Rushing to play stocks when having to stay home because of Covid-19

Avatar of Nick John By Nick John Dec13,2023 #because #Covid #Rushing
Rushing to play stocks when having to stay home because of Covid-19 3
Rushing to play stocks when having to stay home because of Covid-19 3

After opening an account at COL Financial Group, this new investor started browsing forums to find trading instructions and read financial reports.

At AAA Southeast Equities, Director William Matthew Cabangon said the number of customers opening accounts has doubled since the blockade began in the Luzon island region in mid-March. COL Financial CEO Conrado Bate said.

`People are stuck at home. And the stock market is one of the few places still open,` Cabangon said.

Investors monitor electronic boards at the Philippine Stock Exchange.

Regardless of the fact that the Philippine stock market has dropped 27% this year and is one of the worst markets in the world, investors in this country are jumping in with the expectation of a strong stock recovery.

`This is the opportunity many people have been waiting for,` Bate said.

Ongchuan started with an investment of 3,000 pesos ($60) in March. He bought shares in real estate firms Ayala Land and Prime Holdings.

Stock trading activity has skyrocketed since mid-March. The number of shares changing hands on the Philippine Stock Exchange increased by 47% compared to last year’s average.

Bate said young investors have helped COL Financial’s number of new accounts skyrocket.

When the number of stock investors accounts for only 1% of the population, Philippine officials have long sought to improve people’s knowledge to upgrade the financial market.

COL Financial has organized many seminars for new clients to get advice from analysts.

`The most common question we get is: Should we buy now or not?` Bate said, `We answered that we don’t know if this is the bottom yet. But if we’re in for the long haul

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