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Sovereign Wealth Funds Briefing - Categorized | Market, Trends

Hong Kong stocks fall as CCB drops on Temasek stake sale

Posted on 04 May 2012

Hong Kong stocks retreated from a seven-week high with China Construction Bank (939) Corp. leading the decline as Singapore’s sovereign wealth fund sold $2.4 billion of mainland lenders’ shares. Stocks also fell as unemployment in Europe climbed to a 15-year high.
China Construction Bank slid 3.1 percent on a report Temasek Holdings Pte. sold $1.6 billion of the lender’s shares. Esprit Holdings Ltd., a clothier that gets about 80 percent of sales in Europe, fell 4.3 percent. New World Development Co. led property companies down after the government sold land in one of the city’s most exclusive areas for less than estimated………………………………………..Full Article: Source

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