State investment arm to shore up three Chinese lenders' shares with stock-buying plan
www.chinaview.cn 2008-09-18 19:34:59   Print

An investor is watching market in formation in Shanghai on Thursday.The benchmark Shanghai Composite Index closed at 1,895.84 points, down 33.21 points, or 1.72 percent. The Shenzhen Component Index closed at 6,563.07 points, down 116.99 points, or 1.75 percent.

An investor is watching market in formation in Shanghai on Thursday.The benchmark Shanghai Composite Index closed at 1,895.84 points, down 33.21 points, or 1.72 percent. The Shenzhen Component Index closed at 6,563.07 points, down 116.99 points, or 1.75 percent. (Xinhua Photo)
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    BEIJING, Sept. 18 (Xinhua) -- The Central Huijin Investment Co.,Ltd., an investment arm of the Chinese government, said Thursday it would buy the shares of three major Chinese lenders on the secondary market to shore up their share prices amid stock market slumps.

    The company said it would buy the shares of the Industrial and Commercial Bank of China, the Bank of China and the China Construction Bank and operations had started on Thursday.

    Central Huijin was set up in 2002 with a mission to reform state-owned banks burdened with a high ratio of non-performing loans.

China cancels stamp tax on stock buying to boost market confidence

    BEIJING, Sept. 18 (Xinhua) -- The Chinese government decided on Thursday to cancel stamp tax on stock buying, effective on Friday, in a move to encourage market confidence. Full story

China cuts stock stamp tax to 0.1% to support market

    BEIJING, April 23 (Xinhua) -- The Chinese government on Wednesday announced it is to cut the share trading stamp tax from 0.3 percent to 0.1 percent from April 24 in an effort to boost the equities market, which has fallen 46 percent from its record high on Oct. 16.

    Experts expected the long-expected concrete support measure to give a strong boost to weak investor sentiment, following heavy sell-offs this year. Full story

Feature: Wall Street at crossroads

People walk past the New York Stock Exchange September 15, 2008. (Xinhua/Reuters Photo)
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    NEW YORK, Sept. 17 (Xinhua) -- Tuesday, Sept. 16. It was meant to be a desperate day, especially for some people on Wall Street.

    Wall Street, in geographical meaning, is a long narrow street in the downtown Manhattan. At the intersection between Broadway and Wall Street stands the Trinity Church, with a green tomb yard spreading beside it.  Full story

Wall Street suffers 2nd worst day

    NEW YORK, Sept. 17 (Xinhua) -- Wall Street plummeted again Wednesday with Dow Jones losing 450 points, as investors became more worried that the financial crisis would continue to deteriorate.

    U.S. stocks Wednesday's plunge was like a rerun of Monday's nose-dive as investors flighted to commodities like crude and gold to seek safety. Full story

China stocks drop for third day despite banking sector rebound 

   BEIJING, Sept. 18 (Xinhua) -- Chinese stocks tumbled 1.72 percent on Thursday, the third fall in three days, though most shares of the heavy-weight banking sector rebounded from heavy losses in the previous two days.

    The benchmark Shanghai Composite Index closed at 1,895.84 points, down 33.21 points, or 1.72 percent. The Shenzhen Component Index closed at 6,563.07 points, down 116.99 points, or 1.75 percent. Full story 

Editor: Yao
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