Shares of Agricultural Bank of China Limited (OTCMKTS:ACGBY – Get Free Report) shot up 1.2% during mid-day trading on Monday . The company traded as high as $10.01 and last traded at $10.01. 4,200 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 15,885 shares. The stock had […]
Regulatory bodies seem to have exerted greater pressure on banks to extend credit to property developers, accelerating the whitelist project process beyond anticipations," remarked Raymond Cheng, the head of China research at CGS International.
Leading Chinese banks have injected billions of yuan into housing projects with the aim of financing the completion of pre-sold but yet-to-be-completed homes across the country.
As we enter February 2024, the Hong Kong market has shown resilience, with investors navigating through economic headwinds and finding pockets of growth amidst global uncertainty.
The bank will be the nation’s first big state bank to sell loss-absorbing bonds to plug a major funding shortfall before a 2025 deadline to meet global capital requirements