Brokers' profits casualty of market plunge

Net profit and revenue of 18 listed securities houses in China declined sharply in July amid the plummeting mainland market and a regulatory crackdown on margin financing.

Brokers' profits casualty of market plunge

Eighteen of China’s biggest listed securities houses saw substantial contractions in net profit and revenue in July as the country’s stock markets tanked and a regulatory crackdown on margin financing crimped business.

The retreat marked a dramatic mid-year turning point for mainland brokers, as the growth and optimism of the first six months yielded to a bleak outlook for the second half. 

“We believe the peak period of high growth for...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES