KUALA LUMPUR: The stockbroking industry needs to keep up and change how it reaches out to the market amid distrupting technology, said Bursa Malaysia Bhd CEO Datuk Muhamad Umar Swift.
He said the industry must harness the power of new technologies to better serve investors, and at the same time, attract a new generation of investors.
“This generation (of investors) are digitally savvy, mobile-first and experience-driven, therefore we need to make investing more engaging and hassle-free to invest anytime, anywhere for tech-savvy Millennials and Gen Z,” he said in his keynote speech at Futu Malaysia Sdn Bhd’s investment app Moomoo Malaysia launching ceremony here today.
He said the launch of its investment super app is in conjunction with its entry into the Malaysian market and became the 30th participating organisation of the exchange.
Muhamad Umar pointed out that innovations like Moomoo’s super app signified the crucial role that technology and date-driven information play in making investment more accessible and more efficient, by consolidating trading, investing, research, artificial inteligence-driven tools and data analytics, in a single intuitive app.
“By providing users with a user-friendly interface, lower-cost and personalised insights, the app opens up investment opportunities to a wider audience of investors.
“Democratising investment opportunities goes beyond access. It is also about fostering inclusivity and diversity, ensuring everyone, regardless of age, background and investing experience can participate in and pursue financial opportunities through the stock market,” he said.
Muhamad Umar said Bursa Malaysia started 2024 on a good note with its market climbing steadily and the benchmark index has broken past 1,500 points as of Feb 23 – reaching its highest level since June 2022, reflecting investor confidence even amid headwinds.
“While rising interest rates and global uncertainties pose challenges, Malaysia’s strong fundamentals and proactive economic initiatives offer growth potential and optimism for the market’s continued performance.
“However, growth alone is not enough. We must also prioritise financial literacy among investors, as in today’s ever shifting financial landscape, knowledge is power,” he said.
He added that equipping and empowering investors with the knowledge and the right tools to make informed decisions, confidently navigate the market and secure their financial future, is crucial in sustaining a vibrant marketplace.
“The launch of Moomoo Malaysia’s investment app is therefore timely as its user-friendly and accessible tools and resources well complement our efforts to enhance the ecosystem, enabling more Malaysians to participate in the capital market more confidently and effectively.
“Beyond a platform for trading and investing, the investment app also functions as an educational hub with over 600 educational resources and materials for all levels of investors,” said Muhamad Umar. – Bernama
