Biz monitor

China's securities brokerages are expected to earn over 65 billion yuan in trading commissions this year on surging stock market turnover, more than double 2006 results, according to the Shanghai Securities News.

Expectations of soaring brokerage income have bolstered the shares of Chinese listed securities companies, including CITIC Securities and Hong Yuan Securities, as well as backdoor listing targets of other brokerages, analysts say.

CITIC Securities shares have surged 46 percent so far this year, while Hong Yuan is up almost 90 percent. Quoting a research report by Shenyin & Wanguo Securities, a leading Chinese brokerage, the newspaper said the trading commission estimate was based on the brokerage's forecast that the trading turnover of China's listed stocks and funds would reach 18 to 20 trillion yuan this year.