Number of stock accounts plunges on bear market

By Korea Herald
  • Published : Apr 5, 2013 - 20:31
  • Updated : Apr 5, 2013 - 20:31
The number of active accounts for stock trading in South Korea declined in March from a month earlier amid a prolonged bear market stemming from rising economic and political uncertainties, data showed Friday.

South Korean investors held 18.9 million active stock accounts as of end-March, down 3.9 percent from 19.7 million accounts tallied in end-February, according to the data compiled by the Korea Financial Investment Association.

The number fell below the 19 million mark for the first time in 16 months. The figure was based on the number of active accounts with deposits higher than 100,000 won ($88.6), with a transaction record in the past six months.

Market watchers said the decline came as the stock market continued to remain stagnant amid the rising economic uncertainties sparked by the weak yen and concerns over a possible spillover effect of the Cyprus bailout. (Yonhap News)