KUALA LUMPUR – Millennials aged between 26 and 40 comprise 68% of those who used online investment platforms last year, according to Rakuten Insight Malaysia’s survey.
In a statement today, the company said that among digital retail investors who chose to trade in equities, the highest volume of trading activity was reported by 26 to 30-year-olds.
Country director Collin Leow said the economy during the pandemic's saw investing and saving habits changing out of necessity and due to the accessibility of technology.
“While the survey set out to discover more about the rise of the younger digital investor in the new norm, a surprising find was that digital investing was not primarily the domain of millennials, with 32% comprising those in their 40s and 50s.
“We also saw that investment opportunities providing long-term growth (45%) and short-term returns (18%) gained more popularity among investors last year,” he said.
He added that preference for equities investment saw an increase of 47%, while unit trust and mutual funds rose by 29.28%.
Rakuten Insight also reported an upward trend in online trading activity among existing traders with 44% more digital retail investors increasing their trading activity during the movement restriction periods. – Bernama, April 23, 2021
