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    Market Report - Bank of China Declines


    by NTDTelevision

    In today’s market report… Asian shares added to recent losses, while Bank of China declined in Hong Kong after announcing nearly $6 billion in planned fundraising.

    China's largest foreign exchange lender became the latest Asian financial firm planning to shore up its capital base with a convertible bond issuance.

    Chinese banks embarked on a major lending spree last year to help the mainland recover from the global financial crisis. Now, they need to raise billions of dollars.

    Elsewhere, regional markets were mostly lower, but supported by expectations U.S. Federal Reserve Chairman Ben Bernanke was moving towards confirmation for a second term.

    Last week, Bernanke’s reappointment appeared in doubt, spooking investors’ worries about a period without oversight.