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He said the industry must harness the power of new technologies to better serve investors, while at the same time, attracting 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 any time, anywhere for tech-savvy millennials and Gen Z,” he said in his keynote speech at the Futu Malaysia Sdn Bhd’s investment app Moomoo Malaysia launching ceremony 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.
Umar pointed out that innovations like Moomoo’s super app signified the crucial role that technology and data-driven information play in making investment more accessible and more efficient, by consolidating trading, investing, research, artificial intelligence-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.
Umar said Bursa Malaysia started the year on a good note with its market climbing steadily and the benchmark index has broken past 1,500 points as of Feb 23, 2024 – reaching its highest level since June 2022, reflecting investor confidence even amidst 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 said 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.
Umar said the launch of Moomoo Malaysia’s investment app is therefore timely as it is user-friendly.
“The app’s accessible tools and resources 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,” he added.
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