| Mobile Web

First-half party ends as top 5 brokerages\' Q3 net profit plunges 81 percent

Major South Korean securities firms saw earnings drop sharply in the third quarter as domestic stock trading value fell, cutting brokerage income, while rising market interest rates weighed on bond and trading results. The combined consolidated net profit of Mirae Asset Securities, Korea Investment & Securities, NH Investment & Securities, Samsung Securities and Kiwoom Securities totaled 851.2 billion won, down 81.1 percent from the second quarter. Mirae Asset swung to a net loss, and the others all posted lower profits.