Securities firms see more account closures than openings
Securities firms see more account closures than openings
In November 2023, individual investors opened close to 150,000 securities accounts, but more than 340,000 accounts were closed due to their inactivity for a long period of time.
As of the end of November, stock accounts held by individual Vietnamese investors totalled around 7.2 million, but the number of accounts closed reached 341,393.
In October, the total number of accounts closed was 545,386. Among them, 545,326 accounts were closed by individual investors, and 39 accounts were closed by institutions.
The number of investors' securities trading accounts decreased from 7.8 million to 7.25 million. According to the Vietnam Securities Depository and Clearing Corporation, the accounts closed were mainly held by individual investors. They have been inactive accounts for a long time, so securities firms need to filter to remove 'virtual' accounts. In addition, the decrease in the number of securities trading accounts is also attributed to the State Securities Commission's activities to clean up securities' data.
Among the 148,592 newly opened securities accounts in November, major securities firms account for a large proportion. VNDIRECT made up over 10 per cent of the total newly opened securities accounts, with 15,000 accounts.
JB Securities Vietnam (JBSV) recorded 12,000 new securities accounts in November, making up 8.1 per cent of the newly opened accounts.
This surge in the number of newly opened accounts followed the official launch of JBSV's Finavi application in October, which had many new features and attractive incentives.
Domestic organisations opened 160 new accounts last month, bringing the total number of accounts to 16,045. Meanwhile, the number of newly opened accounts by domestic individual investors was 148,000.
Among them, securities firms recorded a slight increase in new securities accounts. Foreign investors registered 274 new accounts last month. Individual investors and organisations registered 244 and 30 new accounts, respectively. At the end of November, foreign investors had 45,196 accounts in total.
In November, the VN-Index climbed 6.41 per cent from a month earlier and 8.64 per cent against late 2022.
Market liquidity gradually recovered as the average trading value of the three bourses jumped 17 per cent on-month, with over VND19 billion ($782,699) per session.
The average trading value on the Ho Chi Minh Stock Exchange and the Hanoi Stock Exchange reached $682.6 million and $82.4 million per session in November, up 19.3 per cent and 9.8 per cent on-month, respectively.
Meanwhile, the value of each session on the Unlisted Public Company Market reached $24.14 million, down almost 12 per cent from the previous month.
