China Huarong rescue team hit by $5.6 billion paper loss as stock sinks

January 05, 2022 1:12 PM

HONG KONG (BLOOMBERG) – The state-controlled investors that were directed to bail out China Huarong Asset Management suffered a loss of some 26.4 billion yuan (S$5.6 billion) on Wednesday (Jan 5) as the bad asset manager resumed trading after a nine-month suspension.

Source : https://www.straitstimes.com/business/banking/huarong-rescue-team-hit-by-56-billion-paper-loss-as-stock-sinks