New securities accounts hit five-month low

By Dat Nguyen August 5, 2021 | 01:24 am PT

An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.

The number of new securities accounts in July hit a five-month low of over 101,000 as mobility restrictions were imposed across major cities.

This is a drop of 28 percent from June but still triple the monthly average last year, according to data from the Vietnam Securities Depository (VSD).

In the first seven months, nearly 721,000 new accounts were opened, which is higher than 2020 and 2019 combined.

Surging numbers of Covid-19 cases in July and strict social distancing in Hanoi and Ho Chi Minh City has stirred fear among investors and brought the benchmark VN-Index down by over 12 percent in July.

The index is now recovering on the back of ninth consecutive gaining sessions as of Thursday.