Chinese equities plunged on Monday as the US credit rating downgrade jolted financial markets amid fears that the global economy may be heading back into recession.
Chinese equities plunged as the US credit rating downgrade jolted financial markets.
ICBC said Friday it had agreed to pay $600 million to take a lion's share of assets controlled by Standard Bank Group Ltd in Argentina, to extend its businesses in South America.
China's banking regulator on Friday urged banks to back the country's public housing projects by offering loans and discounts on lending rates to alleviate financing difficulties.
China and Japan called for global cooperation on Friday after a financial market rout signaled fear that Europe's debt crisis could spin out of control and the US economy may slide into another recession.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, fell 18.29 points, or 1.95 percent, to 919.19 on Friday.
China's stock index futures closed lower on Friday with the contract for August, the most actively traded, down 2.27 percent from the previous day to 2,896.2 points.
China's stocks tumbled more than two percent to a seven-week low following a sharp drop in the overnight US stock market that triggered investor worries over a new round of global recession.
Hong Kong stocks lost 938.6 points, or 4.29 percent, to close at 20,946.14 on Friday.
Mid-sized lender China Everbright Bank Co Ltd has delayed for a second time meetings with investors to promote a planned $6 billion Hong Kong share offering, IFR reported on Friday.
The approval of Great Wall Motor Co Ltd's proposed A-share initial public offering (IPO) by the country's securities regulator will enable the company to double its production capacity in the world's largest auto market, analysts said.
Trading in shares of Japanese-style food chain Ajisen (China) Holdings Ltd was suspended on Friday pending a statement, according to a filing from the Hong Kong bourse, Reuters reported.