Home China Headline Brokers set to double income in stock boom

Brokers set to double income in stock boom

Chinese mainland brokers may double their income from stock-trading commissions this year if investor sentiment continues to follow the blistering pace set in 2006, an industry research report said yesterday. Brokerages are expected to chalk up 65 billion yuan (US$8.4 billion) in trading securities for clients in 2007, up from 37.6 billion yuan last year, Guotai Jun'an Securities Co said in the report, carried by Shanghai Securities News. Total turnover on the Shanghai and Shenzhen stock exchanges hit 130.9 billion yuan per session in January, compared with a 38.4 billion yuan of daily average for all of 2006, according to the report. "The market is very liquid, which could keep the turnover rate at a high level," Liang Jing, a Guotai Jun'an analyst, said in the report. China's benchmark Shanghai Composite Index soared 130 percent in 2006 as the market's structural reforms lured retail investors back into the market. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

< Prev		Next >