BROKERAGES have reported a jump in February earnings as their trading and underwriting businesses benefited from China’s monetary easing and relaxed financing rules aimed at softening the economic blow from the coronavirus.

Major brokerage CITIC Securities Co.’s net profit in February jumped 37 percent from January, and is up 45 percent from a year earlier, according to media calculations based on monthly results of the parent company.

Guotai Junan Securities Co.’s results showed its net profit in February tripled from the previous month, while smaller brokerage TF Securities reported a nearly eight-fold earnings surge.

Results from dozens of other brokerages also point to a robust first quarter, setting them apart from other sectors such as tourism and entertainment whose operations have been hit by the epidemic.

“During the epidemic, investors are fully confident of the country’s ability to defeat the virus, and their market participation also increased on the back of stimulus measures,” said Cao Weidong, vice president of Yuekai Securities.

“The sectors’ first-quarter results are very promising.”

Brokerages’ trading and wealth management business benefited from a boisterous stock market that saw its main index jumping roughly 14 percent from January lows on the back of monetary easing.

(SD-Agencies)