TMCnet News
UBS Securities Buys into 23 Blue Chips in Shanghai, ShenzhenSHANGHAI, Feb 20, 2009 (SinoCast Daily Business Beat via COMTEX) -- UBS Securities Company, with a QFII (qualified foreign institutional investor) status, bought into 23 blue chip stocks for nearly CNY 200 million on block trade platforms of Shanghai and Shenzhen bourses while the Chinese stock market slipped into wild correction on February 19. Data show that the securities firm purchased 22.0908 million shares with CNY 199 million in capital. Target companies it bought into were mainly from financial and energy sectors and they were also components of CSI 300 Index, a cap-weighted index tracks the daily price performance of the 300 most representative renminbi-denominated A-share stocks listed on the two bourses. In particular, the securities firm bought 3.84 million and 2.97 million shares in Bank of Communications (SHSE: 601328) and Industrial and Commercial Bank of China (SHSE: 601398) respectively. UBS Securities used to purchase blue chips through block trades on November 6 and 7 last year and then benchmark Shanghai Composite Index leapt by over 15 percent in the following week. Source: www.cnstock.com (February 20, 2009) |