Fri, Apr 18, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Chinese sovereign wealth fund boosts stakes in nation’s lenders

Posted on 18 June 2013

Central Huijin Investment Ltd., a unit of China’s sovereign wealth funds, increased its stakes in the nation’s four biggest banks last week. Central Huijin bought 19.3 million yuan-denominated A shares in Industrial & Commercial Bank of China Ltd. (601398), 24.5 million in China Construction Bank Corp. (939), 18.5 million in Bank of China Ltd. (3988) and 42.9 million in Agricultural Bank of China Ltd. (601288) on June 13, the four lenders said.
Central Huijin will continue to buy shares in the banks in the following six months, according to the statements. The benchmark Shanghai Composite Index (SHCOMP) has retreated 11 percent from this year’s high set on Feb. 6 amid concern the economic recovery will falter. Mainland-traded shares of AgriBank have dropped 4.6 percent this year while those of the other three biggest banks are virtually unchanged………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 13908 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930