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ICBC holds $152 mln of Lehman Brothers-related bonds
Posted on Sep-17-2008· by china investor
The Industrial and Commercial Bank of China announce both its mainland and overseas branches held a total of 151.8 million U.S. dollars in bonds of or related to the bankrupt U.S. investment bank Lehman Brothers.
ICBC shares dropped by the daily limit of 10 percent to 3.42 yuan (50 U.S. cents) on Wednesday in the domestic stock market.
Bank of China slid 6.31 percent to 2.97 yuan.It is reported to have extended 50 million U.S. dollars in credit to Lehman.
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