Tuesday , May 28 2024

New share trading accounts hit three-year low

Only 22,700 new securities trading accounts were opened in April, the lowest number since March 2020, as investors’ enthusiasm continued to decline in a flat market.

The number fell for a third month in a row, according to the Vietnam Securities Depository, which said on average over 40,000 accounts have been opened a month this year.

But a broad trend on decline in numbers began in mid-2022 as the VN-Index slumped from its peak of over 1,500 points following high-profile arrests for alleged stock manipulation including that of former FLC chairman Trinh Van Quyet.

In 2021, when the market was strong, 200,000-450,000 accounts were opened each month.

The average trade per session on the Ho Chi Minh Stock Exchange has dropped from over VND20 trillion ($852.06 million) then to VND10 trillion now.

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