The portion of the share transactions through mobile devices like smartphones and tablet PCs has exceeded the 25-percent mark in terms of value last month. (image: ota_photos/flickr * the original image source from TradingAcademy.com (http://www.tradingacademy.com))
SEOUL, Korea, Mar 11 (Korea Bizwire) – As many people are today using smartphones and tablet computers through which they can trade stocks with the tip of their fingers, the amount of stock traded through mobile devices has surpassed a 25-percent threshold, an eight-fold increase from only 3 percent as late as 2010.
According to the Korea Exchange, of all the online stock transactions, the portion of the share transactions through mobile devices like smartphones and tablet PCs has exceeded the 25-percent mark in terms of value last month.
The total amount of buying and selling stocks reached 27.85 trillion won (US$26.1 billion) and 27.72 trillion won ($25.9 billion) respectively. The volume of transactions through mobile devices recorded 7 trillion won and 6.99 trillion won, respectively.
Still, the share of the transactions through the so-called home trading system topped with 74.1 percent of buying and 74.0 percent of selling. Online trading through the phone system recorded less than 1 percent.
By amount of buying through the mobile trading system, it passed the 5-percent level in October 2010, 10 percent in June 2011 and 20 percent in February last year. As the transaction volume through mobile devices increased, the portion of transaction through the home trading system decreased proportionally.
Also, the trend was almost identical with the Kosdaq market. The portion of the home trading system accounted for 25 percent in the total volume of transactions last month.
So far, the securities industry has encouraged day traders to take on the home trading system by offering various benefits such as exemption of transaction fees. These aggressive marketing activities of the securities firms have resulted in the early adoption of the system among Korean stock traders.
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