More Chinese state companies announce share purchases in a sinking market ...Middle East

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More Chinese state companies announce share purchases in a sinking market
SHANGHAI/SINGAPORE Oct 19 (Reuters) – At least seven listed companies owned by China’s central government said late on Thursday that their controlling shareholders planned to increase holdings or buy back shares, as Beijing steps up efforts to stabilise sinking stocks. The announcements by the companies, including China State Construction Engineering Corp (601668.SS) and Aluminum Corp of China (601600.SS), came just days after 10 other central state-owned enterprises (SOEs) unveiled similar share purchase plans. They also follow moves by China’s state fund Central Huijin Investment Ltd to increase stakes in China’s “Big Four” state banks, as well as a slew of other supportive measures that

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