Zhejiang Shibao (HKG:1057, SHE:002703) purchased 35 million yuan worth of a wealth management product from China CITIC Bank (HKG:0998, SHA:601998), according to a Sunday filing with the Hong Kong Stock Exchange.
The product, a close-ended, principal-protected product with floating income, has a term from Aug. 1 to Oct. 30 and an expected rate of return of between 1.05% and 2.37% per annum, the filing said.
Shares fell 5% in Shenzhen and 3% in Hong Kong during Monday's afternoon trading.
Price (HKD): $2.11, Change: $-0.09, Percent Change: -4.09%
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