Saturday , July 13 2024

Domestic investors open less than 100,000 new accounts in first two months

Newly opened accounts in February increased by nearly 28,000 on-month to January, but they were still low compared to the average level of the past two years, according to data from the Vietnam Securities Depository (VSD).

In February, domestic retail investors opened 63,731 new accounts and institutional investors opened 133 new accounts.

In the first two months of the year, domestic investors opened a total of less than 100,000 new accounts. At the end of February, the total number of domestic retail investor accounts reached 6.94 million accounts.

After a surge from 2021 to the first half of 2022, the influx of new investors has slowed down significantly.

Liquidity, therefore, decreased gradually for the fourth month in a row. In February, the average matching value on the Ho Chi Minh Stock Exchange (HoSE) was only about VND8.6 trillion ($364.72 million)per session, down 10% month-on-month.

The figure continued to decline sharply to only about VND6.5 trillion per session since the beginning of March.

The drop in liquidity was partly due to a reduction in foreign investors’ transactions after a period of fast and strong buying. In February, foreign investors net sold VND640 billion on HoSE.

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