The number of day traders surpassed 3 million for the first time last month, accounting for a record 14.5 percent of all investors, as more embraced day trading amid a bullish stock market, Financial Supervisory Commission (FSC) data showed on Tuesday.
The number of day-trading accounts grew 41 percent from 2.19 million a year earlier to 3.09 million at the end of last month, compared with an annual rise of 7.5 percent of stock-trading accounts to 21.29 million, the data showed.
Among the 1.5 million newly opened stock-trading accounts over the past year, 90 percent were day-trading accounts, indicating that the practice has become popular among investors, the commission said.
Photo: Chen Rou-chen, Taipei Times
The ratio of day trading accounts to overall stock-trading accounts tallied 11.07 percent last year, up from 9.58 percent in 2019 and 8.37 percent in 2018, data showed.
Day-trading transactions made up about 40 percent of all transactions last month, up from 30 percent a year earlier, Taiwan Stock Exchange data showed.
Day trading has grown in popularity as investors seek to profit on price spread amid a rosy stock market, while it could also be attributed to an extension of a tax cut on day-trading transactions, a commission official said by telephone on Wednesday.
Day trading can be risky, especially for investors who are not familiar with their targeted stocks or who make investment decisions based on hearsay or opinions, the official said.
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