Reported about 11 hours ago
Bank of China International Holdings Ltd. is reducing its presence in the commodities sector due to volatile price fluctuations that have eroded management confidence. The bank has cut its client base in this area by over two-thirds and has recently laid off staff in Shanghai and Beijing. This decision follows a broader trend among major financiers withdrawing from the commodities market, offering less support to its metals clients, while still maintaining ties with large Chinese state energy firms.
Source: YAHOO