Consolidation in stockbroking industry to persist
THE recent proposal by Alliance Bank Malaysia Bhd to dispose of its stockbroking unit to Phillip Futures Sdn Bhd may suggest further consolidation is in store for the stockbroking industry, in view of dwindling trading volumes this year. Last year was an exceptional one for stockbroking firms. Trading interest, particularly among younger investors, picked up swiftly after the global equity rout in March.
Source: theedgemarkets.com