Retail investors’ stock accounts go past 5 mln milestone

Over 230,000 new accounts were opened in April, the second highest monthly figure ever, though the VN-Index was heading downward.

The number of retail accounts was equivalent to 5.24 percent of the country’s population at the end of last year, according to the General Statistics Office.

The government targeted having 5 percent of the population investing in stocks by 2025. In Thailand, the figure is 8 percent while in Taiwan it is 93 percent.

Stock brokerages said over the last year retail investors had the greatest impact on the stock market by accounting for over 80 percent of trading.

But they ended four consecutive months of buying by selling VND4.68 trillion worth of stocks last month, with institutional investors taking up the slack.

RongViet Securities Corporation expects retail investors to start buying again this month as most companies have released their earning figures.

The VN-Index has lost nearly 14 percent this year.