Page 35 - Citic News Today

The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the four-day slide in which it had stumbled more than 750 points or 4.

China Huarong Asset Management returned almost $2 billion to Citic Group through an investment, in a sign of closer ties after the financial conglomerate led a bailout of the bad debt manager two years ago, reports Caixin. Huarong agreed to buy a 5% stake in Citic for HK$13.6 billion ($1.7 billion) from another one of…

The halting revitalization of one “urban village” in Shenzhen shows the challenges of fixing a national property crisis after years of overborrowing.

The Hong Kong stock market has moved higher in two of three trading days since the end of the four-day slide in which it had stumbled more than 750 points or 4.4 percent.

CTPCY | A complete CTPCY overview by MarketWatch. View the latest market news and prices, and trading information.

State-owned China Huarong Asset Management said on Wednesday it has agreed to buy a 5.01% stake in CITIC Ltd for $1.75 billion.

The company, one of China’s largest distressed debt managers, will acquire a 5.01 per cent stake at HK$9.35 per share from Citic Polaris, a wholly owned subsidiary of Citic Group, and change its name to China Citic Financial Asset Management.

Investors who closely followed the stock picks of one of China’s most successful brokers are wandering in the wilderness—and wondering what will happen next to their unemployed luminary Wang Yawei.In April, and without warning, Wang resigned from his position as a star public funds manager for China Asset Management Co. Ltd.

By Sherry Qin Shares in China Huarong Asset Management rose sharply after the company agreed to buy a minority stake in Chinese state-run conglomerate Citic...

State-owned distressed-asset manager China Huarong Asset Management has agreed to buy a 5.01 per cent stake in Citic Limited for HK$13.6 billion (US$1.7…