Millennial Investors Swarm Mainland China’s $1.8 Trillion Stock Boom: Overwhelmed Online Platforms Spark Rush to Traditional Brokerages in Hong Kong

Hong Kong sees a surge of youthful investors amidst mainland China's $1.8 trillion stock surge

The swell of millennial investors has caused a strain on some digital trading platforms, causing a shift towards opening accounts at physical locations to potentially reap the benefits of the boom.

Many novice investors, primarily in their late twenties and early thirties, have not had an easy journey. Aspiring traders have faced difficulties in setting up accounts on banks' and brokers' online trading platforms. This is due to these systems being unable to handle the sudden surge in user numbers, as per the brokers' reports.

Individuals who didn't want to be left out of the celebration stopped their online efforts and opted for the conventional route, flocking to the physical locations of brokers to establish stock trading accounts. Some discovered that the process was expedited with the assistance of the employees.

Tom Chan Pak-lam, the permanent honorary president of the Institute of Securities Dealers, noted that it's fascinating to observe a surge of young investors, aged between 20 and 30, frequenting the offices of some of the most established brokerage firms in Hong Kong recently to initiate new stock trading accounts.

"Typically, young investors are drawn to online brokers to set up their accounts. However, lately, a number of them have started visiting local branches of conventional brokerage firms. This could be due to the fact that some online platforms have become overloaded with clients looking to create new accounts for stock trading."