JPMorgan cuts stake in Dongfeng Motor to 6.86%

U.S.-based financial holding company JPMorgan Chase & Co recently cut its H-share holding in Dongfeng Motor Group Co Ltd<0489> to 6.86% from the previous 7.04%, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx)<0388>.

HKEx said that JPMorgan sold 5.206 million H-shares of the Chinese automaker on Jun. 25 for HK$32.8 million. The average share price of the transaction was HK$6.3 per share.

H-shares of Dongfeng Motor dropped 2.23% to end at HK$6.58 on Tuesday.