Photo at Rong Viet Securities Company. Photo by VDSC.
Data from the Vietnam Securities Depository (VSD) show that local and foreign investors opened about 105,000 new securities accounts in May, which is more than four times as many as in April and is the highest level since September 2022.
Beginning in the middle of 2022, when the VN-Index quickly plummeted from its top of 1,500 points, investor interest in the stock market started to sharply decline.
Following the prosecution of two charges of stock market manipulation involving the chairman of FLC, Trinh Van Quyet, and the chairman of Louis Holdings, Do Thanh Nhan, by the Investigation Police Agency, the market fell.
With more than 450,000 accounts per month, the number of newly opened securities accounts reached its peak in May and June 2022 before steadily declining after that. This amount was less than 30,000 new accounts every month earlier this year.
Although it had not yet reached the pinnacle of the same period last year, interest returned in May at the same time that the market generally tended to be better in terms of indices and liquidity. The VN-Index gained 3.3% in May, ending the month with 1,075.17 points.
Analysts and the market anticipate that the State Bank’s and Government’s recent efforts will contribute to the economy’s ability to prosper once more.
