Securities accounts in Vietnam hit 9.3 mln, 99% owned by locals

Nearly 9.3 million securities trading accounts had been opened in Vietnam as of end-2024, of which 9.2 million belonged to Vietnamese individuals.

Two million accounts were opened in 2024, according to the Vietnam Securities Depository and Clearing Corporation (VSDC). This meant an average of over 166,000 opened each month.

This was the second highest growth rate in the market history, only behind 2022 when VN-Index saw a strong uptrend, with a peak of more than 1,528 points.

Domestic institutional investors opened 1,502 accounts in 2024, raising their total to 17,737 accounts. The figure for foreign investors as of end-December 2024 was 47,780 accounts.

VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), closed 2024 at 1,266.78 points, an increase of 12.1% against the beginning of the year. The index had increased for two consecutive years. It rose by 12.2% in 2023.

However, the above increase did not fully reflect the fluctuations of the stock market in 2024. The rally momentum of VN-Index was mainly concentrated in the first quarter of the year when it far exceeded the 1,130 point area and approached the 1,300 point threshold. The index fluctuated at the threshold of 1,200-1,300 points for the rest of the year.

Market liquidity rose in the first half of 2024, following the index's increase, but then dropped to about VND15,000 billion ($591 million) per trading session during October-December.

The average daily transaction on the HoSE reached VND21,500 billion ($847.2 million), up about 23% over the same period of 2023.

In 2024, foreign investors net sold more than VND93,000 billion ($3.66 billion) across the market, a record number that far exceeded the record in 2021. On the HoSE alone, foreign investors net sold more than VND90,000 billion ($3.55 billion).