China Strategic announcement affects shares

Netherlands News.Net
Monday 6th September, 2010

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The China Strategic company has sunk to an 11-month low in Hong Kong.

On Monday, shares of China Strategic Holdings fell as much as 46 percent after resuming trading following a suspension.

The group had been suspended after Taiwan regulators blocked it from buying a controlling stake in American International Group's Taiwan life insurance unit.

The fall-through of the planned $2.2 billion sale caused China Strategic to fall to as low as HK$0.28 after resuming trading in the afternoon.

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