Millions of South Koreans have jumped into stock market trading over the past year with their enthusiasm feeding off a new market force - popular investment channels on YouTube.
Cho Seong-bin, a 27 year-old bank worker who puts about half of his monthly pay into stock trading, is a devotee. He uses his commute to watch SamproTV and other channels that offer daily briefings, discussions of stock picking strategies and even personalised investment advice from well-known market players.
Cho says it's working for him. He only began trading late last year but his 8% return so far this year beats a 5% rise in the benchmark Kospi The country last year saw a stunning 49% jump in the number of people investing in domestic stocks to 9.14 million, about 18% of the population, industry data shows.
They also accounted for two-thirds of South Korea's stock trades in 2020 and held 28% of the market by the end of the year. By comparison, in neighbouring Japan, retail investors accounted for 22.7% of trades and owned 16.8% of the market at end-December.South Korea's army of retail investors has posed new challenges for traditional market players. While it has led to red-hot demand for domestic IPOs, for example, it has also made them difficult to price.
Net investment in local mutual funds that primarily invest in stocks fell 11% to 77.7 trillion won last year - the sharpest drop in a decade, according to industry data. "When there are drastic market movements or other content that should be addressed urgently, we schedule an impromptu show," says Kim Dong-hwan, the channel's main host.
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