South Korea's Top Brokerages Post Record Second-Quarter Profit as Brokerage Stocks Weaken

South Korea's 10 largest brokerages reported combined net profit of 5.9362 trillion won in the second quarter, a record high and up 37% from the previous quarter and 141% from a year earlier. According to Odaily, brokerage shares have remained weak despite the strong earnings, with the Korea Exchange securities industry index falling from a year-to-date high of 9,804.97 on May 9 to the 6,400 to 7,400 range in June, the 4,700 to 6,400 range in July, and 5,000 to 5,500 this month.