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Business

Rakuten-Kenanga partner in Malaysian online stock trading

New service targets internet-savvy investors with low commissions

Rakuten Trade officials at a launching ceremony in Kuala Lumpur on Thursday.

KUALA LUMPUR -- Japanese e-commerce company Rakuten made its first foray into online stock trading in Malaysia on Thursday, hoping to capture 30% of the market share in three years.

Rakuten Trade, a 50-50 joint venture between Rakuten Securities and Kenanga Investment Bank, said its smartphone app, Ispeed.my, offers complete online trading capabilities, from opening accounts to cash transfers.

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