MANILA, Philippines — Local stock market trading is no longer just the playground of the affluent as interest is cascading to lower-income and mostly younger Filipinos, thanks to the boom in online trading platforms during the prolonged pandemic.
For the third straight year, online stock market accounts outpaced traditional accounts in 2020, the year when the pandemic further accelerated migration to digital financial service platforms. These accounts represented 67 percent of total trading accounts in the Philippine Stock Exchange (PSE).
Online accounts surged by 19.7 percent to 936,200 while non-online accounts rose by a meager 3.3 percent to 460,553. In 2019, online accounts c…
Keep on reading: Young, lower-income Filipinos flock to stocks searching for better profits