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Anbang-owned stocks decline in Hong Kong, China in sign of strain at country’s biggest asset buyer

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Shares of several publicly traded companies owned by Anbang Insurance Group are plummeting on the bourses of Hong Kong and mainland China, after the insurer said its chairman Wu Xiaohui is indisposed, in a sign of strain at one of China’s biggest asset acquirers amid a government campaign to impose financial discipline.
Declines were paced by China Merchants Bank Co., one of the country’s largest lenders, in which Anbang owns 10 per cent. Merchants Bank’s shares fell 4.7 per…

Zhang Shidong

The author Zhang Shidong

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