Date
20 October 2017

Online-fee war brews among brokerages, paper says

The nation’s brokerages may be on the verge of a commission war as they try to attract online investors, National Business Daily reported Friday. Sinolink Securities Co. Ltd. (600109.CN) fired an early shot Thursday when it launched its Yongjinbao product on Tencent Holdings Ltd.’s (00700.HK) online securities platform, charging fees as low as 0.02 percent, or about as much as the general cost to brokerages. An industry insider said it might be necessary to lower commission rates for online customers but it is also important to offer different services for different types of customers, the report said.

– Contact HKEJ [email protected]

TL/AC/SK

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