Over 150,000 new securities accounts opened in August

HCMC – August noticed a surge in inventory market entrants, with greater than 150,000 new securities buying and selling accounts opened, in keeping with the Vietnam Securities Depository and Clearing Company.

Monetary analysts attribute this rise to elements similar to a steep fall in deposit charges and 4 rate of interest cuts by the State Financial institution of Vietnam this yr, poor credit score demand within the first half of 2023, and the Authorities’s public funding enhance and expansionary fiscal coverage.

These elements have inspired traders to hunt various funding alternatives.

Information from VNDirect confirmed that, as of August 24, deposit charges for 12-month phrases at industrial banks had decreased to six% yearly, 1.9 proportion factors decrease than in December 2022.

In the meantime, lending charges have additionally decreased by 50 to 100 foundation factors since late 2022.

The securities brokerage expects lending charges to fall by 100 to 150 foundation factors within the fourth quarter because of the speedy decline in capital prices for industrial banks, doubtlessly indicating a restoration in consumption and funding.

The submit Over 150,000 new securities accounts opened in August appeared first on The Saigon Instances.

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