|
Locals registers all-time high number of securities accounts in H1
The total number of securities accounts in the country is estimated at over 3.39 million, or 3.5% of the population.
Local investors opened over 620,000 new securities accounts in the first half of this year, higher than the combined figure in the 2019-2020 period, with around 393,659 last year.
An investor at a securities company in Hanoi. Photo: The Hanoi Times
|
This came as a new record of securities account was set in June with 140,193, more than 26,500 compared to the previous month, stated the Vietnam Securities Depository (VSD) in a recent report.
The VSD noted out of the 140,193 new accounts in June, a lion’s share of 140,054 was from individual investors and 139 from organizations.
According to the VSD, the securities market continue to remain a preferred investment channel for local investors given the current low-interest-rate environment; tightening bond issuance from the corporate sector under government’s decree No.81 that raises standards for corporate bond issuance; Vietnam’s effective control of the pandemic and remains one of the fastest-growing economies in the world; attractive price-to-earnings (P/E) ratios of the Vn-Index compared to regional stock markets; the bright prospect of the market being upgraded to the emerging market status in the next two years; and limited investment options for locals.
Chart: Hai Yen
|
The strong capital inflows from domestic investors helped offset selling pressure from their foreign peers and took the Vn-Index to over the 1,400-mark for the first time in June with market liquidity of over US$1 billion in the majority of trading sessions in the past months.
During the January-June period, foreign investors net sold nearly VND30 trillion (US$1.3 billion) on the Ho Chi Minh City Stock Exchange (HoSE), almost double the net-sell amount for the whole of 2020.
Overall, the total number of securities accounts in the country is estimated at over 3.39 million, or 3.5% of the population.
Meanwhile, foreign investors opened another 277 securities account in June, 156 less than the previous month, raising the brokerage account number to 772 in the first six months.
Hanoi Times
|
