(Bloomberg) – The growing retail hype has rocked many stocks this year, from the most abbreviated U.S. names to anything silver-related. Outside of the chat rooms, however, there is another winner: online brokerage stocks.
Shenzhen-based Futu Holdings Ltd. is already up 156% this year, and Singapore-listed iFast Corp has more than doubled. In South Korea, Kiwoom Securities Co. is up more than 18%. The moves have hurt the performance of a Bloomberg index of the area’s institutional brokerage firms, which rose only 1% over the same period.
The strong performance of this market pocket is due to a rapid increase in the number of young retail investors. More than 50% of Futu’s new users are from the post-1990s generation, and more than half are first-time investors, Citigroup Inc. analysts, including Daphne Poon, found last week, citing a survey by the broker.
The Citi team doubled their Futu price target on Jan. 22 after the Tencent-backed company was the only retail-focused broker in the top ten Hong Kong brokers by trading volume. The stock is just 2.3% off Citi’s price target after the recent rally.
« With Tencent as its largest outside shareholder, Futu has technical and business support from Tencent, » wrote Zhang Jingyi, an analyst at Bocom International, in an email. « We believe that Futu has great growth potential and will deliver good operating results. »
Seoul-based Kiwoom, whose trading app is popular with South Korean retail investors, doubled its accounts to 7 million last year after the Kospi benchmark index rose more than 30%, according to the company.
In addition to the retail frenzy, Singapore’s iFast, a fintech wealth management platform aimed at digitally savvy clients, will benefit from its partnership with PCCW Solutions in Hong Kong, according to a notice from Jefferies Financial Group Inc., PCCW, has just received an order from PCCW has digitized the pension fund system in Hong Kong.
Jefferies raised its target price on iFast to $ 7.80 Singapore, up 15% from Tuesday’s level.
Asia’s online brokers are benefiting from a surge in retail activity in the region, especially in small capitalization stocks. More than 350 billion stocks of MSCI Asia Pacific Small Cap Index members changed hands in January and prolonged a volume surge in December that has been dwarfed every month since May 2009.
What is the latest technology today?
Top 9 new technology trends for 2021
- Artificial intelligence (AI) and machine learning. …
- Robotic Process Automation (RPA) …
- Edge computing. …
- Quantum computing. …
- Virtual Reality and Augmented Reality. …
- Blockchain. …
- Internet of Things (IoT) …
What’s the next big thing in 2020?
Petersburg-based company WSUN-97.1 FM, better known as 97X, announced in a video update on Tuesday that Next Big Thing for 2020 has been canceled. « At the moment we have to pause together, » says the video on the screen. “For the overall picture.
What are the technology trends for 2020?
10 technology trends that will affect our lives in 2020
- Trend 1: Artificial Intelligence (AI) breakout moment in manufacturing. …
- Trend 2: Practical deployment of the Internet of Things (IoT) …
- Trend 3: Increased demand for edge computing computing power. …
- Trend 4: Commercialization of the use of quantum computers on a mass scale. …
- Trend 5: Development of aerospace technologies.
Where can I get the latest technology news?
Where can I get the latest technology news?
What’s the best tech news app?
Best tech news apps
- TechCrunch. TechCrunch (TC) Started by Michael Arrington in 2005 …
- Medium. If you are a bookworm and enjoy reading, you must have Medium. …
- Feedly. This app is similar to Flipboard, the only difference is the source of the news. …
- Flipboard. …
- Newsy. …
How do you keep up to date with the latest technology?
That’s a good thing, because technology is becoming more and more integrated into every aspect of our lives every day.
- How can manufacturers keep pace with technology?
- Embrace web content.
- Follow the industry social media accounts.
- Diversify the content you read.
- Make time for online training.
- Attend virtual events and webinars.
Is tech a word?
tech n. (informal) technology.
What technology does the BBC use?
Although much of the broadcast chain uses computers and networks extensively, real-time operations often use traditional connections such as the dedicated serial digital port.
What’s the latest technology in 2020?
10 breakthrough technologies 2020
- Non-hackable internet.
- Hyper-personalized medicine.
- Digital money.
- Anti aging drugs.
- AI-discovered molecules.
- Satellite mega-constellations.
- Quantum superiority.
- Tiny AI.
Who invented the technology?
Thomas Edison, American inventor who individually or collectively held a world record of 1,093 patents. In addition, he created the world’s first industrial research laboratory. Edison was the quintessential American ……
Why is technology bad for us?
Social media and mobile devices can lead to mental and physical problems, such as: B. Eye strain and difficulty concentrating on important tasks. They can also contribute to more serious health conditions such as depression. The overuse of technology can have a greater impact on the development of children and adolescents.
What technology will change the world?
Here are these 6 technologies: Big Data. Artificial intelligence. Self-driving cars.
What will the earth be like in 2025?
By 2025, around 3 billion people will be living in landless countries and another 2 billion will be living in urban areas with high levels of air pollution. … The destruction of the ecosystem is so severe that up to 60,000 plant species could be lost by 2025.
Who will rule the world in 2030?
The world population is projected to reach 8.5 billion people by 2030. India will overtake China as the most populous country on earth. Nigeria will overtake the US as the third largest country in the world.
What will happen in 2040?
Children born in 2040 have a more or less indefinite life. With gene therapy, stem cell and nanomedicine, apart from an accident or a fatal illness, we can live forever and look much younger. Elderly people stay mobile longer with exoskeletons – artificial support structures worn from the outside.