KUALA LUMPUR, July 28 -- Korea’s fintech company, Dunamu has announced that mobile trades for Stockplus, the company’s social stock trading platform, more than doubled in the first half of 2020.
The result shows increases by 117.5 per cent compared to the same period last year. The total trading volume for Stockplus surpassed KRW 100 trillion (approximately US$83.2 billion) in July. (US$1 = RM4.245)
“COVID-19’s impact on the stock market and high-profile IPOs like SK Biopharmaceuticals has attracted a number of new individual investors, who tend to prefer mobile trading platforms,” said Dunamu Global Communications Manager, Buster Suh.
“Stockplus’ trading volume has grown rapidly in July and we expect the trend to continue for the foreseeable future.”
With mobile trading systems continuing to gain popularity in South Korea, Stockplus has seen a surge in transactions, according to a statement.
The platform’s mobile trading volume for the first half of 2020 was KRW 24.4 trillion (approximately US$20 billion), which is nearly KRW one trillion higher than the total for the entire year of 2019.
In addition to topping KRW 100 trillion in total trading volume, Stockplus also has over four million total app downloads as of July 2020. It was launched in 2014 as South Korea’s first social stock trading platform.
-- BERNAMA
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