Number of new securities accounts increased to 190,000 in August

Vietnam Securities Depository (VSD) has just announced statistical data showing that in August 2023, 188,298 new securities accounts were opened.

Compared to July, the number of newly opened accounts increased by 25%, equivalent to an increase of about 38,000 accounts. The number of newly opened securities accounts in August also reached the highest level in the past year.

The number of new stock accounts increased dramatically in August. Out of 100 Vietnamese people, only 8 play stocks. Image 1 — The number of newly opened securities accounts in August reached nearly 190,000 accounts, the highest in the past year (Photo TL)

Of the 188,298 newly opened securities accounts, 188,165 were for individual investors and 133 were for institutional investors. The total number of securities accounts at the end of August reached 7.6 million, equivalent to about 8% of Vietnam's population. Thus, it is estimated that out of every 100 Vietnamese people, 8 people participate in investing in the stock market.

In addition to the sharp increase in the number of newly opened accounts, market liquidity also improved. In which, the average trading value per session on HoSE exceeded VND22,000 billion/session, an increase of about 10% compared to the previous month.

The reason is explained by some experts as the impact of the continuous lowering of interest rates by the State Bank, causing interest rates to drop to the lowest level since 2020. This has made the use of margin more attractive to investors.

In addition, lowering interest rates also makes stock investment channels more attractive than at the beginning of 2023. Yuanta Securities has released statistics showing that nearly 500,000 billion VND of deposits are about to mature in the second half of 2023. If deposit interest rates remain low or fall further, this cash flow will tend to find other investment channels, including the stock market.

However, Yuanta Securities believes that only about 10% of the above deposits will be poured into the stock market by investors, equivalent to more than VND 49,600 billion. This amount of money is equivalent to about 2 trading days of the stock market.

Source