May witnessed a remarkable surge in fresh securities trading accounts, with their count quadrupling compared to the previous month
According to the Vietnam Securities Depository, a staggering figure of approximately 105,000 stock trading accounts were initiated during this period, marking the highest influx since September of the preceding year and a fourfold increase from April's statistics.
This notable development not only signifies a substantial growth but also represents the first instance since September that the monthly tally of newly created accounts has surpassed the remarkable threshold of 100,000. This surge in investor participation has been accompanied by positive market performance, as the VN-Index experienced a notable 3.3% increase in May, culminating at an impressive 1,075.17 points.
The renewed investor confidence can be attributed to the recent efforts by the State Bank of Vietnam, which has implemented three successive interest rate reductions. These measures have contributed to a more favorable investment climate, prompting investors to actively engage in the securities market. Encouragingly, Vietcombank Securities Company anticipates a further decline in interest rates, which is expected to bolster market sentiment even more.
It is worth noting that the number of new securities accounts established in May has reached an unprecedented high, surpassing the remarkable figures recorded in both May and June of the previous year, when a staggering 450,000 accounts were opened. Unfortunately, this promising trend was followed by a relentless decline.
