Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
Categories:

Archives:
Meta:
December 2024
S M T W T F S
« Oct    
1234567
891011121314
15161718192021
22232425262728
293031  
08/25/07
Chinese banks reveal exposure to crisis
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 8:01 pm

SHANGHAI, China - Chinese banks are just beginning to disclose their exposure to the U.S. subprime mortgage crisis, sending some bank shares plummeting in Hong Kong. Bank of China saw its Hong Kong stock price fall by as much as 8.1 percent Friday in reaction to the bank’s report that it holds $9.65 billion in subprime asset-backed securities and collateralized debt obligations. That’s 3.8 percent of its total securities investments.  More…

Leave a Reply