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Andy Mukherjee

Singapore's Swiss Hard Cheese

The Chinese group's investment in Deutsche Bank is unlikely to turn so sour.
Swiss Stock As Economy Set To Out Pace Neighbours
Photographer: Adrian Moser/Bloomberg

Sour grapes. That's a two-word description for the Singapore sovereign fund's decision to slash its shareholding in UBS Group AG at a loss after nursing the investment for nearly a decade.

But is the sale also a flashing neon "buyer beware" sign for HNA Group Co., the Chinese aviation-to-hotels conglomerate that recently boosted its stake in another European lender, Deutsche Bank AG? Probably not.