Brokerage houses' Q1 profit sharply up on low interest rates, increased turnover
May 12, 2015
Major securities firms in South Korea posted strong earnings in the first quarter thanks to a sharp rise in brokerage fees from increased stock turnover and other financial instruments amid low interest rates, data showed Tuesday.Four listed brokerage houses -- Hyundai Securities, Meritz Securities, KDB Daewoo Securities and Samsung Securities -- logged a combined 447.8 billion won ($410 million) in operating profit in the January-March period, a 175.5 jump from a year earlier, according to the