The number of securities trading accounts hits a new high

0

By Dat Nguyen February 5, 2021 | 01:11 PT

A new investor (L) speaks to staff at a brokerage in District 1, Ho Chi Minh City, January 13, 2021. Photo by VnExpress/Quynh Tran.

The number of new investors entering the exchange continued to rise in January, with the number of new accounts reaching a monthly high of more than 86,200.

At nearly 4,000 accounts a day, the number jumped 36% from December, previously the best month in the country’s stock market’s 20-year history, according to data from the Vietnam Securities Depository.

There are now almost 2.86 million trading accounts in the market.

With most banks capping deposit interest rates at around 5.6%, down from 7% at the start of 2020, investors turned to equities.

The trend started last year when the benchmark VN index crashed in March after a major Covid-19 outbreak, but then recovered in the remaining months as the government imposed drastic measures to contain the pandemic and support economic growth.

Industry insiders said new investors helped the index climb to nearly 1,200 points in January before plunging below 1,000 on fears the latest outbreak in northern localities could hurt to the economy.

The average trading volume on the country’s three stock exchanges topped VND20 trillion ($862.07) in January, up from VND7.3 trillion in 2020.

Foreign investors opened 476 new accounts last month, the highest number since June 2018.

Share.

About Author

Comments are closed.