Qatar Wealth Fund Becomes ChinaAMC’s Third-Largest Shareholder - Bloomberg
China Asset Management Co. said Qatar Holding LLC became its third-largest shareholder after acquiring a 10% stake, marking the latest instance of Middle Eastern capital flowing into the world’s second-largest economy.
The Chinese company said its original backer Tianjin Haipeng Technology Consulting Co. transferred its stake, which was approved by the China Securities Regulatory Commission, according to a notice.
One of China’s largest asset managers, ChinaAMC’s two other major shareholders are Citic Securities Co., which holds a controlling stake of 62.2%, and Mackenzie Financial Corp., with a 27.8% interest.
ChinaAMC manages $362.4 billion in assets and serves about 300,000 institutional clients, according to its website.
Qatar Holding, a subsidiary of the sovereign wealth fund Qatar Investment Authority, is an active investor in some of the world’s biggest funds and banks.
Middle East funds have been investing in Chinese companies. Saudi Arabia’s Public Investment Fund invested $2 billion in Lenovo Group Ltd. last year. Abu Dhabi Investment Authority and Mubadala participated in an $8.3 billion deal for Dalian Wanda Group’s shopping mall management unit.
Sunday, 13 July 2025
Most Gulf stocks subdued as Trump steps up tariff threats | Reuters
Most Gulf stocks subdued as Trump steps up tariff threats | Reuters
Gulf equities ended mixed on Sunday, with stocks drifting in a tight range during a quiet trading session as investors sought clarity after U.S. President Donald Trump escalated his global trade war.
Trump threatened on Saturday to impose a 30% tariff on imports from Mexico and the European Union, following the announcement of a 35% duty on Canadian imports, both starting August 1.
He also proposed a blanket tariff rate of 15%-20% on other countries, an increase from the current 10% baseline rate.
Saudi Arabia's benchmark index (.TASI), opens new tab fell 0.2%, as mixed sector performance kept the market subdued ahead of key earnings.
Utilities heavyweight ACWA Power (2082.SE), opens new tab declined 2.4% as its rights issue offering ended.
Qatar's benchmark index (.QSI), opens new tab finished flat in a calm session, with telecom giant Vodafone Qatar (VFQS.QA), opens new tab gaining 1.2%.
Investors remained cautious as the U.S. Federal Reserve is widely expected to keep interest rates unchanged as it waits to see the impact of tariffs on price pressures.
With Gulf currencies pegged to the U.S. dollar, the Fed's decisions on interest rates impact the region's monetary policy.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab dropped 0.8%, hit by a 1% fall in Commercial International Bank (COMI.CA), opens new tab.
Egypt's central bank kept key interest rates unchanged on Thursday, pausing a trend of rate reductions despite inflation rates easing.
Gulf equities ended mixed on Sunday, with stocks drifting in a tight range during a quiet trading session as investors sought clarity after U.S. President Donald Trump escalated his global trade war.
Trump threatened on Saturday to impose a 30% tariff on imports from Mexico and the European Union, following the announcement of a 35% duty on Canadian imports, both starting August 1.
He also proposed a blanket tariff rate of 15%-20% on other countries, an increase from the current 10% baseline rate.
Saudi Arabia's benchmark index (.TASI), opens new tab fell 0.2%, as mixed sector performance kept the market subdued ahead of key earnings.
Utilities heavyweight ACWA Power (2082.SE), opens new tab declined 2.4% as its rights issue offering ended.
Qatar's benchmark index (.QSI), opens new tab finished flat in a calm session, with telecom giant Vodafone Qatar (VFQS.QA), opens new tab gaining 1.2%.
Investors remained cautious as the U.S. Federal Reserve is widely expected to keep interest rates unchanged as it waits to see the impact of tariffs on price pressures.
With Gulf currencies pegged to the U.S. dollar, the Fed's decisions on interest rates impact the region's monetary policy.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab dropped 0.8%, hit by a 1% fall in Commercial International Bank (COMI.CA), opens new tab.
Egypt's central bank kept key interest rates unchanged on Thursday, pausing a trend of rate reductions despite inflation rates easing.
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