China's NSSF cuts stake in Dalian Port

Published: 02 Sep 2009 00:07:42 PST

Top 5 News From ChinaKnowledge.com

China Unicom, Chunghwa Telecom to set up mainland JV
Chinese stocks open nearly flat on Wed
Hang Seng Index opens 312 points lower on Wed
CNOOC inks deal with Qatar Petroleum
CNTA relaxes requirements for foreign-invested travel agencies

Sep. 2, 2009 (China Knowledge) - China's National Social Security Fund, the country's national pension fund, on Aug. 27 cut its shareholding in Dalian Port Co Ltd<2880> to 5.79% from the previous 6.07%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

HKEx said that the Chinese pension fund on Thursday sold 3 million shares of Dalian Port for HK$10.71 million. The average share price of the deal was HK$3.57 apiece.

However, in the period from from Jul. 24 to Aug. 26, U.S.-based investment company Fidelity International Ltd bought 43.69 million shares of Dalian Port, raising its stake in the Chinese company to 12.02%.

Shares of Dalian Port gained 2.1% to end at HK$3.41 yesterday.