m\u1ed9t v\u1ee5 kh\u00e1c l\u00e0 v\u1ee5 Louis Holdings, kho\u1ea3ng 20 t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean ng\u01b0\u1eddi \u0111\u1ee9ng h\u1ed9 \u0111\u00e3 \u0111\u01b0\u1ee3c d\u00f9ng \u0111\u1ec3 \u0111\u01b0a TGG t\u1eeb m\u1ee9c gi\u00e1 kho\u1ea3ng 1.800 \u0111\u1ed3ng l\u00ean \u0111\u1ec9nh 74.800 \u0111\u1ed3ng n\u0103m 2021. C\u00e1c v\u1ee5 n\u00e0y l\u1ecdt kh\u1ecfi v\u00f9ng ki\u1ec3m so\u00e1t d\u1eef li\u1ec7u free float v\u00ec c\u1ed5 \u0111\u00f4ng ch\u1ec9 ph\u1ea3i c\u00f4ng b\u1ed1 khi ng\u01b0\u1eddi c\u00f3 li\u00ean quan n\u1eafm t\u1eeb 5% tr\u1edf l\u00ean, v\u00e0 ng\u01b0\u1eddi \u0111\u1ee9ng t\u00ean h\u1ed9 kh\u00f4ng \u0111\u01b0\u1ee3c x\u1ebfp v\u00e0o nh\u00f3m ng\u01b0\u1eddi c\u00f3 li\u00ean quan. V\u00ec th\u1ebf, nh\u1eefng ph\u1ea7n c\u1ed5 phi\u1ebfu b\u1ecb chia nh\u1ecf d\u01b0\u1edbi ng\u01b0\u1ee1ng \u0111\u00f3 v\u1eabn hi\u1ec7n ra nh\u01b0 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n cho \u0111\u1ebfn khi c\u01a1 quan qu\u1ea3n l\u00fd v\u00e0o cu\u1ed9c.<\/p>\n
C\u00e1c v\u1ee5 \u0111\u00e3 x\u1eed l\u00fd cho \u0111\u1ebfn nay ch\u1ee7 y\u1ebfu li\u00ean quan \u0111\u1ebfn doanh nghi\u1ec7p v\u1ed1n h\u00f3a v\u1eeba v\u00e0 nh\u1ecf, v\u00e0 ch\u01b0a c\u00f3 b\u1ed9 d\u1eef li\u1ec7u n\u00e0o \u0111o \u0111\u01b0\u1ee3c quy m\u00f4 s\u1edf h\u1eefu ng\u1ea7m tr\u00ean to\u00e0n th\u1ecb tr\u01b0\u1eddng. S\u1ef1 b\u1ea5t \u0111\u1ecbnh n\u00e0y lu\u00f4n l\u00e0 m\u1ed9t c\u00e2u h\u1ecfi nghi\u00eam tr\u1ecdng v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i. V\u00ec d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng c\u1ee7a FTSE ph\u00e2n b\u1ed5 theo free float, c\u00e1c c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a v\u1eeba c\u00f3 free float th\u1ef1c t\u1ebf m\u1ecfng h\u01a1n c\u00f4ng b\u1ed1 l\u00e0 n\u01a1i r\u1ee7i ro ki\u1ec3u Indonesia d\u1ec5 xu\u1ea5t hi\u1ec7n nh\u1ea5t.<\/p>\n
Vi\u1ec7t Nam n\u00ean \u01b0u ti\u00ean \u0111i\u1ec1u g\u00ec?<\/strong><\/h3>\nT\u1eeb kinh nghi\u1ec7m c\u1ee7a Indonesia, Vi\u1ec7t Nam n\u00ean \u01b0u ti\u00ean b\u1ed1n nh\u00f3m vi\u1ec7c:<\/p>\n
1. Minh b\u1ea1ch s\u1edf h\u1eefu: <\/strong>h\u1ea1 ng\u01b0\u1ee1ng c\u00f4ng b\u1ed1 c\u1ed5 \u0111\u00f4ng t\u1eeb 5% xu\u1ed1ng 1%, nh\u01b0 Indonesia \u0111\u00e3 l\u00e0m v\u00e0 MSCI \u0111ang d\u00f9ng \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh \u01b0\u1edbc t\u00ednh free float; \u0111\u1ed3ng th\u1eddi c\u00f4ng b\u1ed1 \u0111\u1ecbnh k\u1ef3 c\u01a1 c\u1ea5u s\u1edf h\u1eefu c\u1ee7a to\u00e0n th\u1ecb tr\u01b0\u1eddng b\u1eb1ng ti\u1ebfng Anh, theo \u0111\u1ecbnh d\u1ea1ng m\u00e0 c\u00e1c \u0111\u01a1n v\u1ecb l\u1eadp ch\u1ec9 s\u1ed1 c\u00f3 th\u1ec3 d\u00f9ng tr\u1ef1c ti\u1ebfp.<\/p>\n2. Th\u1ef1c thi v\u00e0 ph\u00e1t hi\u1ec7n s\u1edbm: <\/strong>x\u1eed l\u00fd ngay khi c\u00f3 d\u1ea5u hi\u1ec7u v\u1ec1 t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean h\u1ed9 v\u00e0 giao d\u1ecbch ph\u1ed1i h\u1ee3p, \u00e1p d\u1ee5ng ch\u1ebf t\u00e0i r\u00f5 r\u00e0ng cho m\u1ecdi nh\u00f3m v\u1ed1n h\u00f3a, v\u00e0 c\u00f4ng b\u1ed1 k\u1ecbp th\u1eddi c\u00e1c giao d\u1ecbch th\u1ecfa thu\u1eadn l\u1edbn.<\/p>\n3. Room ngo\u1ea1i v\u00e0 tho\u00e1i v\u1ed1n nh\u00e0 n\u01b0\u1edbc: <\/strong>r\u00e0 so\u00e1t c\u00e1c ng\u00e0nh c\u00f2n gi\u1edbi h\u1ea1n s\u1edf h\u1eefu n\u01b0\u1edbc ngo\u00e0i, tri\u1ec3n khai th\u1ef1c t\u1ebf c\u01a1 ch\u1ebf NVDR \u0111\u00e3 \u0111\u01b0\u1ee3c Lu\u1eadt Ch\u1ee9ng kho\u00e1n 2019 quy \u0111\u1ecbnh, tham kh\u1ea3o kinh nghi\u1ec7m c\u1ee7a Th\u00e1i Lan, v\u00e0 x\u00e2y d\u1ef1ng l\u1ed9 tr\u00ecnh tho\u00e1i v\u1ed1n \u0111\u00e1ng tin c\u1eady cho c\u00e1c doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc c\u00f3 free float th\u1ea5p.<\/p>\n4. B\u00f9 tr\u1eeb trung t\u00e2m v\u00e0 ph\u00f2ng ng\u1eeba t\u1ef7 gi\u00e1: <\/strong>tri\u1ec3n khai \u0111\u1ed1i t\u00e1c b\u00f9 tr\u1eeb trung t\u00e2m (CCP) d\u1ef1 ki\u1ebfn v\u00e0o n\u0103m 2027, c\u00f9ng c\u00e1c c\u00f4ng c\u1ee5 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i t\u00e1ch r\u1ee7i ro t\u1ef7 gi\u00e1 kh\u1ecfi quy\u1ebft \u0111\u1ecbnh mua c\u1ed5 phi\u1ebfu.<\/p>\nC\u00e1c m\u1ed1c c\u1ea7n theo d\u00f5i \u0111\u1ebfn n\u0103m 2027<\/strong><\/p>\nNgu\u1ed3n: MSCI, FTSE Russell<\/figcaption><\/figure>\n\u00a0V\u00f5 Ho\u00e0ng Long – Ph\u00f2ng \u0110\u1ea7u t\u01b0, PHFM<\/em><\/p>","protected":false},"excerpt":{"rendered":"MSCI V\u00c0 B\u00c0I TO\u00c1N T\u00cdN NHI\u1ec6M TH\u1eca TR\u01af\u1edcNG Ng\u00e0y 16\/10\/2026, ch\u1ec9 s\u1ed1 JCI c\u1ee7a Indonesia gi\u1ea3m 11,6% ch\u1ec9 trong m\u1ed9t phi\u00ean, m\u1ee9c gi\u1ea3m trong ng\u00e0y m\u1ea1nh nh\u1ea5t trong 28 n\u0103m. C\u00fa s\u1ed1c n\u00e0y x\u1ea3y ra sau khi MSCI m\u1edf tham v\u1ea5n v\u1ec1 vi\u1ec7c chuy\u1ec3n th\u1ecb tr\u01b0\u1eddng n\u00e0y ra kh\u1ecfi nh\u00f3m th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i sang…<\/p>\n","protected":false},"author":10,"featured_media":18798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[103,107],"tags":[],"_links":{"self":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790"}],"collection":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/comments?post=18790"}],"version-history":[{"count":1,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790\/revisions"}],"predecessor-version":[{"id":18804,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790\/revisions\/18804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media\/18798"}],"wp:attachment":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media?parent=18790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/categories?post=18790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/tags?post=18790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Kh\u00e1c bi\u1ec7t n\u1eb1m \u1edf ng\u01b0\u1eddi \u0111\u1ee9ng sau ph\u1ea7n c\u1ed5 phi\u1ebfu kh\u00f4ng thu\u1ed9c free float. Trong 30% v\u1ed1n h\u00f3a \u0111\u00f3, 23,6 \u0111i\u1ec3m ph\u1ea7n tr\u0103m thu\u1ed9c v\u1ec1 10 doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc m\u00e0 Nh\u00e0 n\u01b0\u1edbc n\u1eafm gi\u1eef t\u1eeb 50% v\u1ed1n tr\u1edf l\u00ean, v\u1edbi free float b\u00ecnh qu\u00e2n ch\u1ec9 kho\u1ea3ng 8,9%. V\u1edbi Vi\u1ec7t Nam, v\u1ea5n \u0111\u1ec1 \u1edf nh\u00f3m n\u00e0y l\u00e0 ph\u1ea7n c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 giao d\u1ecbch qu\u00e1 nh\u1ecf. MSCI \u0111\u00e3 \u0111\u01b0a m\u1ed9t s\u1ed1 doanh nghi\u1ec7p v\u1ed1n h\u00f3a l\u1edbn c\u00f3 free float th\u1ea5p c\u1ee7a Vi\u1ec7t Nam v\u00e0o di\u1ec7n xem x\u00e9t. R\u00e0o c\u1ea3n l\u1edbn nh\u1ea5t v\u1eabn l\u00e0 gi\u1edbi h\u1ea1n s\u1edf h\u1eefu n\u01b0\u1edbc ngo\u00e0i, hi\u1ec7n \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn h\u01a1n 10% v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng.<\/p>\n R\u1ee7i ro gi\u1ed1ng Indonesia nh\u1ea5t n\u1eb1m \u1edf nh\u1eefng c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c t\u00ednh l\u00e0 free float nh\u01b0ng th\u1ef1c ch\u1ea5t do m\u1ed9t nh\u00f3m duy nh\u1ea5t ki\u1ec3m so\u00e1t. \u1ede Vi\u1ec7t Nam, \u0111i\u1ec1u n\u00e0y \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c nh\u1eadn qua c\u00e1c b\u1ea3n \u00e1n. Trong m\u1ed9t v\u1ee5, nh\u00f3m c\u1ee7a \u00f4ng Tr\u1ecbnh V\u0103n Quy\u1ebft d\u00f9ng t\u00ean nh\u00e2n vi\u00ean v\u00e0 ng\u01b0\u1eddi th\u00e2n \u0111\u1ec3 m\u1edf kho\u1ea3ng 190 t\u00e0i kho\u1ea3n, thao t\u00fang 5 m\u00e3 l\u00e0 FLC, ART, AMD, HAI v\u00e0 GAB. Trong m\u1ed9t v\u1ee5 kh\u00e1c l\u00e0 v\u1ee5 Louis Holdings, kho\u1ea3ng 20 t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean ng\u01b0\u1eddi \u0111\u1ee9ng h\u1ed9 \u0111\u00e3 \u0111\u01b0\u1ee3c d\u00f9ng \u0111\u1ec3 \u0111\u01b0a TGG t\u1eeb m\u1ee9c gi\u00e1 kho\u1ea3ng 1.800 \u0111\u1ed3ng l\u00ean \u0111\u1ec9nh 74.800 \u0111\u1ed3ng n\u0103m 2021. C\u00e1c v\u1ee5 n\u00e0y l\u1ecdt kh\u1ecfi v\u00f9ng ki\u1ec3m so\u00e1t d\u1eef li\u1ec7u free float v\u00ec c\u1ed5 \u0111\u00f4ng ch\u1ec9 ph\u1ea3i c\u00f4ng b\u1ed1 khi ng\u01b0\u1eddi c\u00f3 li\u00ean quan n\u1eafm t\u1eeb 5% tr\u1edf l\u00ean, v\u00e0 ng\u01b0\u1eddi \u0111\u1ee9ng t\u00ean h\u1ed9 kh\u00f4ng \u0111\u01b0\u1ee3c x\u1ebfp v\u00e0o nh\u00f3m ng\u01b0\u1eddi c\u00f3 li\u00ean quan. V\u00ec th\u1ebf, nh\u1eefng ph\u1ea7n c\u1ed5 phi\u1ebfu b\u1ecb chia nh\u1ecf d\u01b0\u1edbi ng\u01b0\u1ee1ng \u0111\u00f3 v\u1eabn hi\u1ec7n ra nh\u01b0 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n cho \u0111\u1ebfn khi c\u01a1 quan qu\u1ea3n l\u00fd v\u00e0o cu\u1ed9c.<\/p>\n C\u00e1c v\u1ee5 \u0111\u00e3 x\u1eed l\u00fd cho \u0111\u1ebfn nay ch\u1ee7 y\u1ebfu li\u00ean quan \u0111\u1ebfn doanh nghi\u1ec7p v\u1ed1n h\u00f3a v\u1eeba v\u00e0 nh\u1ecf, v\u00e0 ch\u01b0a c\u00f3 b\u1ed9 d\u1eef li\u1ec7u n\u00e0o \u0111o \u0111\u01b0\u1ee3c quy m\u00f4 s\u1edf h\u1eefu ng\u1ea7m tr\u00ean to\u00e0n th\u1ecb tr\u01b0\u1eddng. S\u1ef1 b\u1ea5t \u0111\u1ecbnh n\u00e0y lu\u00f4n l\u00e0 m\u1ed9t c\u00e2u h\u1ecfi nghi\u00eam tr\u1ecdng v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i. V\u00ec d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng c\u1ee7a FTSE ph\u00e2n b\u1ed5 theo free float, c\u00e1c c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a v\u1eeba c\u00f3 free float th\u1ef1c t\u1ebf m\u1ecfng h\u01a1n c\u00f4ng b\u1ed1 l\u00e0 n\u01a1i r\u1ee7i ro ki\u1ec3u Indonesia d\u1ec5 xu\u1ea5t hi\u1ec7n nh\u1ea5t.<\/p>\n T\u1eeb kinh nghi\u1ec7m c\u1ee7a Indonesia, Vi\u1ec7t Nam n\u00ean \u01b0u ti\u00ean b\u1ed1n nh\u00f3m vi\u1ec7c:<\/p>\n 1. Minh b\u1ea1ch s\u1edf h\u1eefu: <\/strong>h\u1ea1 ng\u01b0\u1ee1ng c\u00f4ng b\u1ed1 c\u1ed5 \u0111\u00f4ng t\u1eeb 5% xu\u1ed1ng 1%, nh\u01b0 Indonesia \u0111\u00e3 l\u00e0m v\u00e0 MSCI \u0111ang d\u00f9ng \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh \u01b0\u1edbc t\u00ednh free float; \u0111\u1ed3ng th\u1eddi c\u00f4ng b\u1ed1 \u0111\u1ecbnh k\u1ef3 c\u01a1 c\u1ea5u s\u1edf h\u1eefu c\u1ee7a to\u00e0n th\u1ecb tr\u01b0\u1eddng b\u1eb1ng ti\u1ebfng Anh, theo \u0111\u1ecbnh d\u1ea1ng m\u00e0 c\u00e1c \u0111\u01a1n v\u1ecb l\u1eadp ch\u1ec9 s\u1ed1 c\u00f3 th\u1ec3 d\u00f9ng tr\u1ef1c ti\u1ebfp.<\/p>\n 2. Th\u1ef1c thi v\u00e0 ph\u00e1t hi\u1ec7n s\u1edbm: <\/strong>x\u1eed l\u00fd ngay khi c\u00f3 d\u1ea5u hi\u1ec7u v\u1ec1 t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean h\u1ed9 v\u00e0 giao d\u1ecbch ph\u1ed1i h\u1ee3p, \u00e1p d\u1ee5ng ch\u1ebf t\u00e0i r\u00f5 r\u00e0ng cho m\u1ecdi nh\u00f3m v\u1ed1n h\u00f3a, v\u00e0 c\u00f4ng b\u1ed1 k\u1ecbp th\u1eddi c\u00e1c giao d\u1ecbch th\u1ecfa thu\u1eadn l\u1edbn.<\/p>\n 3. Room ngo\u1ea1i v\u00e0 tho\u00e1i v\u1ed1n nh\u00e0 n\u01b0\u1edbc: <\/strong>r\u00e0 so\u00e1t c\u00e1c ng\u00e0nh c\u00f2n gi\u1edbi h\u1ea1n s\u1edf h\u1eefu n\u01b0\u1edbc ngo\u00e0i, tri\u1ec3n khai th\u1ef1c t\u1ebf c\u01a1 ch\u1ebf NVDR \u0111\u00e3 \u0111\u01b0\u1ee3c Lu\u1eadt Ch\u1ee9ng kho\u00e1n 2019 quy \u0111\u1ecbnh, tham kh\u1ea3o kinh nghi\u1ec7m c\u1ee7a Th\u00e1i Lan, v\u00e0 x\u00e2y d\u1ef1ng l\u1ed9 tr\u00ecnh tho\u00e1i v\u1ed1n \u0111\u00e1ng tin c\u1eady cho c\u00e1c doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc c\u00f3 free float th\u1ea5p.<\/p>\n 4. B\u00f9 tr\u1eeb trung t\u00e2m v\u00e0 ph\u00f2ng ng\u1eeba t\u1ef7 gi\u00e1: <\/strong>tri\u1ec3n khai \u0111\u1ed1i t\u00e1c b\u00f9 tr\u1eeb trung t\u00e2m (CCP) d\u1ef1 ki\u1ebfn v\u00e0o n\u0103m 2027, c\u00f9ng c\u00e1c c\u00f4ng c\u1ee5 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i t\u00e1ch r\u1ee7i ro t\u1ef7 gi\u00e1 kh\u1ecfi quy\u1ebft \u0111\u1ecbnh mua c\u1ed5 phi\u1ebfu.<\/p>\n C\u00e1c m\u1ed1c c\u1ea7n theo d\u00f5i \u0111\u1ebfn n\u0103m 2027<\/strong><\/p>\n \u00a0V\u00f5 Ho\u00e0ng Long – Ph\u00f2ng \u0110\u1ea7u t\u01b0, PHFM<\/em><\/p>","protected":false},"excerpt":{"rendered":" MSCI V\u00c0 B\u00c0I TO\u00c1N T\u00cdN NHI\u1ec6M TH\u1eca TR\u01af\u1edcNG Ng\u00e0y 16\/10\/2026, ch\u1ec9 s\u1ed1 JCI c\u1ee7a Indonesia gi\u1ea3m 11,6% ch\u1ec9 trong m\u1ed9t phi\u00ean, m\u1ee9c gi\u1ea3m trong ng\u00e0y m\u1ea1nh nh\u1ea5t trong 28 n\u0103m. C\u00fa s\u1ed1c n\u00e0y x\u1ea3y ra sau khi MSCI m\u1edf tham v\u1ea5n v\u1ec1 vi\u1ec7c chuy\u1ec3n th\u1ecb tr\u01b0\u1eddng n\u00e0y ra kh\u1ecfi nh\u00f3m th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i sang…<\/p>\n","protected":false},"author":10,"featured_media":18798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[103,107],"tags":[],"_links":{"self":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790"}],"collection":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/comments?post=18790"}],"version-history":[{"count":1,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790\/revisions"}],"predecessor-version":[{"id":18804,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/18790\/revisions\/18804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media\/18798"}],"wp:attachment":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media?parent=18790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/categories?post=18790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/tags?post=18790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}S\u1edf h\u1eefu ng\u1ea7m: r\u1ee7i ro c\u00f3 th\u1eadt nh\u01b0ng ch\u01b0a \u0111o \u0111\u01b0\u1ee3c quy m\u00f4<\/strong><\/h3>\n
Vi\u1ec7t Nam n\u00ean \u01b0u ti\u00ean \u0111i\u1ec1u g\u00ec?<\/strong><\/h3>\n