Home Stock & Shares Stocks linked to Anbang fall after report on company’s murky structure

Stocks linked to Anbang fall after report on company’s murky structure

by Paul

Stocks linked to China’s Anbang International are tumbling after a respected magazine published a detailed report examining the company’s murky structure.

A handful of real estate developers fell in Tuesday’s morning session — Gemdale tumbled 3.8 per cent, Financial Street Holdings dropped 3.5 per cent, China Vanke lost 1.8 per cent. Pharmaceutical company Dong-E-E-Jiao was down 3 per cent and retailer Chang Chun Eurasia fell 1.6 per cent during that period. China Railway, however, bucked the trend with a 1 per cent rise.

Anbang is a private firm, but its various arms are among the top 10 shareholders of a number of companies, owning anywhere from 3 per cent to 15 per cent, according to Reuters data.

Risk Warning:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News