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August 15, 2009

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CITIC Securities Co Stocks rally no help to earnings

CITIC Securities Co, China's biggest listed brokerage, posted a 19.77 percent fall in first-half earnings despite a sharp rebound in the domestic stock market.

Net profit fell to 3.83 billion yuan (US$560.5 million) from 4.77 billion yuan a year earlier, the Beijing-based brokerage said in a statement to the Shanghai Stock Exchange yesterday.


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