China Sovereign Wealth Fund Buys Shares in Big Four Banks

(Bloomberg) — China’s sovereign wealth fund snapped up shares in the nation’s Big Four lenders and said it plans to continue the purchases in a move apparently aimed at bolstering the stocks.

State-owned Central Huijin Investment Ltd. said in filings to the Shanghai stock exchange Wednesday that it raised its stakes in Bank of China Ltd., Agricultural Bank of China Ltd., China Construction Bank Corp. and Industrial and Commercial Bank of China Ltd. (ICBC). It said it would continue the purchases over the next six months, without saying to what extent.