Goldman Sachs reported a 103 million US Dollars loss Asia in 2011

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Source: BBC
Goldman Sachs posted a 103 million US Dollars loss in Asia in 2011 as compared to a 2.1 billion US Dollars income in the preceding year. This is the first loss in the last two years. Experts attributed the loss to weaker China's equity market. The company was strongly impacted by fall in value of its stake in ICBC that posted a 517 million US Dollars loss last year. China's financial institutions faced weak performance due to worries on bad loans.
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