Deals
Chinese Banks Rally After Huijin Begins Increasing Holdings
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Agricultural Bank of China Ltd. jumped a record 12.8 percent in Hong Kong, leading a rally in the nation’s financial shares after state-run Central Huijin Investment Ltd. started buying the stocks.
Industrial & Commercial Bank of China Ltd., the world’s biggest lender by market value, gained 6.7 percent to close at HK$4.31 while Bank of China Ltd. climbed 7.7 percent after the arm of China’s sovereign wealth fund said it began buying shares yesterday in the four biggest banks. The cost of protecting China’s bank debt fell.