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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Temasek reduces stake in 2 Chinese banks

Posted on 04 May 2012

The Singapore state investor Temasek Holdings sold shares in China Construction Bank and Bank of China for $2.5 billion, term sheets for the sales show, in a move that reshuffles the fund’s sprawling $150 billion portfolio but still leaves it betting heavily on China’s long-term potential.
Shares in Chinese banks have rebounded this year — the Hong Kong subindex of financial stocks has risen about 15 percent in the year to date, after a 27 percent decline last year — though the outlook for the sector is clouded by slowing economic growth and political and regulatory hurdles, and China’s four biggest lenders posted weaker-than-expected quarterly earnings last week………………………………………..Full Article: Source

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