Last month the Hong Kong-listed arm of China's largest investment conglomerate, China International Trust and Investment Corp, shocked the market with news it faced $2bn in possible foreign exchange losses.
Citic Pacific had committed to large purchases of Australian dollars in the expectation that the currency would continue its multi-year rise against the US dollar.
When the opposite happened in recent months, it left the company exposed to losses that could widen even further depending on the Australian dollar's future performance against the greenback.
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