In early trading on the 11th, securities stocks are surging. As funds flow into the domestic stock market and transaction value jumps, buying appears to be gathering on expectations that securities firms' revenue will increase.
As of 9:40 a.m. that day on the Korea Exchange, #Mirae Asset Securities is trading at 76,000 won, up 6,000 won (9.29%) from the previous trading day. Large-cap securities stocks such as Samsung Securities, Kiwoom Securities, and NH Investment & Securities are also showing gains of around 5% each. Shares of small and mid-sized securities firms are also rising. Daishin Securities, Hanwha Investment & Securities, and SK Securities are also up.
With a sharp increase in transaction value in the domestic stock market, securities firms' profits are also expected to grow. Jeon Bae-seung, an LS Securities researcher, said, "Immediately after the outbreak of war, domestic stock market transaction value surged to an average of 120 trillion won per day," and noted, "It has remained above 70 trillion won even recently."
He added, "This year's average daily transaction value was 62 trillion won in Jan., 69 trillion won in Feb.," and said, "So far in Mar. it is at 102 trillion won, marking a historic level." The view is that this surge in brokerage revenue at securities firms is feeding into expectations for improved results.
Jeon said, "From Jan. to the present in Mar. this year, the average daily transaction value is 78 trillion won, a 110% surge compared with 37 trillion won in the fourth quarter of last year," and analyzed, "First-quarter brokerage fee revenue in the domestic stock market is expected to double from the fourth quarter and increase to about three times the annual average of last year."