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(U2)‌‌ Extends The Week’s Bear Leg

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CHINA PRESS: Chinese securities firms' asset management businesses shrank by
CNY673.97 billion in the second quarter this year, the first fall in three
years, due to tighter regulation, the Securities Times reported Friday. "Channel
transactions", in which securities companies invest mainly in non-standard
assets for other entities, decreased by CNY619.38 billion, the report noted.
Securities companies have started to turn to asset-backed securities (ABS), the
report said, adding over CNY1 trillion of ABS investments have been recorded in
the first half of this year. (Securities Times)

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