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June 29, 2017

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Securities brokerage profits drop near 60% in November

TAIPEI, Taiwan -- Amid dwindling trading volume, securities brokerage firms and dealers accumulated profits of NT$1.254 billion in November, down 57.98 percent month-on-month, according to an update published yesterday by the Taiwan Stock Exchange (TWSE).

Over the course of November the four-week moving average of the Taiwan Capitalization Weighted Stock Index (TAIEX, 加權指數) tumbled 2.53 percent, with trading volume seeing an 11-percent month-on-month decline, which affected the profitability of securities brokerage firms and dealers.

Despite tepid performance results in the previous month, the sector maintained a 10.39-percent year-on-year growth over last year's figures, accumulating profits of NT$18.222 billion in the first 11 months of this year.

The TWSE stated that the 10.39-percent year-on-year growth figure for the first 11 months of this year would have been rated at 36.73 percent, as last year's profit results for the sector were buoyed by non-recurrent sales of real estate assets that totaled at NT$3.18 billion.

In the first 11 months of this year, the TAIEX recorded a 10.91-percent growth with trading volume also seeing marked improvement compared to the same period last year, said the TWSE.

In addition, the TWSE rated overall return-on-equity (ROE) performance for the brokerage sector at 3.59 percent, with earnings-per-share (EPS) averaging at NT$0.506. Of which, ROE performance for full service brokerage and specialized private broker firms were rated at 3.51 percent and 5.14 percent, respectively, with EPS averaging at NT$0.49 and NT$0.983.

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