Beijing’s Market Rally Drives Young Investors to Open Accounts with Brokers
Market Rally Fuels Demand for Stock Trading Accounts
As the US$1.8 trillion stock rally continues in Hong Kong and mainland China, young investors are actively opening trading accounts with local brokers. Fear of missing out has led many to abandon online platforms, which are facing system overloads, and instead seek assistance from traditional brokerage firms.
Insights from the Industry
Tom Chan Pak-lam, an industry veteran, notes the increasing presence of young investors aged 20-30 at established brokerages. This shift highlights the changing landscape of stock trading in response to market conditions.
Record Highs and Investor Activity
The Hang Seng Index has surged significantly, bolstered by the US Federal Reserve's recent rate cuts and Beijing’s stimulus measures. Tiger Brokers reported a remarkable 73.4% increase in account openings last week, with a majority of new clients under 30. Nasdaq-listed Futu also experienced a notable surge in inquiries and trading volume this past week.
- Active Users: Tiger Brokers saw a 10% week-on-week rise in mobile app users.
- Major Stocks: Investor interest peaked in tech giants like Tencent, Meituan, Xiaomi, and Alibaba.
- Volume Trends: Both firms reported their highest turnover in two years as investors engage more actively with Hong Kong stocks.
This ongoing market rally suggests a potential for further growth as new investors flock to trading opportunities.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.