唔識轉做中文

HSBC downplays its talks with CIC

Hngkong and Shanghai Banking Corp chairman Vincent Cheng Hoi- chuen confirmed yesterday the bank's management has met with China Investment Corp officials, but said the meetings were of an ordinary nature.
Shares of HSBC Holdings (0005) surged 4.1 percent yesterday to close at HK$124.90 on reports that it may be in discussions to enlist the mainland sovereign wealth fund as a shareholder.
"We have quite an active investor relations program, where we frequently have contacts with funds, shareholders, and other potential shareholders," Cheng told reporters in Heilongjiang province. "Our meetings with CIC were just part of this program."
An Asia-based financial group analyst said CIC's potential investment in HSBC is simply a move aiming to grow the value of the mainland's sovereign fund. "It has nothing to do with the policies of the mainland government. After all, CIC also invested in Morgan Stanley and Blackstone previously," the analyst said. But the news could be viewed positively. "CIC chose HSBC as it finds the bank a good stock for bargain-hunting, or the fact that it has confidence in HSBC's future."
London's Sunday Telegraph reported that HSBC Group chairman Stephen Green has met with CIC officials several times in recent months to discuss the possible share buy.