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HK's young ready to bet on stocks and bonds

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Enoch Yiu

Two-thirds of young Hongkongers expect part of their retirement would have to be funded by investments in stocks and bonds.

That proportion was the highest of six East Asian markets surveyed in a study sponsored by insurer Prudential Assurance and conducted by a Washington-based think tank, the Centre for Strategic and International Studies (CSIS).

The study was based on a survey last summer of 800 to 2,500 people each in Hong Kong, mainland China, Malaysia, Singapore, South Korea and Taiwan. It found 66 per cent of Hong Kong workers aged between 20 and 29 believed part of their post-retirement income would be generated from stocks or bonds.

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That compared with 65 per cent in Singapore, 49 per cent in Malaysia, 42 per cent in Taiwan, 32 per cent in mainland China and 20 per cent in South Korea.

'Hong Kong and Singapore are both international investment markets, so the people are more market orientated,' said Richard Jackson, director of the CSIS global ageing initiative.

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The poll also found half of Hong Kong respondents did not have nor expect to have children, compared with 31 per cent in South Korea, 28 per cent in Taiwan, 26 per cent in Singapore, 20 per cent in Malaysia and 8 per cent in mainland China.

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