The number of new domestic trading accounts on Vietnam’s two stock exchanges in Hanoi and Ho Chi Minh City reached some 187,800 last year, while the number of foreign investors opening new accounts on the two bourses was 3,920 - year-on-year declines of 26 per cent and 32 per cent, respectively, according to Vietnam Securities Depository (VSD).

The fall in newly-opened trading accounts reveals a lack of confidence among investors in Vietnam’s stock market during 2019.

Despite the benchmark VN-Index growing nearly 8 per cent, liquidity fell sharply.

The average daily trading value on the Ho Chi Minh Stock Exchange was VND4.13 trillion ($178 million), down 26 per cent year-on-year. The figure was VND408 billion ($17.6 million) on the Hanoi Stock Exchange, down nearly 48 per cent.