Hanoi (VNS/VNA) - Domestic investors opened 88,479new securities accounts in November, a slight decrease compared to the previousmonth, according to data from the Vietnam Securities Depository (VSD).

Of the estimate, individual investors opened 88,334 new accounts andinstitutional investors opened 145 new accounts. This was the lowest number ofnew accounts opened by domestic investors since February 2021 and the sixthconsecutive month of decline.

As of the end of November, the number of individual investor accounts in thecountry exceeded 6.74 million, or about 6.7% of the population. In the first 11months of this year, domestic individual investors have opened nearly 2.5million new accounts, far exceeding the figures of all four years of 2018,2019, 2020 and 2021 combined.

Although the number of new accounts opened by domestic investorscontinued to decline, market liquidity showed signs of recovery. According tostatistics, the average match order value on HoSE in November was 9.85 trillionVND, a slight increase of nearly 6% compared to the previous month. Theexcitement continued to be maintained until the early days of December, withthe matching value sometimes reaching the billion-dollar threshold.

The market continuously plummeted to a 2-year low in mid-November, causing thevaluation of a series of blue-chips stocks to become incredibly cheap, whichpartly stimulated bottom-fishing demand. The cash flow massively poured intothe market, especially from foreign investors, which is a significant drivingforce for Vietnamese stocks to rebound in November.

Last month, foreign investors net bought nearly 16 trillion VND via ordermatching channel on HoSE, a record number. The trend was still maintained inthe early days of December when foreign investors continued to net buy nearly 6.4trillion VND.

In November, foreign investors opened 216 new accounts, up 24% from theprevious month. This is the second month in a row that the number of newaccounts opened by foreign investors has increased. In terms of structure,individual investors opened 199 new accounts while institutional investorsopened 17 new accounts in November. As of November 30, 2022, foreign investorshad a total of 42,458 accounts.

Nguyen Duy Anh, head of Portfolio Management, Vietcombank Fund ManagementCompany, said that it is impossible to expect that cash flow can return asstrong as in the past 6 months to 1 year because during this period the depositinterest rates at banks have increased significantly compared to the previousperiod.

Huynh Minh Tuan, founder of FIDT Joint Stock Company, a securities expert, saidthe Government as well as businesses should work together to solve inadequaciessuch as bonds and real estate bonds to create confidence in the market.

Businesses must improve their financial management and pay more attention tothe complete and timely disclosure of information to investors, therebybuilding confidence among investors./.