BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

TNG QUAN

Tun th 8 lin tip NHNN ht rng trn OMO. Vic ht rng c thc
hin ch yu trong 3 phin giao dch cui tun. Khi lng ht rng trong tun
va ri gim so vi tun trc nhng vn mc kh cao (14.000 t ng).
Nh vy, trong 2 thng tr li y, NHNN ht rng v gn 100.000 t ng
trn th trng OMO. Con s ny xp x vi lng tin NHNN bm ra ti
cp vn cho mt s ngn hng (khong 70.000 t ng) cng nh mua vo 1 t
USD ci thin d tr ngoi hi (21.000 t ng).

Li sut u thu TPCP gim- tn hiu i u cho mt bng li sut. Phin

u thu TPCP mi y nht (ngy 16/06/2011) tip tc cho thy s thnh
cng khi hu ht khi lng gi thu bn ht vi mc li sut gim kh
mnh so vi phin u thu trc. iu ny tip tc cng c nhn nh ca
BVSC trong cc bn tin trc v vic li sut nhiu kh nng qua vng nh
v ang c chiu hng gim xung.

T gi tng t bin trong phin cui tun. Sng ngy 17/06, gi USD mua
vo - bn ra theo biu nim yt ca cc ngn hng thng mi ng lot tng
mnh, ln mc cao nht trong gn hai thng qua. Hin chng ti cha xc nh
c nguyn nhn khin t gi bt ng tng tr li nhng nhiu kh nng l do
thng tin tng trng tn dng bng ngoi t m NHNN cng b cho n ngy
10/06 t trn 22%.

u thu TPCP ca KBNN tip tc thnh cng vi t l cao. Phin u

thu TP k hn 2 nm, 3 nm v 5 nm ca KBNN vi tng gi tr cho thu l
5.000 t ng t t l trng thu 98,12%. Li sut trng thu ln lt l
12,42%, 12,30% v 12,30%. y l mt mc li sut gim rt nhanh, gim n
40 v 35 im c bn (TP k hn 3 nm v 5 nm) so vi phin ca tun trc
mt ln na khng nh xu th h nhit ca mt bng li sut.

Th trng th cp h nhit. Trong tun ny ch c hn 14 triu TPCP c

chuyn nhng vi tng GTGD t hn 1.465 t ng, ch bng xp x 50% so
vi giao dch ca tun trc. TP k hn di 3 nm c giao dch nhiu nht
(chim ti 56,5% tng GTGD), tip theo l cc TP k hn trn 8 nm (chim
29,5%), v cc TP trung hn 3 5 nm (chim 13,9% tng GTGD). Giao dch
ca khi ngoi chim gn 17% tng GTGD. Li sut TPCP ngn hn v trung
hn gim mnh trong khi tng nh k hn di. ng cong li sut tip tc
c hnh dng dc xung, TP k hn ngn c li sut ln hn TP k hn di, tuy
nhin mc chnh lch gia li sut k hn ngn v di gim dn.

Xin mi c k khuyn co ti trang cui bo co ny

BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

HOT NG TH TRNG M

Tun th 8 lin tip NHNN ht rng trn OMO. Tun va qua l tun th 8 lin tip NHNN tin hnh ht
rng trn th trng OMO. Vic ht rng c thc hin ch yu trong 3 phin giao dch cui tun. Khi
lng ht rng trong tun va ri gim so vi tun trc nhng vn mc kh cao (14.000 t ng). Nh
vy, trong 2 thng tr li y, NHNN ht rng v gn 100.000 t ng trn th trng OMO. Con s ny
xp x vi lng tin NHNN bm ra ti cp vn cho mt s ngn hng (khong 70.000 t ng) cng
nh mua vo 1 t USD ci thin d tr ngoi hi (21.000 t ng). Chnh sch iu hnh cung tin mt
cch thn trng vn ang c NHNN duy tr m bo tng phng tin thanh ton trong nm 2011
mc 15-16% nh ch th ca Th tng Chnh ph.
Din bin th trng OMO tun t 13/06 n 17/06/2011

T ng

T ng
10000

8000

Hot ng bm (ht) vn rng qua OMO trong 4 tun

gn y

8000
4000

5000

23/05-27/05
3447

(5,000)

30/05-03/06
(2,737)

06/06-10/06

13/06-17/06

1415
0
13.06.2011

14.06.2011

15.06.2011

16.06.2011

17.06.2011

(10,000)

-5000
-5000

-5000

(15,000)

(14,138)

-7000

-10000
-11000

(20,000)

-11000

(17,668)
(20,334)

-15000
S ht v

S y ra

Khi lng bm rng

(25,000)

(Ngun: Reuters, BVSC)

LI SUT LIN NGN HNG

Li sut lin ngn hng n nh mc thp. Tun va qua l tun th 4 lin tip li sut lin ngn hng
c din bin tch cc. Hu nh li sut n nh mc thp tt c cc k hn: k hn qua m ph bin
mc 13-13,5%; k hn 1 tun t 14,5-15%; k hn 2 tun t 15-15,5%.

Li sut u thu TPCP gim- tn hiu i u cho mt bng li sut. Phin u thu TPCP mi y nht
(ngy 16/06/2011) tip tc cho thy s thnh cng khi hu ht khi lng gi thu bn ht vi mc li
sut gim kh mnh so vi phin u thu trc. C th, c 4.900 t ng TPCP ti cc k hn 2 nm, 3
nm v 5 nm c bn ht vi li sut trng thu gim mnh 0,4% xung mc 12,3%. iu ny tip tc
cng c nhn nh ca BVSC trong cc bn tin trc v vic li sut nhiu kh nng qua vng nh v
ang c chiu hng gim xung. Ngoi ra, vic c mt khi lng ln TPCP o hn trong thi gian gn
y ang to ra trng thi thanh khon tt cho mt s ngn hng v to p lc cc ngn hng ny c nhu
cu c cu tin vo cc t pht hnh TPCP mi. y l l do ch yu l gii cho s thnh cng lin tip ca
cc phin u thu gn y. Chng ti d bo vi lm pht gim dn trong cc thng ti, li sut u thu
TPCP ni ring v mt bng li sut ni chung c th s cn tip tc gim trong thi gian ti.

Xin mi c k khuyn co ti trang cui bo co ny

BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

TH TRNG NGOI HI

T gi tng t bin trong phin cui tun. Sng ngy 17/06, gi USD mua vo - bn ra theo biu nim
yt ca cc ngn hng thng mi ng lot tng mnh, ln mc cao nht trong gn hai thng qua. Gi USD
bn ra ca Ngn hng Thng mi C phn Ngoi thng Vit Nam (Vietcombank) mc 20.800 VND,
mc cao nht k t ngy 22/4/2011; mc gi mua vo cng ln 20.700 VND. So vi phin ngy 16/06, t
gi VND/USD ghi nhn mc tng l 100 VND - mc t bin trong thi gian gn y. Ti cc ngn hng
thng mi khc, gi USD mua vo - bn ra cng ph bin l 20.700 - 20.800 VND. y cng l ln u tin
sau khong mt thng qua t gi ca cc ngn hng thng mi cao hn mc t gi bnh qun lin ngn
hng.

Gi USD t do leo thang phin cui tun. Cng vi tng ca t gi trong h thng ngn hng, t gi
ngoi th trng t do cng c biu hin leo thang tr li khi t mc 20.730 VND/USD trong phin cui
tun, tng 130 ng so vi cc phin trc .
Hin chng ti cha xc nh c nguyn nhn khin t gi bt ng tng tr li nhng nhiu kh nng l do
thng tin tng trng tn dng bng ngoi t m NHNN cng b cho n ngy 10/06 t trn 22%. Con s
ny tng thm 3% so vi con s 18,9% m Thng c NHNN Nguyn Vn Giu cng b vo ngy 23/05.
Nu cc con s trn l thng nht v chun xc th chng cho thy tn dng ngoi t vn ang tip tc tng
kh nhanh bt chp vic NHNN tng t l DTBB i vi tin gi ngoi t trong thi gian gn y v iu
ny c th gy sc p gim gi VND trong thi gian ti. Tuy nhin, chng ti vn bo lu quan im t gi
s vn n nh trong ngn hn v s ch c th gp mt s ri ro nh s suy gim ca dng vn nc ngoi
hay cc hp ng tn dng ngoi t o hn vo thi im cui nm.
Din bin gi USD t do
VND/USD
20750
20700
20650
20600
20550
20500
20450
17/06/2011

16/06/2011

15/06/2011

14/06/2011

13/06/2011

12/06/2011

11/06/2011

10/06/2011

09/06/2011

08/06/2011

07/06/2011

06/06/2011

05/06/2011

04/06/2011

03/06/2011

02/06/2011

01/06/2011

20400

(Ngun: Reuters, BVSC)

Xin mi c k khuyn co ti trang cui bo co ny

BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

TH TRNG S CP
Kt qu u thu tri phiu Chnh ph trong thi gian gn y
GT
cho
thu (t
ng)

GT u
thu (t
ng)

GT
trng
thu (t
ng)

T l
trng
thu
(%)

LS u thu (%)

LS
trng
thu
(%)

S
V
tgia

Tn TCPH

K
hn
(nm)

02/06/2011

KBNN

1,000

5,050

1,000

100%

12.90 13.70

13.00

12

02/06/2011

KBNN

1,000

4,865

1,000

100%

12.90 15.20

13.00

14

07/06/2011

VDB

100

250

0%

12.80

12.90-13.20

12.80

07/06/2011

VDB

10

600

790

600

100%

12.20

12.10-13.00

12.20

09/06/2011

KBNN

1,500

8,995

1,500

100%

12.30-16.00

12.70

18

09/06/2011

KBNN

1,500

8,730

1,500

100%

12.50-13.49

12.65

16

10/06/2011

VDB

2,000

4,220

1,820

91%

12.50-13.20

12.70

10/06/2011

VDB

10

1,500

1,510

325

22%

11.90-13.50

12.00

10/06/2011

NHCSXH

1,500

1,500

1,500

100%

12.90-13.20

13.20

10/06/2011

NHCSXH

500

900

500

100%

12.70-13.50

13.10

16/06/2011

KBNN

2,000

3,205.8

1,906

95%

11.85-13.20

12.42

16/06/2011

KBNN

2,000

6,080

2,000

100%

11.80-13.00

12.30

15

16/06/2011

KBNN

1,000

4,954.5

1,000

100%

11.80-13.00

12.30

15

Ngy

LS trn
(%)

(Ngun: HNX, BVSC)

u thu TPCP ca KBNN tip tc thnh cng vi t l cao. Phin u thu TP k hn 2 nm, 3 nm
v 5 nm ca KBNN vi tng gi tr cho thu l 5.000 t ng t t l trng thu 98,12%. (1) Chng ti
cho rng lc cu t cc ngn hng l l do chnh khin th trng s cp tip tc si ng. S lng cc
n v tham gia rt ln, c phin ln ti 15 n v. T l u thu/cho thu i vi k hn 2 nm, 3 nm
v 5 nm ln lt l 160%, 304% v 495%. Thanh khon ca cc ngn hng tng i di do trong thi
gian gn y (li sut lin ngn hng lin tc n nh mc thp), mt lng ln TPCP s o hn trong
thi gian ti, cng vi vic room tn dng 20% nhm kim ch lm pht ti mt s ngn hng sp kch
trn v thi hn 30/6 cc NH gim d n tn dng phi sn xut xung 22% ang n gn u l nhng
l do khin cc ngn hng la chn mua vo tri phiu, l knh u t vi an ton cao, vi mc li sut
chp nhn c. Nhiu ngn hng ln c ngun tin t tri phiu o hn cng gim vic cho vay trn th
trng lin ngn hng, m tp trung vo th trng TP do e ngi ri ro. Bn cnh , mt s Qu u t v
Cty Chng khon cng c nhu cu u t TPCP trong thi im ny. Mt mt l b p cc khon TP
o hn. Mt khc l do h nhn thy xu hng gim ca li sut s c cng c trong thi gian ngn sp
ti, do vy, tranh th mua vo TPCP thi im hin nay vi chi ph thp v bn li trn th trng th
cp vi gi cao hn trong thi gian t 3 6 thng ti dng nh l mt quyt nh u t hiu qu. (2) Li
sut trng thu vi TP k hn 2 nm, 3 nm v 5 nm ln lt l 12,42%, 12,30% v 12,30%. y l mt
mc li sut gim rt nhanh, gim n 40 v 35 im c bn (TP k hn 3 nm v 5 nm) so vi phin ca
tun trc mt ln na khng nh xu th h nhit ca mt bng li sut.

D bo cc phin u thu trong thi gian ti. Chng ti cho rng cc phin u thu trong tun ti s
vn tip tc si ng do nhiu ngn hng vn cha mua lng TPCP theo k hoch. Cu TP qu ln
ca cc n v ny, cng vi ngun hng 3 5 nm rt khan him trn th trng th cp cng s khin
KBNN c l do hp l tip tc h li sut trng thu.

Xin mi c k khuyn co ti trang cui bo co ny

BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

TH TRNG TH CP
Tng hp giao dch Outright trn HNX trong tun
STT

Nhm
KH
(nm)

K hn
cn li
(nm)

1-3

0.8

1-3

M TP

TCPH

Coupon
(%)

Gi GD
(ng)

Tng
KLGD

Tng
GTGD
(t ng)

YTM
(%)

Ngy GD

Ngy PH

Ngy H

QHB1012015

23/03/2010

23/03/2012

VDB

12.1

98,490

500,000

50.633

14.1

14/06/2011

0.8

QHB1012020

12/04/2010

12/04/2012

VDB

11.8

98,208

1,000,000

100.271

14.1

14/06/2011

1-3

0.9

TB1012034

26/04/2010

26/04/2012

KBNN

11.3

98,264

500,000

49.904

13.5

14/06/2011

1-3

1.5

CPB071245

19/12/2007

19/12/2012

KBNN

8.65

94,230

750,000

73.854

13.0

15/06/2011

1-3

1.5

CPD071246

26/12/2007

26/12/2012

KBNN

8.65

94,157

263,150

25.844

13.0

14/06/2011

1-3

1.6

CPB0813005

17/01/2008

17/01/2013

KBNN

8.5

93,755

1,500,000

145.838

13.0

14/06/2011

1-3

1.6

VDB111006

28/01/2011

28/01/2013

VDB

11.2

96,938

1,000,000

101.142

13.3

13/06/2011

1-3

2.6

TD1114005

28/01/2011

28/01/2014

KBNN

11.1

97,504

300,000

30.529

12.2

16/06/2011

1-3

2.6

TD1114005

28/01/2011

28/01/2014

KBNN

11.1

106,895

500,000

55.530

8.0

13/06/2011

10

1-3

2.6

VDB111007

28/01/2011

28/01/2014

VDB

11.3

95,839

1,000,000

100.08

13.2

13/06/2011

11

1-3

2.7

VDB111016

11/02/2011

11/02/2014

VDB

11.3

107,453

850,000

94.572

8.0

13/06/2011

12

3-5

4.7

VDB111017

11/02/2011

11/02/2016

VDB

11.5

112,995

1,300,000

151.931

8.0

13/06/2011

13

3-5

4.9

TD1116026

9/05/2011

9/05/2016

KBNN

13.2

102,741

500,000

52.0555

12.4

15/06/2011

14

5 - 10

8.1

CP4_1004

30/07/2004

30/07/2019

VDB

87,404

1,000,000

95.27

11.5

13/06/2011

15

5 - 10

8.1

CP4A3104

30/07/2004

30/07/2019

VDB

87,404

1,000,000

95.27

11.5

13/06/2011

16

5 10

9.4

TP4A2705

21/10/2005

21/10/2020

VDB

9.25

87,605

740,000

69.254

11.5

13/06/2011

17

5 10

9.6

TP4A0206

20/01/2006

20/01/2021

VDB

9.25

87,405

1,900,000

173.052

11.5

13/06/2011

14,603,150

1,465.03

TNG CNG

(Ngun : HNX, BVSC)

GTGD tnh theo k hn
Di 3 nm

3 - 5 nm

5 - 10 nm

GTGD v KLGD theo tun

Tng GTGD (t ng)

Trn 10 nm

3,000
13/06 - 17/06

56.5%

Tng KLGD

30,000,000

2,741

29.5%

13.9%

2,500

25,000,000

2,087

2,000
06/06 - 10/06

1.4% 7.8%

47.6%

43.2%

20,000,000
1,465

1,500

15,000,000
1,000

1,000
30/05 - 03/06

27.2%

41.9%

30.9%

10,000,000

500

5,000,000

23/05 - 27/05

25.2%

74.8%

23/05 27/05

30/05 03/06

06/06 10/06

13/06 17/06

(Ngun: HNX, BVSC)

Xin mi c k khuyn co ti trang cui bo co ny

BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

Tng GTGD ton th trng v % GD ca nh TNN

80%
70%
60%
50%
40%
30%
20%
10%
0%

6,000
5,000
4,000
3,000
2,000
1,000

% GD nh u t nc ngoi

13/06-17/6

23/05-27/05

02/05-06/05

04/04-08/04

14/03-18/03

21/02-25/02

24/01-28/01

03/01-07/01

13/12-17/12

22/11-26/11

01/11-05/11

11/10-15/10

20/09-24/09

30/08-01/09

09/08-13/08

19/07-23/07

26/06-02/07

07/06-11/06

17/05-21/05

26/04-29/04

05/04-09/04

15/03-19/03

22/02-26/02

25/01-29/01

04/01-08/01

Tng gi tr giao dch (T ng)

(Ngun: HNX, BVSC)

Th trng th cp h nhit. Trong tun ny ch c hn 14 triu TPCP c chuyn nhng vi tng

GTGD t hn 1.465 t ng, ch bng xp x 50% so vi giao dch ca tun trc. TP k hn di 3 nm
c giao dch nhiu nht (chim ti 56,5% tng GTGD), tip theo l cc TP k hn trn 8 nm (chim
29,5%), v cc TP trung hn 3 5 nm (chim 13,9% tng GTGD). (1) Nhu cu v TP k hn 3 5 nm
vn rt ln, c bit khi cc ngn hng khng kp mua TPCP trn th trng s cp do li sut u thu
gim kh nhanh. Trong tun ny, c mt s n v cho bn loi hng ha ny trn th trng th cp.
Tuy nhin, do nh hng ca cc phin u thu gn y, mc li sut cho bn gim rt nhanh. Tnh
n cui tun ny, nhiu offers mc 11,8%, l mc m cc n v tham gia th trng s cp t thu
thp nht. (2) Nhu cu Repo ca cc ngn hng hin nay khng cn nhiu na do phn ln cc ngn hng
m bo c tnh trng thanh khon tt. Cc giao dch trong tun ch yu l giao dch Repo thanh ton
ln 2 ca nhng hp ng k kt t trc.

Giao dch ca khi ngoi chim gn 17% tng GTGD. Trong thi gian va qua, Chnh ph s dng
hng lot cc chnh sch nh nng t l d tr bt buc vi tin gi ngoi t, h trn li sut huy ng
ngoi t, nhm n nh th trng ngoi hi. Tuy nhin, t gi USD trn th trng t do t bin leo
thang cui tun ny khin cc nh TNN c nhng nghi ngi nht nh ca i vi th trng VN.
Li sut TPCP k hn 1
nm (%)

ng cong li sut ca TPCP (%)

14
14
13
13
12
12
11
11
10
10
9
8/02/2011

31/03/2011

29/04/2011

5/27/2011

3/06/2011

9/06/2011

Chnh lch kt thc tun

(%)

Tun

u
tun
(%)

Cui
tun
(%)

Chnh
lch
(%)

K
hn 13 nm
(%)

K hn
1-5
nm
(%)

K hn
1-10
nm
(%)

23/05-27/05

13.43

13.32

-0.11

-0.04

0.05

0.06

30/05-03/06

13.32

13.07

-0.26

-0.20

-0.15

0.00

06/06-10/06

13.06

12.92

-0.13

0.07

0.02

-0.06

13/06-17/06

12.92

12.64

-0.27

-0.60

-0.60

0.16

(Ngun: Reuters, BVSC)

Xin mi c k khuyn co ti trang cui bo co ny

BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

Li sut TPCP ngn hn v trung hn gim mnh trong khi tng nh k hn di. Li sut TPCP k
hn 1 nm, 3 nm v 5 nm gim trung bnh 27 im, 60 im v 60 im, TP k hn 10 nm tng nh 16
im. ng cong li sut tip tc c hnh dng dc xung, TP k hn ngn c li sut ln hn TP k hn
di, tuy nhin mc chnh lch gia li sut k hn ngn v di gim dn. Bc tranh lm pht c
phn ti sng hn khi m cc ba yu t lm nh hng ln n ch s CPI l nhm hng lng thc, thc
phm (tng 3% trong thng 5), nhm hng nh v vt liu xy dng (tng 3,1%), v nhm hng giao
thng (tng 2,67%) u ghi nhn chng nht nh trong thng ny. a phn cc mt hng lng
thc, thc phm trn th trng (ngoi tr mt hng tht ln tng gi kh nhiu do dch bnh) u ng
gi, thm ch gim nh so vi thng trc. Nhm hng nh v vt liu xy dng cng khng cn tng gi
na v phn ln cc d n bt ng sn cha th trin khai tip c do thiu vn khi m thi hn 30/06
cc ngn hng gim d n tn dng bt ng sn v chng khon xung di 22% ang n gn. Nhm
hng giao thng cng ang tm thi n nh do gi xng du bn l cha tng ngay. Mc d gi du th
gii hin ang c mc st gim kh mnh, v mc 95$/thng, cc Cty kinh doanh xng du bt u c li,
nhng trong thi im hin ti, Chnh ph vn u tin tng thu nhp khu v b sung vn cho Qu bnh
n gi. Do vy, cc nh u t c th tm yn tm khi t nht, gi xng du bn l s khng tng trong thi
gian ti. Bn cnh , vic t gi lin tc st gim trong thi gian gn y cng s c tc ng tch cc ti
gi c nhm hng nhp khu. Theo d bo ca chng ti, CPI thng 6 s tip tc gim tc v nhiu kh
nng s quanh mc 1%. Li sut TPCP s vn tip tc gim nh trong thi gian ti, do nh hng ca th
trng s cp. Tuy nhin, chng ti k vng li sut TPCP s gim vng chc vo cui Qu III/2011.
Bin ng li sut TPCP v CPI YoY
2010, 2011

Din bin CPI

%

21

3.5

25

19

17

2.5

15

20

15

1.5

10

13
11

0.5

1Y

3Y

5Y

10Y

CPI YoY (%)

0
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11

04.06.2011

04.05.2011

04.04.2011

04.03.2011

04.02.2011

04.01.2011

04.12.2010

04.11.2010

04.10.2010

04.09.2010

04.08.2010

04.07.2010

04.06.2010

04.05.2010

04.04.2010

04.03.2010

04.02.2010

04.01.2010

CPI MoM(lhs)

(Ngun : Reuters, GSO, BVSC)

Xin mi c k khuyn co ti trang cui bo co ny

BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

TRI PHIU DOANH NGHIP

VIC: Tnh n ngy 31/05/2011, 99,9 triu la M TPC (tng ng 99,9% tng gi tr t pht
hnh) c tri ch chuyn i thnh 31.260.357 c phn ca Cng ty (vi mc gi chuyn i iu
chnh sau khi Cng ty pha long c phiu thng qua vic tng vn v chia c phiu thng nm 2010). 100
ngn la M tri phiu cn li c Vincom thanh ton gc v li cho tri ch theo iu khon mua
li theo quyn chn ca Bn pht hnh, do lng chuyn i t trn 90%. Nh vy, ton b 100 triu
la M TPC pht hnh ngy 15/12/2009 ca Cng ty CP Vincom vi k hn 5 nm, li sut c nh
6%/nm hon tt vic thanh ton trc ngy o hn, cng ty khng cn khon n di hn ny.
HAG : pht hnh thnh cng TP ra th trng quc t. Theo , HAG thu v 90 triu la M t t
pht hnh tri phiu thnh cng ti th trng Singapore, v s tin ny s c u t ch yu cho cc d
n thy in v trng cao su ti Vit Nam v Lo. TP c k hn l 5 nm v mc li sut l 9,875%/nm.
Tin li s c thanh ton na nm mt ln, bt u ngy 20/11/2011 v kt thc vo ngy 20-5-2016. V
thi hn tr n, ng Sn cho bit HAGL s tr 20% vo nm th ba, 20% nm th t v 60% vo nm th
nm. Cng ty vn gi quyn mua li tri phiu sau 3 nm k t ngy hon tt t pht hnh.

T gi USD trn th trng t do t bin leo thang cui tun ny c th l mt trong nhng l do khin CDS k
hn 5 nm ca TPCP Vit Nam tip tc theo lang. Tnh n cui tun, CDS tng 3 im c bn so vi tun
trc, giao dch quanh mc 317 im.
CDS k hn 5 nm ca TPCP Vit Nam
410.00
390.00
370.00
350.00
330.00
310.00
290.00
270.00
250.00
230.00
6/4/2011

5/4/2011

4/4/2011

3/4/2011

2/4/2011

1/4/2011

12/4/2010

11/4/2010

10/4/2010

9/4/2010

8/4/2010

7/4/2010

6/4/2010

5/4/2010

4/4/2010

3/4/2010

2/4/2010

1/4/2010

210.00

(Ngun: Reuters, BVSC)

Xin mi c k khuyn co ti trang cui bo co ny

BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

TH TRNG TH GII
Li sut Tri phiu Chnh ph ca cc th trng ngy 17.06.2011 (%)
+/- so vi
tun
trc

2Y

+/- so vi
tun
trc

3Y

5Y

+/- so vi
tun
trc

+/- so vi
tun
trc

7Y

10Y

+/- so vi
tun
trc

+/- so vi
tun
trc

15Y

Vit Nam

12.36

-0.42

12.33

-0.46

12.32

-0.43

12.22

-0.22

12.04

-0.27

12.04

-0.28

Trung Quc

3.19

0.00

3.33

0.00

3.50

0.00

3.68

0.00

3.88

0.00

3.99

0.00

HongKong

0.479

0.06

0.79

0.13

1.46

0.10

2.04

0.15

2.44

0.17

2.74

0.14

Singapore

0.45

0.02

1.05

-0.01

2.30

0.02

2.67

0.02

2.91

0.01

Hn Quc

3.59

-0.02

3.62

0.04

3.89

0.01

4.25

-0.01

Nht Bn

0.171

-0.06

0.25

0.02

0.42

0.00

0.64

-0.02

1.12

-0.01

1.57

-0.02

Malaisia

3.21

0.01

3.50

0.01

3.93

-0.04

Philippin

4.60

0.08

5.13

0.01

5.53

0.10

5.95

0.00

6.55

0.08

Thi Lan

3.53

0.26

3.70

0.17

3.73

0.11

3.83

0.12

Indonesia

6.23

0.44

6.65

0.80

7.02

0.14

7.67

0.29

8.40

0.28

0.40

0.00

0.70

-0.01

1.54

-0.02

2.24

-0.02

2.95

-0.02

EU

1.50

-0.06

1.64

-0.07

2.15

-0.05

2.56

-0.04

2.95

-0.04

3.47

0.02

CDS k hn 5 nm 2010

Chnh lch li sut TP k hn 10 nm & 2 nm

350

450
400

300
350
300

250

250
200
200
150

150

100
100
50
0

50
0
-50
Vit Nam

Trung Quc

Indonesia

Thi Lan
-100
Vit Nam

Trung Quc

Philippin

Thi Lan

EU

(Ngun: Reuters, BVSC)

Xin mi c k khuyn co ti trang cui bo co ny

BN TIN TRI PHIU TUN S 24

Tun 13.06 17.06.2011

Khuyn co s dng

Tt c nhng thng tin nu trong bo co phn tch ny c xem xt cn trng, tuy nhin Cng ty C phn Chng khon
Bo Vit (BVSC) khng chu bt k trch nhim no i vi tnh chnh xc ca nhng thng tin c cp n trong bo
co. Mi quan im cng nh nhn nh phn tch trong bn tin cng c th c thay i m khng cn bo trc. Bo co
ch nhm mc tiu cung cp thng tin m khng hm khuyn co ngi c mua, bn hay nm gi chng khon. Ngi c
ch nn s dng bo co phn tch ny nh mt ngun thng tin tham kho.

BVSC c th c nhng hot ng hp tc kinh doanh vi cc i tng c cp n trong bo co. Ngi c cn lu

rng BVSC c th c nhng xung t li ch i vi cc nh u t khi thc hin bo co phn tch ny.
Bo co ny c bn quyn v l ti sn ca Cng ty C phn Chng khon Bo Vit (BVSC). Mi hnh vi sao chp, sa i,
in n m khng c s ng ca BVSC u tri lut. Bn quyn thuc Cng ty C phn Chng khon Bo Vit.

CNG TY C PHN CHNG KHON BO VIT

Tr s chnh: 8 L Thi T. qun Hon Kim. H Ni

Chi nhnh: Lu 8. 233 ng Khi. Qun 1. Tp. H Ch Minh

in thoi: (844) 3 928 8080 - Fax: (844) 3 928 9888

in thoi: (848) 3 914 6888 - Fax: (848) 3 914 7999

Chuyn vin phn tch v m:

Chu trch nhim ni dung:

Trn Hi Yn

ThS. Nguyn Th Hi Yn

tranhaiyen@baoviet.com.vn

Chuyn vin phn tch tri phiu:

ThS. Ng Minh Ha

ngominhhoa@baoviet.com.vn

nguyenthihai.yen@baoviet.com.vn