China's sovereign fund CIC buying shares in big banks – indicator to market bottom?

<p>Last week Central Huijin, a unit of China's sovereign fund CIC, increased its shareholdings in the Big Four state banks in China</p><ul><li><a href="https://www.forexlive.com/centralbank/chinas-us135-trillion-sovereign-fund-boosts-stake-in-big-four-banks-cny-intervention-20231013/" target="_blank" rel="follow" data-article-link="true">China’s US$1.35 trillion sovereign fund boosts stake in Big Four banks (CNY intervention?)</a></li></ul><p> and said it will continue to increase its shareholdings of the banks in next six months.</p><p>A snippet from HSBC on this, analysts at the bank point out that historical experience shows the market bottoms out within 30 trading days of Central Huijin's stock purchase.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.