More heartlanders buying shares
By Goh Shi Ting, Multimedia Journalist, RazorTV
RETIREE Peter Yu has stayed away from the stock market for the last 30 years.
But last month, the 60-year-old grandfather decided to dip into his retirement fund to invest in stocks after hearing news of the stellar performance of the two integrated resorts that opened last year.
Mr Yu, who invested more than $10,000 in the Genting Singapore stock, joins a growing group of heartlanders hoping to ride on the positive momentum of the stock market.
Since September last year, local stock brokerage Phillip Securities saw a 10 per cent rise in the number of people opening new trading accounts and a 5 per cent increase in the number of people visiting its seven heartland investor centres.
Phillip Securities' Head of Dealing, Won Tien Ching observed 'a lot of phone calls from uncles and aunties who hold dormant accounts requesting for a higher limit to trade... I would say that the market is quite positive at least for the first quarter of this year.'
But analysts also reminded amateur first-timers to do their homework before making their money work for them.
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When the uncles and aunties who are usually not involved start to get in, the market is about to turn the other way ......
By Goh Shi Ting, Multimedia Journalist, RazorTV
RETIREE Peter Yu has stayed away from the stock market for the last 30 years.
But last month, the 60-year-old grandfather decided to dip into his retirement fund to invest in stocks after hearing news of the stellar performance of the two integrated resorts that opened last year.
Mr Yu, who invested more than $10,000 in the Genting Singapore stock, joins a growing group of heartlanders hoping to ride on the positive momentum of the stock market.
Since September last year, local stock brokerage Phillip Securities saw a 10 per cent rise in the number of people opening new trading accounts and a 5 per cent increase in the number of people visiting its seven heartland investor centres.
Phillip Securities' Head of Dealing, Won Tien Ching observed 'a lot of phone calls from uncles and aunties who hold dormant accounts requesting for a higher limit to trade... I would say that the market is quite positive at least for the first quarter of this year.'
But analysts also reminded amateur first-timers to do their homework before making their money work for them.
_________________________________________________________________
When the uncles and aunties who are usually not involved start to get in, the market is about to turn the other way ......
