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Taxi company a darling for foreign investors
By Lydia Chen |
March 7, 2011, Monday
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Online Edition
Online Edition
SHANGHAI Qiangsheng Holding Co appeared to be the most favorite investment among mainland's licensed foreign stock players as data showed six overseas institutional investors have gobbled up shares of the local taxi operator.
In the fourth quarter of last year, Norges Bank, ING Group and Martin Currie Investment Management Limited all increased their stocks of Qiangsheng while Citigroup Global Markets Limited bought 4.23 million shares of the company.
Although France's Banque Indosuez reduced its holdings of Qiangsheng in the last three months of 2010, it still had 5.6 million shares at hand.
The five qualified foreign institutional investors, together with UBS AG, were now among the 10 largest shareholders of Qianghseng in the stock market.
Tangshan Sanyou Chemical Industries Co, Huatian Hotel Group Co, Fuyao Glass Industry Group Co, Qinchuan Machinery Development Co, Yabao Pharmaceutical Group Co, Baoji Titanium Industry Co, Zhengzhou Yutong Bus Co, Anyuan Industrial Co, Lingyuan Iron & Steel Co and Wuhan Zhongnan Commercial Group were also popular among foreign investors, according to Securities Times today.
But commodities seemed to lose appeal. UBS slashed its holding of Shandong Gold Mining Co by 3.99 million to 7.44 million shares. Credit Suisse (Hong Kong) Ltd dumped 3.22 million shares of Aluminum Corp of China Ltd. However, it still has 14.05 million shares of China's biggest aluminum maker.
In the fourth quarter of last year, Norges Bank, ING Group and Martin Currie Investment Management Limited all increased their stocks of Qiangsheng while Citigroup Global Markets Limited bought 4.23 million shares of the company.
Although France's Banque Indosuez reduced its holdings of Qiangsheng in the last three months of 2010, it still had 5.6 million shares at hand.
The five qualified foreign institutional investors, together with UBS AG, were now among the 10 largest shareholders of Qianghseng in the stock market.
Tangshan Sanyou Chemical Industries Co, Huatian Hotel Group Co, Fuyao Glass Industry Group Co, Qinchuan Machinery Development Co, Yabao Pharmaceutical Group Co, Baoji Titanium Industry Co, Zhengzhou Yutong Bus Co, Anyuan Industrial Co, Lingyuan Iron & Steel Co and Wuhan Zhongnan Commercial Group were also popular among foreign investors, according to Securities Times today.
But commodities seemed to lose appeal. UBS slashed its holding of Shandong Gold Mining Co by 3.99 million to 7.44 million shares. Credit Suisse (Hong Kong) Ltd dumped 3.22 million shares of Aluminum Corp of China Ltd. However, it still has 14.05 million shares of China's biggest aluminum maker.
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