Capital Group lifts Shinhan above 5%, cuts KB stake

US investment giant Capital Group has returned as a major shareholder in Shinhan Financial Group, lifting its stake above 5 percent as the Korean banking group steps up shareholder returns. According to a regulatory filing Wednesday, Capital Research and Management Company, a Capital Group affiliate, held 23.57 million shares in Shinhan Financial, which translates to a 5.02 percent stake. The holding makes the manager the third-largest shareholder in Shinhan Financial, behind the National Pensio