Stockbrokers need to do more online to attract younger investors
KUALA LUMPUR: Stockbrokers should make full use of the latest digital technology to boost younger Malaysian participation in the stock market, Finance Minister Lim Guan Eng said.
He said this younger generation of retail investors are demanding better service at lower cost.
“If you want to deal with the younger generation effectively, you have to deal with them online,” Lim said in his speech at the Bursa Excellence Awards 2018. Lim’s speech was delivered by Treasury deputy secretary-general (investment) Datuk Asri Hamidon.
He said in this regard, the recently-revised Guidelines on Exchange Traded Funds (ETFs) would allow a much wider range of products to be developed for people of varying risk appetites.
“ETFs are an attractive asset class providing investors with affordable diversification options in the capital market.
“It is a good entry product for new investors that is capable of not only encouraging greater public participation in the market, but also ensure that the wealth of the nation gets shared in a more equitable manner to a wider pool of people,” he said.
Lim said despite challenging sentiment in the second half of 2018, Malaysia recorded its highest average daily volume of RM2.4 billion whereby the two-year compound annual growth rate (CAGR) of 14.4% was the second highest within ASEAN.
The Bursa Excellence Awards 2018 was hosted by Bursa Malaysia to honour top performing brokers and market intermediaries who helped build the capital market across three segments, namely equities, derivatives and the Islamic capital market.
The event honours the top performing brokers and market intermediaries for the sixth year in a row. The event featured 18 award categories honouring participating organisations and individuals who helped build the capital market across three segments, namely equities, derivatives and the Islamic capital market.
UBS Securities Malaysia Sdn Bhd won the 2018 Best Online Institutional Participating Organisation, while CIMB Investment Bank bagged the 2018 Best Online Retail Participating Organisation.
Source : TheStar