What's news

Govts & policies

Brokerages see H1 profit declines

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 estimates 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 by a market downturn, brokerage incomes from fees and leverage financing fell substantially.