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China Stocks Shrug off Seizure of Anbang Amid Signs of State Support


Friday, 23 February 2018 15:32 WIB

Indeks Shanghai CompositeCSI 300 Blue-Chip


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China shares extended their rebound on Friday, shrugging off Beijing’s seizure of high-flying conglomerate Anbang Insurance Group amid signs the government is once again supporting the country’s stock markets after their recent rout.

The unprecedented takeover of a major non-state company underscores how far the communist Party will go in its growing campaign to reduce dangers to the financial system after years of break-neck growth.

The blue-chip CSI300 index ended up 0.5 percent to 4,071.09 points, while the Shanghai Composite Index gained 0.6 percent to 3,289.02 in a holiday shortened week.

Source : Reuters


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