China’s biggest brokerage, CITIC Securities Co Ltd , reported a 12.2 percent rise in third-quarter earnings.
Net profit for July through September rose to 3.03 billion yuan ($456.05 million) from 2.70 billion yuan a year earlier, the company said in a statement to the Shanghai stock exchange.
Brokerages are more subdued about prospects for this year after the stock market slump last year, with many cutting costs to boost capital and expecting to take a hit from tougher margin finance rules.
