Insurance funds on prowl for undervalued companies
By Li Xiang | China Daily | Updated: 2015-12-23 08:15
Stocks backed by aggressive, cash-rich insurance funds have become the newest names to woo investors in the A-share market.
Shares in Shenzhen-listed glass manufacturer CSG Holding Co Ltd, for instance, jumped by the 10 percent trading limit on Tuesday while wind power company Xinjiang Goldwind Sci & Tech Co Ltd saw its share price surge by 7.97 percent.
Their similarity comes in that both have been recent targets of insurance funds, that have been eagerly buying up what they consider to be undervalued stocks.
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