South Korea's Top 10 Brokerages Post Record Q2 Net Profit of Nearly 6 Trillion Won, Yet Shares Face Collective Pressure

August 30 news, according to Jin Shi, South Korea's major securities firms achieved a record net profit of nearly 6 trillion won in the second quarter of this year, but recent brokerage stocks have shown weakness. The top 10 South Korean brokerages (Mirae Asset, Korea Investment, Samsung, KB, NH, Shinhan, Meritz, Kiwoom, Hana, Daishin) posted a combined net profit of 5.9362 trillion won in the second quarter, up 37% quarter-on-quarter and 141% year-on-year. Despite solid earnings performance, the stocks of major South Korean brokerages have been relatively weak. The Korea Exchange securities industry index closed at 9804.97 points on May 9, hitting a yearly high, before a sharp pullback. In June, the index fell to the 6400-7400 point range, further dropped to the 4700-6400 point range in July, and has been fluctuating in the 5000-5500 point range this month.