04.05.2012 - Temasek, eyeing other options, pares stakes in China banks
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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