Vietnam's stock market just set a new record

The Vietnamese stock market has recorded over 10 million securities accounts. Of which, individual investors account for 99.4% of this number.

VN-Index increased positively in May, leading to a significant increase in the number of new account openings - Photo: QUANG DINH

According to data from the Vietnam Securities Depository (VSD), by the end of May 2025, the total number of accounts on the stock market had exceeded 10.07 million accounts, equivalent to about 10% of the population.

This is a record milestone, reflecting the increasing popularity of the financial market in the community. Accounting for 99.4% of the above figure are domestic individual investor accounts (which have also surpassed the 10 million mark).

In May alone, individual investors opened 190,634 new accounts compared to the previous month. In the first 5 months of the year, the market recorded more than 800,000 new accounts.

Meanwhile, domestic and foreign institutional investor accounts also increased after 5 months, but at a modest level, not meeting expectations.

According to the Government 's market development project, the target is to reach 11 million securities accounts by 2030. With the good growth rate in recent times, the target set for the market is expected to come sooner.

However, in addition to expanding the quantity, the focus in the coming period is still on improving the quality of investors, promoting the development of institutional investors and professional investors, and at the same time increasing the attraction of foreign capital flows.

Notably, the 10 million account milestone was set in the context of positive developments in the domestic stock market.

At the end of the trading session in May 2025, the VN-Index reached 1,332.60 points, VNAllshare reached 1,375.27 points and VN30 reached 1,423.68 points.

In May 2025, these three indexes all recorded increases with increases of 8.67%, 7.66% and 8.70% respectively.

The VN-Index alone - the index representing Vietnam's largest stock exchange - increased sharply in May with 106 points, the highest monthly level in the past two years.

Market liquidity also improved significantly, with an average trading volume of more than 924 million shares/day and an average trading value of more than VND21,656 billion/day in May.

This is considered a positive signal showing that investor sentiment is gradually stabilizing again, after a prolonged adjustment period in 2022 and 2023.

Stocks likely to hit 1,500 this year?

In the June strategy report, VNDirect's analysis team pointed out that VN-Index increased strongly thanks to Vingroup stocks.

In terms of industry, real estate led with an increase of 17.7% compared to the previous month, notably VHM (+13%) and VIC (+33%). Previously, VPL shares were also successfully listed, increasing 20% ​​on the first trading day (May 13).

According to VNDirect, the current market P/E valuation is around 12.9 times, still attractive with a 16% discount compared to the 10-year average. In the short term, the market may need time to accumulate to absorb supply and establish a new price level.

This is an opportunity to restructure the portfolio, shifting from stocks that have increased strongly to attractively priced groups such as securities, steel, textiles and seafood - industries that may be supported in the coming time.

There are many different forecasts for 2025, but VNDiect believes that the base scenario expects the VN-Index to reach 1,400 points. If the tax negotiations with the US are favorable or interest rates are cut sharply, the index could surpass the 1,500 point mark.

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BINH KHANH

Source: https://tuoitre.vn/thi-truong-chung-khoan-viet-nam-vua-lap-mot-ky-luc-moi-2025060620370999.htm