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China's sovereign fund CIC buying shares in big banks - indicator to market bottom?

China's sovereign fund CIC buying shares in big banks - indicator to market bottom?
Last week Central Huijin, a unit of China's sovereign fund CIC, increased its shareholdings in the Big Four state banks in ChinaChina’s US$1.35 trillion sovereign fund boosts stake in Big Four banks (CNY intervention?) and said it will continue to increase its shareholdings of the banks in next six months.A snippet from HSBC on this, analysts at the bank point out that historical experience shows the market bottoms out within 30 trading days of Central Huijin's stock purchase. T... Read More
Posted: Oct 17 2023, 02:40
Author Name: forexlive
Views: 102236

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