According to the bourse operator Hong Kong Exchanges and Clearing BNP Paribas Asset Management a subsidiary of BNP Paribas recently cut its H-share holding in Chongqing Iron & Steel Co Ltd to 4.84% from the previous 5.25%.

Information from the HKEx showed that BNP Paribas Asset on November 10th sold 2.26 million H shares of the Chinese company for HKD 6.91 million. The average price of the share transaction was HKD 3.06 apiece.

Chongqing Iron said its profit attributable to equity holders dropped 95.56% from a year ago to CNY 35.33 million in the first nine months of this year under the Chinese accounting standards. Earnings per share were CNY 0.02. Q3 profit fell 98.81% to CNY 3.7 million.

(Sourced from China Knowledge)