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Sovereign Wealth Funds Briefing - Categorized | Market

Temasek, eyeing other options, pares stakes in China banks

Posted on 04 May 2012

Temasek Holdings, bracing itself for other investment opportunities in China and elsewhere, sold shares in two of China’s largest banks for US$2.5 billion (S$3.1 billion), according to term sheets seen by Reuters, in a reshuffle of its sprawling US$150-billion portfolio that still bets on China’s long-term potential.
Chinese banks’ shares have rebounded this year - the Hong Kong financial sub-index is up about 15 per cent - after last year’s 27 per cent slide, though the outlook is clouded by slowing economic growth and political and regulatory hurdles. The nation’s “Big Four” lenders last week posted weaker- than-expected quarterly earnings………………………………………..Full Article: Source

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