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Translated by : MOS Education Team – RD R
According to the Hong Kong Stock Exchange disclosure and reports by various media, on May 3, J.P. Morgan Chase reduced its holdings of more than 25 million shares of China Merchants Bank on April 28, making an arbitrage of HK$1.179 billion. And on April 19, J.P. Morgan reduced its holdings of Ping An Group of China by more than 40 million shares, both by more than 0.5% of the total number of the two stocks, with an arbitrage of HK$2.2 billion.
On the same day, J.P. Morgan also reduced its holdings in China Civil Information Network by 2.8 million shares, a reduction of more than 0.3% of the total number of shares in the branch. In addition, J.P. Morgan Chase is also involved in frequent transactions of other Chinese stocks. Industry observers point out that the recent selloffs in New York indicate it’s more than just another volatile emerging market.
The fundamentals of Communist China’s economy have been eroding really fast. For example, the stepdown of Tian Huiyu – the chief of China Merchants Bank, the plunge in net profit for the major real estate company Huaxia, the massive lockdowns in China in the name of the “0-COVID Policy”, the significant loss suffered by the aviation industry in the first quarter, all under the rule by the Chinese Communist Party.
Proofread & Edited by : Laura L
Chief Editor: Kayla J.
Posted by: Moli C.