Number of newly opened securities accounts highest in 2 years, liquidity still 'scant'

Cash flow into the stock market is still cautious, many trading sessions are only over tens of thousands of billion VND - Photo: QUANG DINH

Newly opened securities accounts continue to increase sharply

According to data from the Vietnam Securities Depository (VSD), the number of newly opened securities accounts by the end of August reached more than 8.7 million, an increase of 331,205 accounts compared to the end of the previous month.

Of which, the group of domestic individual investors with the strongest increase is still when it increased by 330,819 accounts in August - the highest level in more than 2 years since June 2022.

Meanwhile, domestic institutional investors only increased by 121 accounts.

Notably, the group of foreign institutional investors has a decreasing trend, with only 4,558 accounts remaining at the end of August, while there were still 4,565 at the end of July.

Thus, in the first 8 months of the year, the number of domestic investors' securities accounts increased by more than 1.41 million accounts, to more than 8.7 million.

The above achieved figures are close to the target of 9 million accounts by 2025 and 11 million accounts by 2030, according to the Stock Market Development Strategy to 2030 approved by the Government.

Looking back at August, the stock market has recovered better in terms of points amid a gradually more positive context in Southeast Asian stock markets.

From a low base, the market increased again when external risk factors eased and some internal factors such as exchange rates also cooled down.

However, according to experts at Dragon Viet Securities (VDSC), the market increased sharply in the second half of August, but liquidity throughout the month did not improve.

According to VDSC, the increase in scores has not been widespread as the number of stocks in the group with reduced liquidity and decreased scores still accounts for the majority on the HoSE floor, reaching 45.64%.

The increase in securities accounts while liquidity is low shows that this investment channel is still chosen by many people. However, the gloomy situation when there is no large cash flow, many sessions of sharp decline without clear reasons make individual investors cautious, waiting and observing.

Will September be more positive?

VDSC experts expect that in September, the positive macro context and the removal of bottlenecks to meet the upgrading criteria according to FTSE Russell, if there is progress, will be catalysts to help the Vietnamese stock market maintain recovery momentum and return to an upward trend.

SSI Securities experts said that, looking back at historical data, September could be a good buying opportunity in anticipation of market growth returning in the last quarter of the year.

Factors favorable to the Vietnamese market are gradually becoming more evident than in the previous period, including continued economic recovery with supportive monetary and fiscal policies, more positive profit growth of listed companies in the second half of the year, along with expectations of a gradual return of foreign capital flows.

Based on SSI Research's watchlist, YoY profit growth could reach 21.7% in 2H2024; accelerating significantly from just 6.2% in 1H20.

However, another stock expert is concerned that the effects of super typhoon Yagi on the northern region, especially key economic zones such as Hai Phong, Hanoi, Quang Ninh, Thai Nguyen, etc., could cause concerns about the economic outlook in the last months of the year.

“In the context of low interest rates, cooling exchange rate risks, the Fed is about to lower interest rates… but the stock market has recently had very low liquidity with a prevailing cautious sentiment. Only a few groups of stocks of enterprises in the agricultural, steel, consumer goods sectors… have broken through,” the expert told Tuoi Tre Online.

Source: https://tuoitre.vn/so-luong-tai-khoan-chung-khoan-mo-moi-cao-nhat-2-nam-qua-thanh-khoan-van-leo-teo-20240911090543177.htm