05.12.2013 - Chinese fund sells off Japanese investments in retaliation
The Chinese government may withdraw investments in Japan as a way to retaliate against the United States and Japan for opposing China's newly established air defense identification zone. A shareholder listed as SSBT OD05 Omnibus China Treaty 808150, which is widely considered a Chinese sovereign fund, has reduced its Japanese investment by 600 billion yen (US$5.8 billion) between March and September this year, according to our Chinese-language sister paper Want Daily and the Tokyo-based Sankei Shimbun. The sovereign wealth fund had invested around 4.24 trillion yen (US$41.3 billion) in 174 Japanese businesses as of March this year but the figure had dropped by 607.4 billion yen (US$5.9 billion) as of the end of September. It was the ninth largest shareholder of the Toyota Motor Corporation with a 300.1-billion-yen investment in March but by September, it was no longer one of the Japanese carmaker's ten major shareholders, said Japan's Chibagin Securities...............................................Full Article: Source
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