JPMorgan Chase raises stake in China Shanshui Cement

Published: 08 Oct 2009 18:30:56 PST

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Oct. 9, 2009 (China Knowledge) - U.S.-based financial holding company JPMorgan Chase & Co recently raised its shareholding in China Shanshui Cement Group Ltd<0691> to 5.02% from the previous 4.89%, sources reported.

According to statistics released by the Hong Kong Stock Exchange, on Sep. 25, the U.S. company bought approximately 3.51 million shares of China Shanshui Cement for HK$19.36 million. The average price of the share transaction was HK$5.52 apiece.

JPMorgan Chase recently assigned a rating of "buy" for shares of BOC Hong Kong (Holdings) Ltd<2388>, the Hong Kong subsidiary of Bank of China<601988><3988>, and has set the target price at HK$18.1 per share, China Knowledge reported earlier.

Shares of China Shanshui Cement rose 1.35% to close at HK$6 on Thursday.