China’s Newest Move to Support Stocks Seen Limited in Impact
- Central Huijin Investment lifts stakes in Big Four bank stocks
- State fund increased its holdings for first time since 2015
This article is for subscribers only.
China stepped up its intervention in the stock market, with the sovereign wealth fund increasing its stake in the country’s biggest banks for the first time since 2015, a move seen as having a limited impact.
Central Huijin Investment Ltd. bought about $65 million of shares in four banks including Industrial & Commercial Bank of China Ltd. and Bank of China Ltd. and committed to increase holdings over the next six months.