The number of accounts on the stock market exceeds 9 million, mainly individual investors.
According to statistics from Vietnam Securities Depository and Clearing Corporation (VSD), as of the end of October, the market recorded nearly 157,000 new accounts opened in a month. This number contributes to bringing the total number of accounts in the market to 9 million.
Domestic individual investors accounted for more than 8.9 million accounts, an increase of about 156,500 accounts. In the cumulative 10 months, the number of accounts of this group increased by 1.73 million, meaning an average of 173,000 new accounts opened each month.
It took the market 4 months to increase from 8 million to 9 million accounts. The speed of new openings is on par with the period of late 2021 and early 2022 – when the market is in a prolonged uptrend.
However, stocks are currently less positive. In the previous period, the VN-Index increased sharply to the price range of 1,500 points, liquidity “exploded” when regularly recording over billion USD, with some sessions exceeding 40,000 billion VND. At this time, stocks hover around 1,250-1,270 points, with liquidity below 20,000 billion VND for nearly 5 months.
Investors are trading shares at a securities company in District 1 (HCMC), October 2024. Image: An Khuong
In a recent report by Shinhan Securities (SSV), the analysis team said that waiting for the results of the US presidential election along with selling pressure from foreign investors caused the market to perform unfavorably in October. Liquidity decreased. decreased and blue-chip stocks were net sold.
Previously, SGI Capital – The Ballad Fund’s fund management company – commented that good macro information no longer had a positive impact on cash flow in the market. Foreign investors still maintain net selling whenever VN-Index approaches the 1,300 point area. In addition, the trend of shifting to real estate in the last two quarters has caused investors’ cash flow to withdraw from stocks through this channel.
However, the analysis team of Agribank Securities (Agriseco) sees liquidity in October as having improved, with total transaction value increasing by nearly 30% compared to the previous month. They predict that the market in November may continue its sideways trend but gradually move towards the 1,300 point area.
Saigon – Hanoi Securities (SHS) stated that the current price range is relatively reasonable, opening up short buying positions and accumulating good stocks. They advise investors with below average weight to consider and selectively disburse industry-leading stocks with good fundamentals.