Despite the stock market correction for more than 4 consecutive weeks, the number of investors opening new securities accounts has increased dramatically.
Vietnam Securities Depository and Clearing Corporation (VSDC) has just announced the number of securities trading accounts of domestic and foreign investors in July 2024.
Statistics by the end of July 2024 showed that the country had more than 8.32 million domestic securities trading accounts, of which individual investors accounted for more than 8.31 million accounts; institutional investors accounted for more than 17,100 accounts.
Foreign investors' securities accounts are just over 46,700, of which individuals are over 42,000 accounts and organizations are just over 4,500 accounts.
Compared to June, the stock market had more than 300,000 new accounts opened by domestic individual investors. This is a sudden increase in recent months, 3 times higher than the previous month.
This information is surprising in the context of the VN-Index having a series of declines for 4 consecutive weeks. Specifically, if including the session of nearly 50 points decrease on August 5, this index has decreased by more than 100 points, from the peak of nearly 1,300 points to 1,888 points.
At the end of the trading session on August 7, VN-Index increased slightly by 5.6 points to 1,215 points with low liquidity, when the transaction value on HoSE was just over VND14,000 billion. Foreign investors continued to "dump" more than VND1,400 billion on the market, mainly focusing on VHM code. If calculated from the beginning of the year until now, foreign investors have net sold more than VND60,000 billion.
Although the market has declined in the past 2 months, economic expert Dr. Dinh The Hien said that in the first half of 2024, the rate of return on stock investment will be around 11%, still much higher than other investment channels such as gold, real estate, foreign currency, etc.
The recent market correction is not too worrying, especially in the context of the market increasing strongly in the first quarter of 2024 and the net selling pressure of foreign investors is still continuous.
Source: CafeF
