Saturday , July 13 2024

New stock accounts in 2021 exceed previous four-year total

Vietnam’s stock market welcomed 1.53 new retail stock accounts last year, 1.5 times higher than the total of the previous four years, showing surging demand for the asset.

The country now has over 4.3 million retail stock accounts, or around 4.4 percent of the population.

Domestic retail investors were net buyers for all 12 months last year with a net purchase of VND93.08 trillion ($4.1 billion), according to financial data provider FiinGroup.

CEO of brokerage MBS Tran Hai Ha told a recent forum the number of new retail investors is set to reach a new height this year, and along with it a new peak for VN-Index.

“We are going to see an unprecedented number of new stock investors,” he said, adding he expects around 10 percent of the population to be stock investors this year.

Vietnam’s benchmark VN-Index is now trading at around 1,500 points, up nearly 24 percent from a year ago.

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