Newly opened securities accounts exceed 100,000 threshold

For the first time since September 2022, the number of newly opened securities accounts per month exceeded 100,000, more than 4 times the previous month.

According to data from the Vietnam Securities Depository (VSD), domestic and foreign investors registered nearly 105,000 new securities accounts in May - the highest level since September 2022 and more than four times the size of new accounts opened last month.

Investor interest in the stock market began to decline sharply from mid-2022, when the VN-Index fell far below the 1,500-point peak. The market decline occurred after the Investigation Police Agency initiated two cases of stock market manipulation against FLC Chairman Trinh Van Quyet and Louis Holdings Chairman Do Thanh Nhan.

The number of newly opened securities accounts peaked in May-June 2022 at more than 450,000 accounts per month, and then steadily declined. Earlier this year, the number was down to less than 30,000 new accounts per month.

Interest returned in May at the same time as the market tended to improve, in terms of indexes and liquidity, although it had not reached the peak of the same period last year. In May, the VN-Index increased by 3.3%, closing the month at 1,075.17 points.

Analysts and the market are hopeful that recent moves by the Government and the State Bank can help the economic picture improve again.

According to VCBS, the State Bank continues to reaffirm its monetary policy in response to the actual context. In recent months, with the goal of stabilizing the exchange rate when inflation shows signs of slowing down, the State Bank has reduced operating interest rates three times, bringing the average interest rate for new loans down by about 0.9% compared to the end of 2021. Therefore, this analysis group expects that lending interest rates have room to decrease further, although with a certain delay.

Minh Son

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