October 30, 2017 / 2:12 PM / 2 months ago

CORRECTED-China's CITIC Securities reports 11 pct rise in Q3 profit (Oct 30)

(In Oct 30 item, corrects percentage rise to 11 pct from 12.2 pct in headline and first paragraph. Also corrects net profit to 3.00 bln yuan from 3.03 bln yuan in second paragraph)

SHANGHAI, Oct 30 (Reuters) - China’s biggest brokerage CITIC Securities Co Ltd reported an 11 percent rise in third-quarter earnings.

Net profit for July through September rose to 3.00 billion yuan ($452.86 million) from 2.70 billion yuan a year earlier, the company said in a statement to the Hong Kong stock exchange.

Brokerages are more subdued about prospects for this year after the stock market slump last year, with many cutting costs to boost capital and expecting to take a hit from tougher margin finance rules. ($1 = 6.6246 Chinese yuan) (Reporting by Engen Tham and Shu Zhang; Editing by Louise Heavens)

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