Online stock market accounts have outpaced their traditional counterparts as more investors prefer to invest in the local bourse through online channels.
Philippine Stock Exchange President and Chief Executive Officer Ramon Monzon said the exchange would continue to enhance online services as more investors prefer to invest in the stock market online.
Monzon said, “The preference for opening online accounts continues to rise since technology has made investing more accessible to investors. At the PSE, we also continue to enhance and develop online services that will benefit the investing public.”
Latest data from the PSE showed that online stock market accounts cornered 67 percent of the total accounts last year, the third consecutive year of outpacing non-online accounts.
The PSE data revealed online accounts increased by nearly 20 percent to 936,200 while non-online accounts went up by 3.3 percent to 460,553.