ISSN: 2222-6990
Open access
The Malaysian stock market’s participant from the retail investors’ segment has changed, with newcomer participation from the millennial generation replacing baby boomer. Theoretically, retail investors’ demographic profile and characteristics influence their behaviour and investment decision-making process. Therefore, this study investigates millennial retail investors' characteristics as they are relatively new in the Malaysian stock market. The data were obtained via a personally administered survey in the Klang Valley and gathered 258 useable questionnaires. The descriptive and cross-tab were analysed using the SPSS software that provides the information of the Malaysian millennial retail investors. The findings indicate that millennial investors lack market knowledge and have inadequate investment skills. Nevertheless, they are optimistic about the market potentials and use technical analysis to assist their decision-making process. They are relatively educated and are in a middle-income group. Also, males exhibit both risk-averse and risk-seeker attitudes. The study implies that the Securities Commission, Bursa Malaysia and investment institutions should actively educate this group of investors to equip them with the relevant stock knowledge and investment skills.
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In-Text Citation: (Patrick et al., 2021)
To Cite this Article: Patrick, M., Ahmad, N., Muhamat, A. A., & Bujang, I. (2021). Characteristics and Profile of Millennial Retail Investors in the Malaysian Stock Market. International Journal of Academic Research in Business and Social Sciences, 11(18), 106–119.
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