SEOUL: South Korea’s brokerages swung to a provisional aggregate loss of 614.6 billion won (US$510.5mil) in the financial year ended March, hit by a 40% slump in the stock market, according to regulators.
Investment losses in a flagging market, combined with squeezed commission fees, dealt a harsh blow to the country’s 44 domestic securities houses, the Financial Supervisory Service (FSS) said in a statement yesterday.
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