HONG KONG
Share prices closed higher led by China stocks as the Shanghai bourse extended Friday’s 9.5 pct surge after Beijing took more measures to support its markets. Investors also welcomed the US government’s rescue plan for banks, though there are some doubts whether the bailout would end all the problems in the US. The Hang [...]
Filed under: Hong Kong Stocks, Chinese Stocks, China Property Market, Market Summary, Shenzhen Stock Exchange, Taipei Stock Market by CSMR
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China A-shares finished the morning sharply lower after three more Chinese banks disclosed their exposure to collapsed investment bank Lehman Brothers. Airlines also tumbled on a rebound in crude oil prices.
Financials were under pressure as confidence in the sector collapsed amid reports that more US institutions are seeking mergers to help them weather the credit [...]
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Bank of China (BOC), the country’s largest foreign exchange lender, said on Wednesday it had total exposure to failed U.S. investment bank Lehman Brothers of 128.82 million U.S. dollars.
The exposure, consisting of Lehman-related bonds of 75.62 million U.S. dollars and loans of 53.2 million U.S. dollars, accounted for 0.01 percent of the lender’s total assets [...]
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China A-shares closed sharply lower for a second day after China Merchants Bank announced a large exposure to Lehman Brothers, raising concerns about how much of the latter’s securities are held by other financial institutions.
China Merchants Bank (SSE:600036, HKG:3968) fell 9.96 pct to 14.47 yuan after tumbling almost 10 pct yesterday. It said it holds [...]
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