According to data from Vietnam Securities Depository and Clearing Corporation (VSD), in August, investors opened about 229,400 new securities accounts. Thus, accumulated from the beginning of the year, the number of newly opened accounts has reached about 2 million units, marking the 4th time in market history to reach this milestone.
As of August 31, the Vietnamese stock market recorded nearly 13.9 million accounts, equivalent to 13.6% of the country's population. This figure exceeds the Government's target of having 11 million accounts in the market by 2030.
Domestic individual investors account for 99% of nearly 13.9 million securities accounts. Domestic and foreign organizations only own about 25,191 accounts, equivalent to 0.18%. The rest belong to foreign individual investors.
Regarding market size, as of August 28, 2026, the market capitalization of shares on HOSE reached more than 8.84 million billion VND, an increase of 7.55% compared to the previous month, equivalent to 68.84% of GDP in 2025 and accounting for 94.89% of the total listed market capitalization.
The market currently records 52 enterprises with capitalization exceeding 1 billion USD, of which 4 leading enterprises with capitalization over 10 billion USD include Vingroup (VIC) reaching 1,831,876 billion VND, Vinhomes (VHM) at 599,682 billion VND; and two banks Vietcombank (VCB) and BIDV (BID) at 502,176 billion VND and 286,629 billion VND respectively.
The number of newly opened accounts continued to increase sharply in the first 8 months of this year in the context that the market was officially upgraded by FTSE Russell from September 21. However, liquidity has not yet shown an improvement commensurate with the market recovery momentum.
The average trading value per session in August reached about 18.7 trillion VND, significantly lower than the average of 26.9 trillion VND in the first 8 months of the year and 28.9 trillion VND in 2025.
This development shows that the recent recovery mainly came from reduced selling pressure, instead of strong enough demand to absorb the supply in the market. This is also a factor that needs to be monitored in September.
One of the reasons putting pressure on the Vietnamese stock market recently is the increase in interest rates, causing a part of investors to reduce their stock holdings. At the same time, inflation expectations and the liquidity of the economy still face many challenges, partly due to the very large capital demand for new infrastructure investment projects.
The market still expects the State Bank to maintain growth support policies, while encouraging banks to reduce lending interest rates for priority sectors. However, the room for easing is no longer too large because mobilization costs and liquidity pressure are still high.
This shows that lending interest rates may be reduced selectively, but it is difficult to form a strong interest rate reduction cycle on a large scale. Therefore, the diễn biến of exchange rates, interbank interest rates and liquidity regulation activities of the State Bank will directly affect the psychology as well as the scale of leverage use of investors.
Vietnam officially entering the FTSE upgrade roadmap from September 21. This is a structural change, helping to expand the accessibility of international investment funds and improve the position of the Vietnamese capital market. However, it should not be expected that the entire capital flow will be disbursed immediately. The fact that 27 stocks are included in FTSE All-Cap does not mean that all 27 codes receive equivalent demand. The actual capital scale also depends on capitalization, liquidity and the ability to meet investment conditions of each enterprise. Therefore, upgrades will create a positive effect on medium-term sentiment and capital flows.
