BEIJING | Mon Oct 10, 2011 4:04am EDT
The share purchases will start on Monday, it said.
The state banks are Industrial and Commercial Bank of China < 1398.HK > < 601398.SS >, Bank of China < 3988.HK > < 601988.SS >, China Construction Bank < 0939.HK > < 601939.SS > and Agricultural Bank of China < 1288.HK > < 601288.SS >. (Reporting by Aillen Wang and Kevin Yao; Editing by Ken Wills)
n">(Reuters) - Shares of Microchip Technology Inc (MCHP.O) could be poised to rally, backed by a cheap stock valuation and a healthy dividend, according to an article in Barron's.
The shares have been hurt by a semiconductor industry slowdown, but the company has turned a profit in 83 consecutive quarters, regardless of the state of the economy, the financial weekly said in its October 10 edition.
The article quotes one chief investment officer as saying there is no reason the shares should not be trading at least $40. They closed on Friday at $33.68.
(Reporting by Lewis Krauskopf, editing by Maureen Bavdek)
