Many big securities firms have reported lower profits in the first half of 2019 (Photo: VNA)
Ho Chi Minh City (VNA) – Many leading Vietnamese securities firmsreported lower profits in the first half of 2019, according to the Ho Chi MinhStock Exchange (HOSE).
Top brokerage firmSaigon Securities Inc (SSI) posted a pretax profit of 510 billion VND (21.9million USD) in the period, only equal to 30 percent of the yearly target.
Ho Chi Minh CitySecurities Corporation (HSC) reported a H1 pretax profit of 238 billion VND, a60 percent drop year-on-year.
With revenues frombrokerage services falling by half, HSC posted a total revenue of 753 billionVND, dropping 49 percent.
Other leadingbrokerages like Viet Capital Securities (VCSC) and VNDirect (VND) also reportedtheir revenues falling by 35 and 46 percent against H1 2018 respectively,mainly because of lower revenue from brokerage services.
The firms attributed the decline to falling trading value in the secondquarter. Average daily trading value in the last three months fell by 40percent year-on-year to 4.3 trillion VND, while total trading value in H1dropped by almost 45 percent year-on-year. - VNA
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Many big securities firms have reported lower profits in the first half of 2019 (Photo: VNA) 
