The VN-Index ended the trading session on August 29 with a flat close, as buying and selling pressures remained relatively balanced. The market has been trending sideways since the beginning of the week, closing at 1,281.47 points, a meager gain of 0.03 points compared to the previous session.
The banking sector, which had provided support to the market during the morning session, saw a narrowing of gains in the afternoon, with several stocks in the group turning negative. The market is likely to continue this range-bound movement as buying momentum remains subdued and selling pressure persists across various sectors.
One positive development in recent times has been the consistent growth in new securities accounts in Vietnam. In July, the number of accounts reached 8.37 million, an increase of over 330,000 accounts compared to the previous month. Notably, a significant portion of these accounts belongs to overseas Vietnamese investors who are living, working, or studying abroad. Despite their physical distance, they remain closely engaged with and invested in the Vietnamese market.
Many overseas Vietnamese are investing in the domestic stock market. Illustrative image – Source: VGP
Mr. Manh, an investor based in Boryeong, South Korea, more than 3,000 kilometers away from Vietnam, shared that he has been investing in the Vietnamese stock market for about three years while working in the livestock industry for a decade.
Similarly, Mr. Hieu, a Vietnamese student in Canada, chose to invest in the VN-Index despite exploring the New York Stock Exchange. He believes in the potential of the Vietnamese market and expects it to be upgraded from a frontier to an emerging market soon.
“I have been living abroad for about seven years, and during this time, I have closely monitored the Vietnamese stock market. When the market is eventually upgraded, large financial institutions will pour in investments, presenting a significant opportunity for me and other young investors,” Mr. Hieu shared.
According to VTV’s research, numerous Vietnamese citizens living, studying, and working abroad are actively investing in Vietnam’s stock market. Their familiarity with the language and culture, coupled with their long-term faith in the VN-Index’s growth potential, drives their decision to support domestic businesses from afar.
Mr. Luu Chi Khang, Head of Proprietary Trading at Vietnam Construction Securities Company, shared his insights: “The fact that overseas Vietnamese are investing in our market demonstrates its enduring appeal. We are committed to supporting these investors by facilitating their trades and providing analytical reports to help them make informed decisions.”
Data from the Vietnam Securities Depository shows that over 1.1 million new securities accounts have been opened since the beginning of the year, including a notable increase in accounts from domestic investors residing abroad.
Vietnam’s Ministry of Finance is currently drafting amendments to the Securities Law, seeking input from affected parties. The proposed changes include revisions to the conditions for becoming a professional securities investor in private placements by public companies.
Specifically, for institutional investors, the draft adds a requirement that companies with a chartered capital of over VND 100 billion must have operated for a minimum of two years. For individual investors, there is now a mandate to have invested in securities for at least two years, with a minimum trading frequency of ten times per quarter over the last four quarters, and an annual income of at least VND 1 billion in the previous two years.
The Rise of Stock Market Investing Through E-Wallets: A New Era of Financial Opportunity
Many retail investors are now turning to stock trading via e-wallets with very small capital, and they’re even utilizing AI to help them “ride the waves” of the market.
The Stock Market Outlook Post-Holiday Season
“Caution prevailed ahead of the 2/9 holiday, resulting in a stagnant final trading week of August for the stock market. As the new month commenced post-holiday, expectations of a market upswing surfaced, buoyed by a plethora of supportive macro factors on both domestic and international fronts.”
“Breathable Exchange Rates: Stock Markets Overcoming the Fear”
The US dollar weakened significantly in August, falling below the 25,000 VND mark at one point. Forecasts for the exchange rate trend from now until the end of the year look positive. As a result, the stock market has shaken off its fears of exchange rate volatility, and expectations are high for it to surpass the previous peak of 1,300 points soon after the 2nd of September holiday.
Should You Invest in the Now ‘Unlocked’ Agricultural Land?
“In anticipation of the 2024 Land Law coming into force, a wave of savvy individual and group investors have been proactively acquiring agricultural land in Hanoi. With a keen eye for opportunity, these investors are poised to capitalize on the impending changes, making strategic moves ahead of the curve.”
“Be Wary of Personal Data Exposure When Shopping on Social Media”
The challenges of social media shopping are well-known to the E-Commerce and Digital Economy Department of the Ministry of Industry and Trade, with a particular focus on security and privacy concerns.
