According to data from the Vietnam Securities Depository (VSD), as of the end of October, Vietnam had more than 7.4 million securities trading accounts. Of which, the number of accounts of domestic individual investors still accounted for the largest proportion with more than 7.38 million units. Notably, compared to the end of September, the number of securities accounts of individual investors decreased by 378,137 accounts. This is unprecedented in the Vietnamese stock market.
Nearly 380,000 individual securities accounts were closed in October.
In contrast to the number of domestic individual investors, all three groups of domestic institutional investors, individuals and foreign institutions opened more accounts last month. Specifically, the number of domestic institutional investor accounts currently reaches 15,885 accounts and the number of foreign securities accounts reaches 44,952 accounts, 164 and 246 accounts higher than the end of September, respectively.
The number of closed Vietnamese securities accounts in October was higher than the number of new openings in the previous two months of August and September. The decline in the number of first-time reported trading accounts occurred in the context of negative developments in the stock market. According to statistics, the VN-Index fell nearly 11% in October alone and is close to the score at the beginning of 2023.
At the same time, the closure of the number of securities accounts may also be related to the Government's request in October for the State Securities Commission to connect with the national database on population to clean up data of securities trading participants. Cleaning up user data will be a process of comparing information to ensure consistency and eliminating incorrect, duplicate or virtual data, which must be completed in November...
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