New securities trading accounts reach record high
A new investor (L) talks to employees at a brokerage firm in District 1, Ho Chi Minh City on January 13, 2021. Photo VnExpress / Quynh Tran.
The number of investors entering the stock market continues to grow with 113,875 new trading accounts opened in March, the highest monthly figure ever.
According to data from the Vietnam Securities Depository (VSD), this number broke the record of 86,017 transactions set in January.
The stock market saw nearly 258,000 new trading accounts opened in the first quarter, accounting for 65% of the number recorded in 2020 overall. This brings the total number of accounts to nearly 3.02 million last month, or 2.8% of Vietnam’s population.
SSI Securities Joint Stock Company said that the Vietnamese stock market has experienced a special quarter, touching the threshold of 1,200 points three times.
The market suffered its steepest drop in history on January 28 as a result of panic selling after new public news about Covid-19 was reported. The VN-Index on the Ho Chi Minh City Stock Exchange (HoSE) dropped 73.23 points, or 6.67%, to close at 1,023.94 points.
However, the market quickly recovered to 1,191.44 points at the end of March 31, up 7.93% from the beginning of the year.
With most banks capping deposit rates at around 5.6%, up from 7% at the start of 2020, investors have turned to stocks as a good income-generating alternative. than.
With the stock market exploding, individual investors are flocking to open trading accounts, many without any prior experience.
The government aims to have 3% of the population participate in the stock market by the end of this year and 5% by 2025 under the Securities and Insurance Market Restructuring Scheme, to be finalized in early 2019.
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