Securities firms' net profits rise over 176%
By Kathryn Chiu, The China Post
April 10, 2014, 12:04 am TWN
TAIPEI, Taiwan -- Aggregate net profit of securities companies operating in Taiwan enjoyed a 176-percent annual increase to NT$3.6 billion in March and a 75-percent yearly growth to NT$8.2 billion in the first three months of the year.
Taiwan Stock Exchange (TWSE) stats showed that the congregated net profit for securities companies in Taiwan amounted to NT$3.6 billion in March, a 176.92-percent growth from NT$1.3 billion the previous year.
The TWSE said that it saw a remarkable decline in default cases in March, showing that the local equity market continues to warm up.
Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) in March ended at 8,639.58, a 209.7-point, or 2.43-percent, rise from the last session of February. The daily turnover averaged NT$97 billion, showing a monthly increase of NT$4.4 billion or 4.8 percent from NT$92.6 billion of a moth earlier.
Securities companies operating in Taiwan garnered a total of NT$4.6 billion in brokerage fee, increasing 31.43 percent sequentially from NT$3.5.
Taiwan's tax revenues rose 4.9 percent year on year to NT$68.3 billion in February, with the first-two-month revenues totaling NT$194.7 billion, up 5 percent year-on-year, of which the securities trading revenues sharply rose 27.5 percent or NT$2.6 billion to NT$12.3 billion, a new 13-year high, according to the statistics released by the Ministry of Finance (MOF).
MOF targets securities trading tax revenues for this year at NT$87.1 billion based on average daily securities trading value of NT$116.6 billion. In January the average daily securities trading value reached NT$122.5 billion and in February came to NT$117.8 billion, generating tax revenues of NT$12.3 billion.