China's sovereign fund CIC buying shares in big banks - indicator to market bottom?

Last week Central Huijin, a unit of China's sovereign fund CIC, increased its shareholdings in the Big Four state banks in China

• China’s US$1.35 trillion sovereign fund boosts stake in Big Four banks (CNY intervention?)

and said it will continue to increase its shareholdings of the banks in next six months.

A snippet from HSBC on this, analysts at the bank point out that historical experience shows the market bottoms out within 30 trading days of Central Huijin's stock purchase.