SEOUL, Aug. 24 (Korea Bizwire) — South Korea’s major securities firms are intensifying efforts to break into the short-term note business, highlighting their commitment to venture capital investment amid tightening regulatory scrutiny. Currently a 40 trillion-won ($30 billion) market, the short-term note sector is regarded as a critical funding channel for large investment banks. Only [...]
SEOUL, March 23 (Korea Bizwire) — South Korean brokerage firms saw their combined net profits plunge in 2022 due to a fall in transaction fees and shrinkage in profits from stock and bond markets, data showed Thursday. The combined net profit of 58 brokerages stood at 4.51 trillion won (US$3.47 billion) last year, compared with [...]
SEOUL, April 24 (Korea Bizwire) — South Korean brokerages posted a 62 percent on-year gain in their combined overseas net profit last year on increased stock trading amid the COVID-19 pandemic, the financial regulator said Sunday. The country’s 13 securities companies reported US$305.9 million in overall overseas net income in 2021, up from $188.5 million [...]
SEOUL, Nov. 28 (Korea Bizwire) — South Korean brokerage firms saw their combined net profits rise 10.5 percent in the third quarter from three months earlier, due to increased income from their proprietary trading, data showed Sunday. The combined net profit of 58 brokerages stood at 2.52 trillion won (US$2.1 billion) in the July-September period, [...]
SEOUL, Jan. 11 (Korea Bizwire) — South Korean brokerage houses have slightly revised down their fourth-quarter earnings outlook for major listed companies amid the coronavirus pandemic, a market tracker said Monday. The combined operating income forecast for 164 major listed firms came to 32.7 trillion won (US$29.9 billion) for the October-December period as of Friday, [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korean brokerage houses predicted the local stock market would continue its uptick move in 2021, citing signs of a global economic recovery and growing investor appetite for higher returns, data showed Sunday. Multiple securities companies set their upper-end target band for the benchmark Korea Composite Stock Price Index [...]
SEOUL, Dec. 8 (Korea Bizwire) — South Korean brokerage houses have raised their target prices of Samsung Electronics Co. on signs of a recovery in global chip demand, sources said Tuesday. Some analysts predict the share price of Samsung Electronics, the world’s top memory chip maker, to rise as high as 90,000 won (US$83) after [...]
SEOUL, Nov. 23 (Korea Bizwire) — South Korean brokerage houses expect the local stock market to continue its upturn to reach a new zenith in 2021 on expectations for an economic recovery, sources said Monday. Thirteen securities companies have forecast the upper-end target band for the benchmark Korea Composite Stock Price Index (KOSPI) to range [...]
SEOUL, Aug. 31 (Korea Bizwire) — Deposits in South Korean cash management accounts have surged nearly 20 percent this year to reach a fresh record high, industry sources said Monday. The net asset value of cash management accounts offered by local brokerage houses reached 60.4 trillion won (US$51.1 billion) as of Thursday, up from 51.8 [...]
SEOUL, Feb. 20 (Korea Bizwire) — A dark cloud is hanging over the earnings outlook for South Korean securities firms in the wake of the new coronavirus outbreak and a hedge fund scandal, market watchers said Wednesday. The COVID-19 virus outbreak has put the brakes on the local stock market’s rally, which started late last [...]