Brokerage profits drop 30 percent in February

The monthly net profit of 19 securities brokerages listed in Shanghai and Shenzhen in February totaled 1.84 billion yuan ($296 million), a 30 percent decrease from January, according to reports from the companies. Total revenues of the 19 companies in February was 4.9 billion yuan, down 25 percent from January. Only two of the 19 companies saw profit growth in February, while 15 brokerages reported positive profit gain in January. The number of trading days decreased by about 25 percent due to holidays in February.

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