Shares of Chinese banks soar

Full Story: BBC

China, in order to boosting investor confidence shaken by foreign markets and domestic policy, has announced that was increasing its stake in banks, a step that has soared the shares of the big banks. Consequence to this announcement, shares in Agricultural Bank of China surged more than 12% on Hong Kong's main index, while Industrial and Commercial Bank of China rose 7% in early trade. Read more ....

Posted in: Stock