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Stock trading via smartphones sees sharp rise

Stock trading via smartphones accounted for an average 34.48 percent of daily trading on the secondary KOSDAQ market during the first half of this year, the nation's bourse operator said Monday.

In 2010, stock trading via smartphones took up just 3.8 percent of the KOSDAQ market, according to the Korea Exchange.

Mobile stock trading in South Korea has jumped over the past seven years, mainly due to brokerages' stepped-up marketing efforts for smartphone users. 

(Yonhap)
(Yonhap)

Last year, stock trading via smartphones accounted for 32.06 percent of the KOSDAQ market.

Stock trading via smartphones has also grown on the main KOSPI market.

The ratio of smartphone trading to total transactions on the KOSPI market rose 0.35 percentage point to 17.66 percent during the first half of this year.

Local brokerage houses have been exempting fees for mobile device users to attract more clients since the February launch of a service to apply for new accounts online.

The data, meanwhile, showed the proportion of stock trade using the PC-based home trading system on the KOSDAQ market fell to 48.74 percent during the first half of the year from 79.31 percent in 2010.

The ratio for the main bourse also fell to 24.38 percent during the first half of this year from 28.05 percent last year. (Yonhap)

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