Off the wire
• Panda subway train debuts in bear's home province  • Fearure: Kenya steeplechase star Brimin out to wipe London 2012 pain in Rio  • Spotlight: Yemen peace at crossroads as warring sides split over roadmap  • Singapore President Tony Tan Keng Yam visits former President S R Nathan at hospital  • Urgent: Gunmen attack two energy facilities in northern Iraq  • 20 IS militants killed in E. Afghanistan  • Iranian Super League soccer fixtures  • Militants kill 4 workers in attack at Iraq gas facility  • Skydiver Luke Aikins makes world's highest parachute-free jump, landing in net  • India sees more deaths from lightning strikes  
You are here: 　 Home

Chinese brokerages see profit declines in H1

Xinhua, July 31, 2016 Adjust font size:

All 25 listed securities firms posted sharp falls in net profits for the January-June period, according to their half-year financial reports or preliminary earnings estimate filed with stock exchanges.

Guotai Junan Securities, an industry leader, saw its profits shrink 47.91 percent from a year ago, while Shanxi Securities registered the biggest drop of 84.93 percent.

Weighed on by a market downturn, brokerage incomes from submission fees and leverage financing fell substantially.

Chinese stocks remained bearish in the first half of the year with the benchmark Shanghai Composite Index slumping more than 17 percent as market sentiment has yet to recover from a market crash last summer.

However, analysts said that the performance of brokerages started to improve in the second quarter and a mild recovery could be expected during the rest of the year. Endi