New stock accounts in Vietnam hit five-month low
The number of new stock accounts opened in Vietnam reached only 135,457 in November, the lowest level in five months, according to the Vietnam Securities Depository (VSD).
This figure represented a significant drop from previous months: 156,689 in October, 158,302 in September, 330,950 in August, and 329,836 in July.
Of the new accounts, 65,188 were opened by individual domestic investors and 107 by domestic organizations.

The decline in new account openings in November 2024 was derived from the stock market's significant volatility. Photo by The Investor/Trong Hieu.
As of end-November, the total number of stock accounts held by domestic investors had reached nearly 9.2 million, an increase of 1.86 million since the start of 2024. Domestic investors now account for 98.52% of all stock accounts in Vietnam.
The decline in new account openings was derived from the stock market's significant volatility during November.
According to data from the Ho Chi Minh Stock Exchange (HoSE), the VN-Index closed at 1,250.46 points on November 30, down 1.11% compared to the end of October. Other indices, such as VNAllshare and VN30, also saw slight declines of 1.69% and 2.04%, respectively.
In terms of market liquidity, the HoSE reported an average daily trading volume of over 545 million shares and a daily value of approximately VND14.16 trillion ($557.7 million). These figures reflected a decrease of 12.82% and 11.25% compared to October, respectively.
Foreign investor activity remained subdued last month. HoSE data showed that the total transaction value of foreign investors amounted to VND69.54 trillion ($2.74 billion) in November, or just 11.69% of total market turnover.
Foreign investors were net sellers on the major bourse, offloading shares worth over VND11.88 trillion ($467.9 million).
Outlook for December: Optimism amid market volatility
Looking ahead to December, Dinh Quang Hinh, head of macro & market strategy at VNDirect Securities, is upbeat about the market's potential for recovery.
He expects the VN-Index to stabilize and possibly rebound as risks related to the exchange rate and short-term liquidity pressures ease.
This outlook is based on the expectation that the U.S. Federal Reserve will continue its rate-cutting cycle in December, along with a projected improvement in domestic USD supply toward the end of the year.
Hinh also pointed out that the ongoing positive trend in foreign direct investment (FDI) disbursements and increased remittances to Vietnam in the final months of the year will help ease pressure on the exchange rate.
This, in turn, is expected to allow the State Bank of Vietnam to focus on enhancing liquidity and boosting credit growth, aiming for a 15% credit growth this year.
"If credit growth reaches its target and capital inflows into the economy increase, it will be a significant boost for the stock market in December and early next year," he said.
Hinh advised investors to take advantage of any market corrections to build their portfolios for 2025, with a particular focus on sectors likely to report strong earnings in the fourth quarter, such as technology, logistics, textiles, seafood, and banking.
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