China’s 3 trillion yuan ($440 billion) insurance industry was largely insulated from the U.S. subprime crisis that hit AIG (AIG.N: Quote, Profile, Research, Stock Buzz) and other foreign firms, but the fallout poses the toughest challenge in a decade as profits tumble and demand for insurance products slumps.
China’s cautious regulators reined in the overseas adventures [...]
Hong Kong stocks Tuesday climbed 403.71 points or 3.24% to end the morning session at 12,861.65 points, with mainboard turnover standing at HK$22.00 billion.
Hang Seng China Enterprise Index, which tracks the overall performance of 43 Chinese mainland state-owned enterprises on the Hong Kong Stock Exchange, jumped 274.56 points or 4.31% to 6,651.52 points.
Tags: China-Life, HK, [...]
The insurance investment fund fell by 9.12 billion yuan ($1.33 billion) from September to 2.16 trillion yuan in October, said the China Insurance Regulatory Commission. This is the third time that the insurance investment fund posted a month-on-month drop this year.
Insurers’ deposits in banks rose 18.74 billion yuan in October, while it declined 13.73 billion [...]
Chinese stocks retreated on Tuesday amid a massive downward trend in neighboring markets.
The benchmark Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, tumbled 6.31%, or 128.06 points, to 1902.43 points after fluctuating between 2050.88 and 1889.87 points.
The Shenzhen Component Index on the smaller Shenzhen Stock Exchange dived [...]
Hong Kong shares rose 3 percent on Friday as energy stocks such as CNOOC (0883.HK: Quote, Profile, Research, Stock Buzz) cheered a jump in oil prices on worries over output cuts, while Wharf Holdings (0004.HK: Quote, Profile, Research, Stock Buzz) rose after a rating upgrade.
Local developer and port operator Wharf surged 8.4 percent after Merrill [...]
Chinese insurers’ investment returns dropped in the third quarter as they boosted fixed-income holdings and trimmed equities to curb losses from a stock market that has plunged almost 70 percent this year.
Investments averaged a 2.1 percent yield for the first nine months, down from 2.4 percent in the first half, China Insurance Regulatory Commission Assistant [...]
