securities firms-Q2 earnings

SEOUL, Sept. 10 (Yonhap) -- Securities companies in South Korea saw their net profit soar 20 percent in the second quarter of the year largely due to increased commission income from the spike in stock trading, data showed Thursday.

The combined net profit of 61 domestic securities firms came to 5.19 trillion won (US$3.88 billion) in the April-June period, compared with a net profit of 4.33 trillion won three months earlier, according to the data from the Financial Supervisory Service.

The companies' combined income from commission fees increased 32.5 percent on-quarter to 8.87 trillion won in the second quarter, aided by a surge in stock trading, while their combined income from their own investment or stock trading gained 45.8 percent to 5.98 trillion won over the cited period.

In the April-June period, stock turnover came in at 4,438 trillion won, sharply up from the previous quarter's 2,775 trillion won, according to the watchdog.

Their combined assets had stood at 1,256 trillion won as of end-June, up 158 trillion won, or 14.4 percent, from three months earlier, and debts gained 15.1 percent to 1,141 trillion won over the cited period.

Their capital base climbed 7.7 percent on-quarter to 115.1 trillion won at the end of June, the latest findings showed.

Meanwhile, three futures firms racked up a net profit of 36.8 billion won in the second quarter, up 12.8 percent from a quarter earlier, according to the latest findings.

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