Stock trading accounts hit 10 mln in Vietnam

By Tuong Nhu, Kim Ngan
Sat, June 7, 2025 | 3:38 pm GMT+7

Vietnam recorded a large increase in the number of stock trading accounts in April and May, when the U.S. tariff turbulence caused strong market fluctuations.

An investor looks at price boards at a securities company in Vietnam. Photo by The Investor/Trong Hieu.

An investor looks at price boards at a securities company in Vietnam. Photo by The Investor/Trong Hieu.

Vietnam Securities Depository (VSD) data shows that 10,070,952 stock trading accounts had been opened as of May 31, 2025.

Of which, 10,004,372 were accounts of Vietnamese individuals, 18,173 of Vietnamese institutions, 43,738 of foreign individuals, and 4,669 of foreign institutions.

In May alone, the stock market added 190,852 accounts, a slight decrease compared to April but a milestone as it surpassed the total figure of the first three months of the year.

In Jan-May, the market saw an addition of nearly 773,000 accounts, of which 772,000 were opened by Vietnamese individuals.

The significant rise of accounts in April and May shows that when the market fluctuated sharply, it attracted a big number of people to open accounts to catch the recovery wave.

VN-Index in the first trading sessions of April plummeted from 1,320 points to 1,096 points after President Donald Trump announced his reciprocal tariff policy.

Then, along with the progress of negotiations between the parties, the index recovered strongly to 1,330 points, equivalent to an increase of more than 21% in two months.

Given such development, many investors have made significant profits if they opened accounts for bottom fishing in time and chose the right stocks.

The market still in an uptrend

Entering June, the market is adjusting around the 1,300 point threshold. Yuanta Securities assesses that the market is in a period of strong medium-term fluctuations, so the uptrend will continue in the coming trading weeks and there will be corrections when the index is falling into the "overbought zone".

Despite a strong recovery over the past two months, market valuations remain attractive, with VN-Index's TTM P/E (trailing twelve months price-to-earnings) at 13.1, lower than the 10-year average of 15.1.

At the same time, the gap between savings interest rates and VN-Index's TTM E/P (earnings yield) is -2.5%, nearly equal to the bottom of November 2022.

Therefore, there is still a lot of room for market price increases. The groups of industrial, consumer goods and information technology stocks have attractive valuations, while the banking, securities and real estate groups all have valuations lower than history with positive growth prospects.

Yuanta Securities recommends that investors consider taking profits and waiting to buy during the correction. Midcaps and smallcaps often have outstanding growth and high probability of growth in June for the pharmaceutical and medical, consumer services, public utilities, finance and banking sectors.

VDSC Research commented that the market is likely to continue developing favorably thanks to significantly strengthened investor sentiment. An important part comes from the fact that risks related to trade tensions have cooled down significantly.

The U.S. and China have reached "a temporary truce" after two days of talks in Geneva, bringing relief to global investors who were worried about the risk of a trade war and an economic recession.

At the same time, Vietnam has made significant progress in negotiations with the U.S., with many issues reaching consensus or approaching consensus.

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