Bad performance to lower profit index

Securities firms have ended half-year performance announcement. By July 21, 2008, 47 securities firms have aggregately profited CNY16.44 billion, just 20 percent of last year’s profit. The weak performance led firms to adjust profit index.

Principal from Shenyin &Wanguo Securities Co., Ltd said that the company hasn’t received any instruction on adjustment, but it has been fixed that the company will follow the general market trend. Securities firms said that it is uncertain that whether they can profit for the second half and they will surely set profit index lower than that for the beginning of the year in the view of poor performance during the first half. (Securities Times)