Mainland brokerage earnings take a dive
The mainland's biggest brokerages earned 58.3 per cent less in revenue in the first quarter of the year than in the corresponding period last year, becoming victims of a continuous decline in domestic stock markets.
The brokerages earned 4.46 billion yuan compared with 10.71 billion yuan in the year-earlier period, according to the Shanghai Securities News yesterday.
Last month, brokerages earned 1.94 billion yuan, beating the earnings of 1.24 billion yuan in January and 1.27 billion yuan in February.
However, this was still a 47.97 per cent decrease from the figure achieved in March last year.
The first quarter's top performing brokerage was Guotai Junan Securities, which earned 287 million yuan, followed by China Galaxy Securities, with 269 million yuan.
The next top earner was Shenyin & Wanguo Securities, which earned 205 million yuan.
