This is AI generated summarization, which may have errors. For context, always refer to the full article.MANILA, Philippines – There are now almost 2 million stock traders in the Philippines, bulk of whom comprise the middle class, as fintech giant GCash and its stock trading platform encouraged more people to invest.
In terms of classification, retail investors made up 98.5% of total accounts while the remaining 1.5% belonged to institutional investors. Retail accounts comprised 99.9% of total online accounts. The average value per trade in terms of total market transactions in 2023 was at P85,385, an increase of 9.6% from P77,926.Those earning less than P500,000 a year had the most number of online accounts, comprising 76.7% of total accounts, higher than the 72.9% registered in 2022.
The share of the above P1 million earners slipped from 13.6% to 11.4% for online accounts and from 20.9% to 14.7% for total accounts.Millennials and Gen X or those in the 30-44 age range continued to have the biggest share in online and total accounts, but their share slightly declined in 2023. They made up 49% of online accounts from 55.7% and comprised 45.6% of the total accounts from 49.8%.
The 45- to 59-year-olds saw a slight bump up to 18.6% from 18.4%, while retirees or those aged 60 and above jumped to 10.9% from 5%.More investors outside Manila
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: gmanews - 🏆 11. / 68 Read more »