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China’s US$1.35 trillion sovereign fund boosts stake in Big Four banks (CNY intervention?)

China’s US$1.35 trillion sovereign fund boosts stake in Big Four banks (CNY intervention?)
The South China Morning Post (may be gated) reported on China’s US$1.35 trillion sovereign wealth fund increasing its equity stakes in the nation’s four biggest banks:stoking speculation authorities are trying to shore up confidence in the market after an exodus of foreign funds and a slump in the local currency“This move, reminiscent of its actions during the 2015 Chinese equity market turmoil, signifies the government’s desire to maintain market stability,” Redmond Wong, China strategist at Sa... Read More
Posted: Oct 13 2023, 00:57
Author Name: forexlive
Views: 112245

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