Weak trading, bleak commissions drag profits drown for China’s brokers

March 25, 2017 By Julie Zhu and Engen Tham HONG KONG (Reuters) – Chinese brokerages, including the country’s biggest, CITIC Securities Co Ltd , reported a sharp drop in profits in 2016 as lackluster stock market activity dragged down commission incomes. Brokers in China have been struggling after a stock market boom came to a turbulent end in 2015. The reality of continued weakness on the Shanghai and Shenzhen markets has prompted some brokerages to slash commissions and scale back staff benefits to keep costs in check. Two of China’s…

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