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Mobile stock trade soars amid market rally

All Headlines 10:53 September 08, 2016

SEOUL, Sept. 8 (Yonhap) -- "Thumb-using" stock trading has sharply increased in South Korea, spurred by the recent market rally and brokerage firms' marketing for smartphone users, data showed Thursday.

According to the Korea Exchange, the daily average of 254.7 million shares were traded via the mobile trading system (MTS) in the nation's secondary KOSDAQ market this year.

It marks a 39.94-percent increase from 181.2 million recorded last year, accounting for 35.5 percent of this year's entire stock trading in the market.

Mobile stock trade has grown in the main KOSPI market as well.

The ratio of share transactions using the MTS has exceeded 30 percent for the first time, rising from 27.3 percent in 2015, 21.5 percent in 2014 and 19.3 percent in 2013.

This undated file photo shows an investor monitoring stock prices with a smartphone. (Yonhap)

Individual investors especially have increased the use of the mobile system, trying to respond to the recent stock market rally as quickly as possible, observers said.

Local securities firms have also expanded marketing events exempting fees for mobile device users in an effort to publicize the February launch of a service to apply for new accounts online, they noted.

The proportion of stock trade using the PC-based home trading system (HTS), meanwhile, has fallen to 48.7 percent in the KOSPI market.

lcd@yna.co.kr
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