Abstract
Characteristics and Profile of Millennial Retail Investors in the Malaysian Stock Market
Highlights
Series of market uncertainty has changed the landscape of the Malaysian stock markets’ participants
This led to the reshaping of the Malaysian stock market participants as they saw the local institutional investors be actively involved while the retail investors become less interested to be involved in the stock market
This study is descriptive and intends to examine millennial retail investors' characteristics in the stock market. It revealed that the Malaysian millennial retail investors are a newbie in the Malaysian Bourse; they were 1) exhibit risk-averse and risk-seeker attitudes, 2) preferred using technical analysis to assist their investment decisions, 3) lack of market knowledge and insufficient investing skills, 4) educated, and 5) mainly in the middleincome groups
Summary
Series of market uncertainty has changed the landscape of the Malaysian stock markets’ participants. The Malaysian stock market has been dominated by local retail investors. About 37.84 per cent of the market players were made up of local retail investors from 1993 to 1999 (refer to Figure 1). Retail investors' participation was significantly affected by the Asian Financial Crisis 1997, as the numbers declined exponentially. The local institutional investors' participation in the Malaysian stock market has begun to increase as the Malaysian Government promoted institutional investors' participation to stabilise the Malaysian stock market. Malaysian millennials, with a lack of ethnic differences, have an equal chance of accessing high-income job opportunities, in the manufacturing and services sectors. The Malaysian Bourse notes that millennials have accumulated a higher amount of income, and for that reason, millennials have been enticed to allocate their money in stock investment
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