Nearly 5% of Vietnam's population has securities accounts
Vietnam has achieved the milestone three years earlier than the Government’s target for 2025.
The number of new securities accounts opened in March was 271,619, lifting the total to nearly 5 million to date, according to the Vietnam Securities Depository (VSD).
|Investors at a securities company in Hanoi. Photo: Viet Dung|
With the country’s population estimated at 98.7 million as of April 4, the number of securities accounts per head has officially reached the 5%-mark, three years earlier than the target set by the Government for 2025.
“Given this current pace, the goal of having 10% of the population owning securities accounts by 2030 is feasible,” stated the VSD.
Upon breaking down, domestic retail investors made up 99.7% of the total new accounts, or 270,949. The number of securities accounts totaled 4.93 million by late March. Meanwhile, investment organizations opened 229 new accounts, or a total of 13,511.
The number of new accounts opened by foreign investors was 401 in March.
Along with the high number of new accounts, the market liquidity had improved significantly in March after sharp declines in the first two months of 2022.
The average transaction values in HNX, HoSE, and UpCOM in March rose by 14.5% against the beginning of the month and 61.2% year-on-year to VND31.5 trillion (US$1.37 billion) per session, in which the value of HoSE, home to the majority of large-caps, increased by 11.4% to VND26 trillion ($1.13 billion), and on HNX by 40.3% to VND3.61 trillion ($158 million).
In March, retail investors continued their dominant role in market transaction activity by making up 88.6% of the total, up 1.88% from the previous month, while that of foreign individuals and organizations remained on the declining trend.
General Director of MB Securities Company Tran Hai Ha in a recent conference expected the local stock market to stay a preferred investment channel, given the low-interest-rate environment, leading to a four-year low in people’s deposits in the banking system.
In addition, the advancement of technologies helps investors gain greater access to the stock market, which could be done via online accounts, transactions, or apps of securities companies.
- Vietnam c.bank reduces policy rates
- More female leaders needed in Vietnam’s banking sector: IFC
- Corporate bond issuers allowed extending maturity period by 2 years
- Hanoi mulls strategy to reform tax system until 2030
- VNZ, first stock in Vietnam, hits million-dong price
- Investors cautious in stock market in Year of the Cat
- Vn-Index set for steady growth in 2023
- Vietnam State Treasury to raise US$17 billion through Gov’t bonds in 2023
- Hanoi eyes comprehensive development in 2023: Mayor
- EU, Germany fund to enhance public financial management in Vietnam
Vietnam aims for five international-standard cities by 2045
Re-enacting an 80s and 90s style wedding in Hanoi's Old Quarter
Fascinating look at Hanoi in black and white photo collection
Travel enthusiasts flock to Hanoi Tourism Festival 2023
Effective public investment as a top political mission: PM
Hanoi named among Vietnam's most beautiful places
Hanoi among cities with most trees in the world
2023 - a year of high-quality startups in Vietnam
Vietnam 12th International Photo Contest winners announced