Brokerages enjoy rising valuations, trading revenues
By Bloomberg | China Daily | Updated: 2014-12-09 07:29
Boom accelerated by surge in new individual stock-trading accounts
Chinese brokerage valuations have surged to their highest level in more than four years as Shanghai's surging stock market improves the prospects for trading revenue.
The Bloomberg Intelligence China A-Share Institutional Brokerage index, which tracks CITIC Securities Co and 21 of its peers, climbed 55 percent in the two weeks to Dec 5, pushing its valuation to 4.3 times its book value - the highest level since May 2010.
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