China's CITIC Securities posts 58 pct fall in H1 profit

CITIC Securities Co Ltd , China's biggest brokerage, said on Wednesday its first-half net profit fell 58.0 percent, hurt by lower stock prices and a volatile stock market that made investors cautious and curbed their trading. Net profit for the six months to June fell to 5.24 billion yuan ($787.82 million) from 12.47 billion yuan a year earlier, the company said on Wednesday. In its preliminary report, CITIC had said its brokerage business, securities investment business and credit transaction b