Twenty-Ninth Monex Global Retail Investor Survey, December 2021

Expectations for U.S. stocks were the highest among retail investors in all three regions

Tokyo, Florida and Hong Kong, December 15, 2021 - Monex, Inc., TradeStation Securities, Inc. ("TradeStation") and MONEX Boom Securities (H.K.) Limited ("BOOM"), group companies of Monex Group, Inc. (TSE: 8698), surveyed retail investors with accounts held in the respective companies about their perceptions of the market environment. The Monex Global Retail Investor Survey is a report summarizing their responses.

Contact: Akiko Kato

Yuki Nakano, Minaka Aihara

Corporate Communications Office

Investor Relations, Financial Control Department

Monex Group, Inc.

Monex Group, Inc.

+81-3-4323-8698

+81-3-4323-8698

This material is an English translation of a Japanese announcement made on the date above. Although the Company intended to faithfully translate the Japanese document into English, the accuracy and correctness of this English translation is not guaranteed and thus you are encouraged to refer to the original Japanese document. This translation was made as a matter of record only and does not constitute an offer to sell or to solicit an offer to buy securities in the U.S.

December 15, 2021

For Immediate Release

Monex, Inc.

TradeStation Securities, Inc.

Monex Boom Securities (H.K.) Limited

Twenty-Ninth Monex Global Retail Investor Survey, December 2021

Expectations for U.S. stocks were the highest among retail investors in all three regions.

Monex, Inc, (Minato-ku, Tokyo; Yuko Seimei, President) conducted the twenty-ninth Monex Global Retail Investor Survey* in collaboration with Group companies TradeStation Securities, Inc. (Florida, the U.S.; Peter Korotkiy, President) and Monex Boom Securities (H.K.) Limited (China [Hong Kong], Ivan Law, COO) from November 19 to November 28, 2021.

The year 2021 marked another year of being buffeted by COVID-19. With the end of the year looming, the news of the spread of a new variant broke and global markets entered a correction.

Even so, the U.S. economy, which is propelling the world economy, remains extremely strong. The ISM Non-Manufacturing Index, released on December 3, registered 69.1, the highest reading since the inception of the index. Employment is also recovering steadily and, provided this trend continues, looks likely to recover to pre-COVID levels in 2022. With the U.S. economy growing at a solid pace, growth in other advanced economies is also generally firming.

Summary Findings

1. Global Survey Results: Survey of Retail Investors in Japan, U.S. and China (H.K.)

The forecast DI (*) for world stock markets fell in the U.S. and China, but rose significantly in Japan.

We asked retail investors in each region about their views on the world stock market for the coming three months. Among retail investors in Japan, the DI rose significantly from the previous survey (conducted in December 2020). However, the DI fell among retail investors in both the U.S. and China.

DI (diffusion index):

The percentage of respondents who answered "will rise or improve" minus the percentage of respondents who answered "will fall or deteriorate."

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The forecast DI for world stock markets

[Japan]

Dec. 2020: 14 Dec. 2021: 39

(+25 points)

[U.S.]

Dec. 2020: 28 Dec. 2021: 22

(-6 points)

[China (H.K.)]

Dec. 2020: 37 Dec. 2021: 13

(-24 points)

Expectations for U.S. stocks were the highest among retail investors in all three regions.

Retail investors in all three regions answered that the U.S. is the region with the greatest likelihood of stock price appreciation in the coming three months. Many investors appear to expect stock prices to continue to rise in the U.S., which is propelling the world economy.

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Expectations for stock markets in the coming three months

[Japan]

U.S.: 65.9 Eu/U.K.: 4.4 Asia excl. Japan: 9.1 Japan: 20.5

[U.S.]

U.S.: 78.3 Eu/U.K.: 4.3 Asia excl. Japan: 12.6 Japan: 4.7

[China (H.K.)]

U.S.: 52.9 Eu/U.K.: 8.1 Asia excl. Japan: 31.6 Japan: 7.4

The percentage of retail investors in all three regions investing in cryptocurrency reached its highest level.

We asked retail investors about much discussed cryptocurrency such as Bitcoin, with respect to their experience with it and their willingness to invest in it. The percentage of retail investors replying that they had already invested in cryptocurrency was 19.6% in Japan, 33.1% in the U.S. and 18.4% in China (Hong Kong), the highest level in each country since this question was introduced. Investment in cryptocurrency among retail investors appears to be becoming more widespread globally.

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2Japan Specific Quarterly Survey Results: Survey of Retail Investors in Japan

The highest percentage of investors, 55.9%, forecast the 2022 high for the Nikkei average to be JPY29,000 to JPY32,000.

Please refer to the details of the results of the survey in the attached report.

An outline of the survey conducted in Japan, the U.S. and China (H.K.):

Japan

U.S.

China(H.K.)

Survey period

Nov. 19 to Nov. 28,

Nov. 19 to Nov. 28,

Nov. 23 to Nov. 26,

2021

2021

2021

Number of responses

1,006

737

310

Monex, Inc. has been surveying retail investors about their attitudes regarding financial market conditions, providing you with the survey results as the "Monex Retail Investor Survey" since October 2009. In addition to Japan, as our group has established securities businesses in the U.S. and China (Hong Kong), we expanded this retail investor survey geographically and added the U.S. and China (Hong Kong) in order to compile the "Monex Global Retail Investor Survey" since June 2011. Monex, Inc., TradeStation Securities, Inc. and Monex Boom Securities (H.K.) Limited have been jointly conducting this survey and observing retail investors' attitudes about financial market conditions in Japan, the U.S. and in China (Hong Kong) on a regular basis.

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Monex Group Inc. published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 06:28:10 UTC.