That bai khi niem yet
Ba phien giao dich tap trung tai Trung tam Giao dich Chung khoan TP HCM cho thay su that bai cua viec dua trai phieu Vietcombank len niem yet. Trong boi canh thi truong chung khoan dang giam manh nhu hien nay, giao dich cua trai phieu Vietcombank duong nhien bi anh huong it nhieu. Song duoi goc do thi truong, gia giao dich tren san cua trai phieu Vietcombank da duoc xac dinh lai mot cach chinh xac va thuc chat hon. Chuyen cua nha dau tu Thang 3, dung vao thoi diem thi truong chung khoan len con sot, ba Tien cung voi hai nguoi ban da chung tien mua trai phieu Vietcombank voi so tien tren 4 ty dong menh gia voi gia 130.000 dong/trai phieu. Hon mot thang sau, thi truong van tang manh ca tren chinh thuc va khong chinh thuc, gia trai phieu cung tang theo. Trong khi hai nguoi ban nhanh tay ban di voi gia 185.000 dong va 182.000 dong, thi rieng ba Tien lai quyet dinh giu voi ky vong khi len san gia se tang cao hon. Nhung khi trai phieu da len san, khong nhung gia khong tang ma viec ban di cung kho do khong co nguoi mua. Dua nhau ban Dieu nhan thay rat ro qua nhung giao dich cua trai phieu Vietcombank la luong chao ban trai phieu nay luon cao hon luong chao mua. Tai phien giao dich dau tien ngay 28/7, luong chao ban len toi 80.000 trai phieu, trong khi chao mua chi 7.000 trai phieu. Su chenh lech kha lon giua gia dat mua (chu yeu tu muc gia 102.000 dong/co phieu -130.000 dong/trai phieu) va gia chao ban (chu yeu tu muc gia 140.000 dong/co phieu -172.000 dong/trai phieu), khien cho luong giao dich thanh cong chi dat 4.000 trai phieu. Tuy nhien, sang den cac phien giao dich sau, muc gia giao dich cua trai phieu nay da giam xuong bang dung menh gia 100.000 dong/trai phieu. Bat loi vi... "cuon theo chieu gio" Viec len san cua trai phieu Vietcombank co y nghia lon la lam tang tinh thuan loi, an toan va minh bach trong giao dich trai phieu. Nhung gia nhu trai phieu Vietcombank chua len san, gia se con giu duoc o muc gap 1,6 den 1,7 lan so voi menh gia. Khac voi cac trai phieu hien dang duoc niem yet tren thi truong chung khoan, trai phieu Vietcombank chi duoc phep ban lai cho cac to chuc, ca nhan la nguoi Viet Nam. Voi uoc tinh khoang 60.000 tai khoan giao dich, trong do dai da so la nguoi dau tu ca nhan, thi truong chung khoan Viet Nam van con rat mong va de bi ton thuong truoc nhung cu soc. Nhung nguoi dau tu moi tham gia vao thi truong la nhung nguoi tao nen con sot, nhung phan lon ho khong co muc tieu hay chien luoc dau tu cu the, ho chi "cuon theo chieu gio". Trai lai, nguoi dau tu nuoc ngoai voi muc tieu va chien luoc dau tu cu the la nhan to on dinh cho thi truong. Theo gioi quan sat, su thieu hut ve cau tu phia cac nha dau tu nuoc ngoai cang tao them bat loi cho trai phieu Vietcombank. Hien nay, cau doi voi trai phieu nay duoc quyet dinh boi cac to chuc va ca nhan dau tu trong nuoc. Tuy nhien, cac to chuc dau tu co nhu cau mua mot khoi luong lon trai phieu de tro thanh co dong cua Vietcombank khi ngan hang tien hanh co phan hoa, mot phan da mua qua dau thau vao thang 12/2005, mot so khac mua qua thi truong chung khoan lai chi muon mua voi gia khong qua 15% so voi menh gia. Con cac nha dau tu ca nhan, da mua voi gia cao tren thi truong tu do nay chi mong ban de thu von hoac cho gia thap moi mua vao. Cuoi thang 7, vong xoay giam gia tiep tuc dien ra trong boi canh hang trieu co phieu niem yet moi va bo sung tiep tuc len san, trong khi suc cau chua co dau hieu cai thien, neu khong muon noi la tiep tuc suy giam, do mot bo phan nguoi dau tu tiep tuc roi khoi thi truong. Chi co cac nha dau tu nuoc ngoai coi day la co hoi de bo sung danh muc cua minh. Hon 1.300 ty dong gia tri trai phieu Vietcombank tiep tuc "bom" vao cang them bat loi cho thi truong. Viec niem yet vao luc nay cua trai phieu Vietcombank khong thuan cho ca ngan hang va thi truong. (Theo Lao Dong) |
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