Let’s play stocks: SGX sees record surge in Central Depository account openings

Retail investors are flocking in droves.

More and more Singaporeans are looking to the stock market to stretch their savings. The SGX announced today that the participation of retail investors in the stock market is growing, thanks to a record surge in Central Depository account openings.

According to the SGX, more than 68,000 new Central Depository (CDP) accounts were added in the last 12 months, signaling the increased participation of retail investors in the stock market, and a record-high 844,000, or 52% of these accounts actually had holdings.

“Subscribers to our investor portal, MyGateway, reached 187,600 as at end May 2014, up 20% from a year earlier. Our SGX Academy programmes and events with partners reached 85,000 individuals in the year to date, compared with 30,000 a year earlier,” the SGX stated.

Here’s more from SGX:

Singapore Exchange (SGX) today said participation of retail investors in the stock market is growing. To further support awareness about share investing, SGX today launched its StockWhiz investing competition on a Tradehero app for mobile phones and tablets.

In the last 12 months, more than 68,000 new Central Depository (CDP) accounts were added, bringing the total to 1.6 million accounts. Of these, a record-high 844,000, or 52% of accounts had holdings. 

Nevertheless, the proportion of Singaporeans invested in the stock market is low compared with other developed economies like Australia and Hong Kong, where issues like retirement savings are also of concern.

“Singaporeans are today concerned with questions like – how can I save enough for retirement, and must I work longer and harder? I believe the question should really be: how can I make my savings work harder for me? The key lies in starting early and having a diversified portfolio including investing in shares over the long term,” said Lynn Gaspar, Head of Retail Investors at SGX.