Number of stock accounts hits record high on bull run
The KOSPI index is displayed at a dealing room of Hana Bank in Seoul, Thursday. Yonhap
The number of stock trading accounts in Korea has reached a new high, thanks to a bull run led by major chipmakers despite some market gyrations, data showed Thursday.
The number of trading accounts stood at 108.7 million as of Wednesday, up more than 10 million accounts from 98.28 million tallied at the end of last year, according to the data from the Korea Financial Investment Association (KOFIA).
The figure has been rising sharply this year as more retail investors purchased local heavyweight stocks, including Samsung Electronics Co. and SK hynix Inc.
Last year, the number of stock trading accounted increased by 11.7 million.
This month, the nation's benchmark Korea Composite Stock Price Index (KOSPI) surged past 9,000 points for the first time, on the back of a technology rally driven by artificial intelligence (AI) optimism.
However, market volatility has been also growing. The KOSPI 200 volatility index, or VKOSPI, stood at 84.81 on Wednesday, up 6.04 percent from the previous session.
The VKOSPI is the official Korean volatility index and serves as a "fear gauge," measuring the market's expected volatility over the next 30 days based on KOSPI 200 options.