New securities accounts rise for 6 straight months to hit record high

The number of securities accounts registered in Vietnam hit a record high of 7.94 million as of end-May, according to the Vietnam Securities Depository.

Of the sum, 7.87 million accounts were opened by Vietnamese individual investors, or 99.11%. Foreign individual and institutional investors held 41,812 and 4,535 accounts, respectively.

In May, Vietnam logged 132,220 new securities accounts, averaging 4,265 new accounts daily and marking an increase for six consecutive months. Among them, 132,010 were opened by domestic retail investors.

This record number of accounts coincides with Vietnam’s benchmark VN-Index, which tracks the Ho Chi Minh Stock Exchange (HoSE), reaching its highest level since August 2022.

In May, the VN-Index jumped 4.3% to 1,280 points. Since early this year, the market has surged 11.7%, nearly matching the growth recorded for the entire previous year.

The entry of new traders has helped maintain HoSE liquidity at a high level. Since March, the total transaction value of each session has crossed VND20 trillion ($786.47 million), sometimes even topping VND40 trillion.

The substantial number of domestic players has offset the significant amount of net selling by foreign investors.

This year, many experts regard stocks as an attractive investment channel, citing the economic recovery and improved corporate profits.

In the mid-term, analysts from Saigon-Hanoi Securities JSC (SHS) anticipate that VN-Index may hover between 1,180 points and 1,300 points. Specifically, 1,200 points represents the highest price level seen in 2018, while 1,300-1,320 points reflects the peak levels of June and August 2022.