Recently, driven by the domestic stock market's upward trend, expectations for the securities industry's performance in the second quarter of this year are growing. Some securities firms that have already reported their earnings have received better results than expected, and major large firms are scheduled to continue announcing their earnings until early August.
According to the financial investment industry on the 27th, earnings announcements are scheduled for iM Securities on the 28th, Kiwoom Securities on the 30th, Korea Investment & Securities on August 6, Mirae Asset Securities on the 7th, and DAISHIN SECURITIES on the 15th. NH Investment & Securities and Samsung Securities are expected to announce their results at the end of this month and early next month, respectively.
Hyundai Motor Securities, which has already announced its earnings, reported a net profit of 20.7 billion won in the second quarter, an increase of 38.5% compared to the same period last year, while Shinhan Investment & Securities recorded 151 billion won, an increase of 14.9%. In contrast, KB Securities' net profit decreased by about 11% due to provisions related to real estate project financing, but major institutional sectors such as asset management and investment banking showed uniform growth.
The projections for the consolidated operating profit of four major domestic securities firms—Mirae Asset Securities, NH Investment & Securities, Samsung Securities, and Kiwoom Securities—for the second quarter are expected to be 1.352 trillion won, a 4.4% increase compared to the previous quarter, while the net profit forecast is expected to rise by nearly 7% to 1.016 trillion won.
The background for this strong performance is attributed to the stock market's boom, which led to an increase in transaction amounts. In the second quarter of this year (March 31 to June 30), the KOSPI index surged by 23.8%, and the average daily transaction amount rose from 82.364 billion won to 133.338 billion won, an increase of about 62%. The sharp increase in transaction amounts directly contributes to the growth in brokerage revenue for securities firms.
Additionally, the government's market stimulation policy and discussions in the political arena regarding the mandatory buyback of treasury shares and the expansion of shareholder return policies are also having a positive effect.
A researcher at Hana Securities, Go Yeon-su, noted, "With the revision of the commercial law, the influx of self-sufficiency into the domestic stock market will continue, and in a phase where interest rate cuts and stock market rises are intertwined, an excellent operating environment is being created for securities firms."
However, there are also concerns that this improvement in performance is mainly limited to large firms, and it requires further observation to see whether small and medium-sized securities firms will benefit significantly.