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Hong Kong stocks are volatile | Mainland insurance companies collectively decline, market concerns about excessive demand for "opening red". Institutions still bullish on premium income performance.
Mainland insurance companies collectively fell. As of press time, New China Life Insurance (01336) fell by 4.93%, closing at 27 Hong Kong dollars; China Pacific Insurance (02601) fell by 4.63%, closing at 26.75 Hong Kong dollars; China Life Insurance (02628) fell by 4.45%, closing at 16.32 Hong Kong dollars; The People's Insurance (01339) fell by 1.93%, closing at 4.06 Hong Kong dollars.
HK stocks anomaly | Insurance sector rebounds in the morning, with liabilities and assets improving significantly, sector valuation expected to continue to rise.
Insurance stocks rebounded in early trading. As of the time of publication, The People's Insurance (01339) rose by 4.82% to HKD 4.13; New China Life Insurance (01336) rose by 4.65% to HKD 28.15; China Life Insurance (02628) rose by 4.42% to HKD 16.96; Ping An Insurance (02318) rose by 2.91% to HKD 49.45.
Social security fund heavyweight stocks arrived in the third quarter!
With the completion of the third quarterly report disclosure, the social security fund's holding positions in the third quarter have gradually emerged. According to Wind data, as of the end of the third quarter, the social security fund appeared in the top ten circulating shareholders of 563 listed companies, with a total of 377 stocks held by the social security fund exceeding one billion, accounting for 66.96%. Social security fund's heavyweight in fund is mainly concentrated in the banking, insurance, and other large financial industries. The agricultural bank of china, industrial and commercial bank of china, the people's insurance, bank of communications are the top four holding positions of the social security fund, with holdings valued at 112.901 billion yuan, 76.21 billion yuan, 41.706 billion yuan, and 22.978 billion yuan respectively.
[Brokerage Focus] Guolian maintains a 'buy' rating on PICC Group (01339), indicating that the equity market warming up is expected to boost investment returns.
Jingu Finance News | Guolian Securities released research reports, stating that PICC Group (01339) announced the third quarter report of 2024, achieving insurance service revenue of 403.765 billion yuan in the first three quarters, a year-on-year increase of 6.1%; net income attributable to the parent company was 36.331 billion yuan, a year-on-year increase of 77.2%. The combined ratio of PICC P&C insurance was 98.2%, an increase of 0.3 percentage points year-on-year. The bank stated that 1) the NBV of PICC Life Insurance in the first three quarters of 2024 increased by 113.9% year-on-year, and the NBV growth rate rose again compared to 2024H1 (+91.0%), the bank expects this to be mainly due to another planned interest rate cut and the company's accumulation.
The Smart Hong Kong Stock Early Access | Xiaomi autos delivered 0.02 million units in October, with gold prices continuing to rise.
Gold prices continue to rise, comex gold futures up 1.12%, trading at $2786.70 per ounce. Comex silver futures rose 1.84%, trading at $34.625 per ounce.
China People\'s Insurance Report for the Third Quarter of 2024
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