CITIC Securities, one of China's largest investment banks, saw its stock price surge 5.45% on Tuesday during intraday trading.
This rally came after CITIC Securities' special purpose vehicle unit, CSI MTN, issued two medium-term bonds worth $15 million on January 10th. These bonds are part of a larger $3 billion bond program launched by the company in 2022.
Investors viewed the successful bond issuance as a positive sign, signaling CITIC Securities' ability to raise funds and strengthen its financial position. This likely fueled increased buying interest in the company's shares, driving the stock price higher on the day.
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