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China Railway has completed the issuance of 2 billion yuan of corporate bonds.
China Railway (0390) announces that the issuer, China Railway Limited, has obtained approval from the Shanghai Stock Exchange and registration with China Securities Regulatory Commission by virtue of the Permission for Securities Supervision of the China Securities Regulatory Commission (Document No. [2023]1327) to publicly issue corporate bonds not exceeding 60 billion RMB for professional investors. China Railway Limited will publicly issue technology innovation renewable corporate bonds (first tranche) for professional investors in 2024, with the issue size not exceeding 2 billion RMB (including 2 billion RMB) and the issue price of 100 RMB per bond. This tranche.
While Private Companies Own 24% of CITIC Securities Company Limited (SHSE:600030), Retail Investors Are Its Largest Shareholders With 49% Ownership
Key Insights The considerable ownership by retail investors in CITIC Securities indicates that they collectively have a greater say in management and business strategy 48% of the business is held
Hong Kong stocks fluctuate: China-affiliated brokerage shares fell across the board due to continued strict regulation in the industry, weakened trading, and pressure on sector valuations from mid-year reports.
According to the Wisdom Finance app, shares of China-affiliated brokerages fell across the board in early trading. As of publication, GF Securities (01776) fell 2.88%, to HKD6.07; Guolian Securities (01456) fell 2.73%, to HKD2.85; CSC Securities (06066) fell 2.19%, to HKD5.37; and Citic Securities (06030) fell 0.92%, to HKD10.78. In terms of the news, six departments including the China Securities Regulatory Commission and the Ministry of Public Security issued the "Opinions on Further Improving the Comprehensive Prevention and Punishment of Financial Fraud in the Capital Markets". SDIC Securities pointed out that the document is expected to provide enforcement for the securities market.
Citic Securities Initiates AppLovin at Buy With $105 Price Target
AppLovin (APP) has an average investment rating of outperform among analysts polled by Capital IQ, with price targets ranging from $57 to $115. Price: 87.52, Change: +0.56, Percent Change: +0.64
Market Chatter: Chinese Wealth Managers See Value Shrink by 600 Billion Yuan in June
The value of China's wealth management sector slid by more than 600 billion yuan month on month in June, Yicai Global reported, citing Ming Ming, chief analyst at Citic Securities (HKG:6030, SHA:60003
The central parity rate of renminbi is reported at 7.1291, down 26 points.
On July 2nd, the central parity rate of the RMB was reported at 7.1291, down 26 basis points from the previous trading day when it was reported at 7.1265. Over the past six months, the RMB exchange rate has shown resilience and served as a stabilizing force for Asian currencies. In the first half of 2024, despite fluctuations in response to changes in expectations for US Federal Reserve interest rate cuts, the RMB has maintained basic stability in a complex environment. According to Choice data, in the first half of the year, the onshore RMB exchange rate against the US dollar reached a high of 7.1096 and a low of 7.2693, but the RMB has remained resilient under pressure. This is especially noteworthy considering that, amid a strong US dollar, the RMB has remained more stable than many other emerging market currencies that have been rapidly depreciating.
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