Hong Kong has 2.2 million retail investors, just below 40% of the adult population. And they are a force to be reckoned with. For example, when they invest in an initial public offering in great enough numbers, they have the power to claw back shares originally aimed at institutions. Hence their behaviour is a worthy subject of observation.
In order to shine a light on the make-up and behaviour of this important part of the Hong Kong market, Celent has produced a study based on research consisting of interviews, a survey, and extra data from a range of financial organisations.
There are three broad kinds of retail investors. A third of the total are 'savers'...
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