Shanghai’s key stock index ended lower yesterday following the tumble of the United States market, but the textile sector narrowed the losses on the news of a rise in textile export rebates.
The Shanghai Composite Index dropped 1.67 percent, or 33.71 points, to 1,983.76, after reaching an intraday low of 1,956.73.
Gainers outnumbered losers 435 to 412 [...]
China Pacific Insurance (Group) Co<601601>, the country’s third largest life insurer by premium, said the unaudited premium income from its two units amounted to RMB 82.9 billion in the first ten months of this year, according to its filing with the Shanghai Stock Exchange
During the Jan.-Oct. period, premium income of China Pacific Life Insurance totaled [...]
A consortium led by sovereign wealth fund China Investment Corp is in talks to buy a 49 percent stake in American Life Insurance Co (Alico), a unit of AIG (AIG.N: Quote, Profile, Research, Stock Buzz), in a deal that could be worth up to $10.6 billion, Japan’s Nikkei business daily reported on Friday.
The paper said [...]
The Shanghai market surged more than 3 percent yesterday, the last trading day of the week, with heavyweights leading the gains.
The benchmark Shanghai Composite Index rose 3.05 percent, or 58.83 points, to close at 1,986.44.
A total of 867 stocks gained. Only four fell and 37 remained unchanged. Turnover was 87.9 billion yuan (US$12.9 billion).
Tags: Insurance, [...]
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 [...]
China will allow insurance funds to invest in non-listed companies so as to increase their investment opportunities, China Insurance Regulatory Commission (CIRC) spokesman Yuan Li told reporters on Friday.
The State Council, or Cabinet, has given its approval to the idea and the CIRC was drawing up relevant measures, Yuan said.
Tags: CIRC, Fund, Insurance, investment
