Urbanization and an expanding middle class with higher levels of disposable income have long been drivers of the growth in retail investment across Southeast Asia. Now, a new investor segment is emerging.
Young people in Southeast Asia are rapidly becoming a major investment force, transforming the region's financial landscape through a combination of digital adoption, increased financial literacy and a desire to invest in alternative assets such as cryptocurrencies.
Not only are younger investors an important demographic in terms of numbers, but they could soon have a higher level of wealth to invest as they inherit money. An estimated $5.8 trillion is expected to change hands in Southeast Asia by 2030 in the largest inter-generational wealth transfer the region has ever seen. Given the growing interest in investing, a significant portion of this wealth may end up in financial markets.
Indonesia exemplifies this market shift, with capital market investors rising to 22.97 million – 99.76% of whom are retail investors. Notably, over 12.5 million of these investors (54.69%) are aged 30 or younger and those under 40 account for 79%. Retail investors of all ages now account for 50% of stock market trading volumes.
Malaysia is seeing a similar pattern, with 53% of retail investors under age 45, according to research published by the country’s stock exchange, Bursa Malaysia. Meanwhile, those under 30 accounted for more than 50% of new investment accounts opened in the past five years.
Anecdotal evidence suggests Thailand and Vietnam are seeing the same trend. In Thailand, one survey showed that six out of 10 members of Gen Z said they invested money every month, while in Vietnam investors under 30 accounted for 56% of new accounts opened at wealthtech platform Techcom Securities in the first half of 2025.
This rapid growth is contributing to a broader regional story. Net wealth in Asia-Pacific (excluding China) grew 6% between 2024 and 2025 to $92 trillion. By 2030 it is expected to reach $121 trillion, according to a recent report from Boston Consulting Group – with implications throughout the region and beyond.
Exploring Different Asset Classes
While young investors are putting money into more traditional assets, such as equities and bonds, they are also showing an openness to alternative assets.
Around 75% of cryptocurrency investors in Indonesia are between 18 and 35, according to Commodity Futures Trading Regulatory Agency (Bappebti). In Malaysia, younger investors are also more likely than older generations to hold alternative assets, with 23% of both Gen Z and Millennials holding cryptocurrency – an asset that fails to appear in the top five asset classes favored by Gen X (ages 45 to 61).
This trend is also being reflected in derivatives market activity. With a global retail customer base exceeding 600,000 served by over 130 brokers. Retail participation in CME Group markets from the wider Asia-Pacific region has grown 16% in the last five years, with heightened regional activity this year in precious metals and oil futures.
Data, Mobile Access and Technology Key to Adoption
The democratization of advanced trading analytics combined with social learning and improved educational resources is further accelerating the adoption of a wider family of trading and investing instruments.
Easy access to markets through mobile-first trading apps and AI-backed investment advisors is also increasingly pervasive across Asia. In Indonesia, investment apps, such as Ajaib, Bibit and Stockbit, which offer low-minimum investments and, in some cases, robo-advice and social networking features, are particularly popular with young investors. AI is gaining traction in Malaysia, with 62% of Gen Z and 40% of Millennials utilizing tools like smart budgeting apps and financial chatbots. Global brokers are increasingly applying to serve this market, bolstering competition and bringing different technology and functionality to users.
At the more sophisticated end of the spectrum of experience, CME Group data shows a noticeable increase in the use of automated trading strategies by retail traders across Asia. Previously the preserve of institutional investors, a small but significant minority of retail investors have been acquiring market data feeds via API to implement algorithmic strategies responsive to specific data signals.
Social media is another meaningful investment driver for retail investors. Surveys show that Millennials and Gen Z often trust the fin-fluencers they follow as much or more than traditional financial advisors. In Malaysia, a financial literacy study found 68% of people across all age groups admitted using social media as their primary source of financial learning.
Meanwhile, the Indonesia Stock Exchange has recognized the power of social media as a way to reach young people and is harnessing it to promote financial literacy, carrying out 17,575 capital market education activities through social media channels in 2025, alongside in-person sessions and webinars.
Market Implications
The growth in young, sometimes inexperienced, investors has significant implications for the market. Younger investors tend to be more likely to invest in higher risk assets in their search for returns, making education absolutely critical.
Technology has improved education for traders who are new to products like futures and options. For example users are increasingly using simulated trading environments like that offered by CME Group. These offer a safe way to learn about the products and test their strategies. This tool was the first simulation environment of its kind offered in Korean, with over a thousand traders using it to complete the local trading certification requirements.
Their willingness to embrace digital platforms is a spur for innovation, and their openness to new and alternative asset classes, coupled with appropriate education, contributes to increased liquidity.
With growing participation levels, and the prospect of significant wealth transfer in the coming years, younger investors look set to continue playing an increasingly important role in the region’s markets, with implications for market participants everywhere.
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