Vietnam’s stock market upgrade: A snapshot of investor account growth in June 2024
According to data from the Vietnam Securities Depository (VSD), domestic investor accounts witnessed a growth of 106,580 new accounts in June 2024, marking a decrease of 25,000 accounts compared to the previous month’s increase. This highlights a slight slowdown in account openings.
Delving into the breakdown, the majority of the increase in securities accounts in June originated from individual investors, with 106,417 new accounts. On the other hand, institutional investor accounts witnessed a more modest growth of 163 new accounts.
Year-to-date, the number of domestic securities accounts has surged by over 750,000. As of the end of May, the total number of domestic securities accounts stood at approximately 8 million, the highest ever recorded. Among these, individual investors held more than 7.98 million accounts, equivalent to 8% of the country’s population.
Vietnam’s ambitious goals for securities accounts by 2025 and 2030
The newly approved Vietnam Stock Market Development Strategy, targeting the year 2030, sets ambitious goals. By 2025, Vietnam aims to reach 9 million securities trading accounts, with this number climbing to 11 million by 2030. To achieve these milestones, the government is focused on fostering the growth of institutional and professional investors, as well as attracting foreign investor participation.
The slowdown in account openings coincides with the stock market facing challenges around the strong resistance level of 1,300 points. The VN-Index concluded June with a 1.3% decline, primarily supported by domestic investment flows while foreign investors persistently offloaded holdings.
In June, foreign investors broke records once more, selling a net amount of nearly VND 16,600 billion on HoSE alone. This trend has continued into the first days of July, albeit at a slightly reduced pace. Year-to-date, foreign investors have net sold a total of VND 54,000 billion (USD 2 billion) on HoSE.
Foreign investor accounts continue to grow despite net selling
Despite the consistent net selling by foreign investors, the number of foreign investor accounts in Vietnam has steadily increased month after month. Specifically, the number of accounts rose by 185 in June, slightly lower than the 210 new accounts added in May. This included an increase of 168 individual accounts and 17 institutional accounts. The total number of foreign investor accounts now stands at 46,532.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
