South Korea's Top 10 Brokerage Firms Report Q2 Net Profit of Nearly $4.356 Billion, Yet Stock Prices Under Pressure

Odaily Planet Daily News – South Korea's major securities companies achieved a record-breaking profit of nearly 6 trillion Korean won (approximately $4.356 billion) in the second quarter of this year, but brokerage stocks have recently shown weak performance. According to reports from South Korea's financial investment industry on the 29th, the combined net profit of South Korea's top 10 brokerage firms (Mirae Asset, Korea Investment, Samsung, KB, NH, Shinhan, Meritz, Kiwoom, Hana, Daishin) reached 5.9362 trillion Korean won (approximately $4.310 billion) in the second quarter, marking a 37% increase from the previous quarter and a 141% year-on-year growth. Despite the solid performance of South Korea's major brokerage firms, their stock prices remain sluggish. On May 9, the Korea Exchange Securities Industry Index closed at 9,804.97 points, hitting a new high for the year, but subsequently experienced a sharp decline. In June, the index fell to the range of 6,400 to 7,400 points, further dropping to the range of 4,700 to 6,400 points in July, and fluctuating between 5,000 and 5,500 points this month.