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Last night, china assets went "crazy."
Overnight, the nasdaq Golden Dragon china index rose over 8.5%, marking the best single-day performance since the end of September. Popular Chinese concept etfs surged collectively: the largest MCHI increased by 7.7%, the FXI, which tracks large Chinese companies in the Hong Kong stock market, rose over 8%, and the only major Chinese concept etf tracking the A-share market, ASHR, gained nearly 7%. The most insane increase came from the three times leveraged FTSE China, YINN, which soared 24% overnight and continued to rise over 2% after hours.
Ping An's MSCI ESG Rating Upgraded to AA, Tops APAC Multi-line Insurers & Brokers for Third Straight Year
Insurance stocks rose collectively, new china life insurance (01336) increased by 4.55%. Institutions expect that the pressure on the interest margin of insurance companies will gradually ease under regulatory guidance.
Jinwu Financial News | Insurance stocks have collectively risen, with New China Life Insurance (01336) up 4.55%, ZA Online (06060) up 4.07%, China Pacific Insurance (02601) up 3.83%, China Life Insurance (02628) up 2.8%, Sunshine Ins (06963) up 2.53%, and Ping An Insurance (02318) up 2.52%. Soochow believes that the current market demand for savings remains strong, and under the ongoing regulatory guidance encouraging insurance companies to reduce liability costs, the pressure on insurance companies' interest spread is expected to gradually ease. Recently, the yield on ten-year government bonds has fallen to around 1.96%.
Hong Kong stocks movement | Ping An Health (01833) rose over 16%. The company went ex-dividend today, distributing a special dividend of 9.7 Hong Kong dollars per share.
Ping An Health (01833) surged over 16%, as of the press time, up 16.42%, at HK$6.24, with a turnover of 0.19 billion Hong Kong dollars.
Hong Kong stocks have shown unusual movement | mainland insurance companies are rising as new regulations on insurance asset risk classification are introduced, which is expected to alleviate market concerns regarding the investment risk of insurance comp
Mainland insurance companies surged, as of the time of writing, china pacific insurance (02601) rose by 4.43%, closing at 25.95 HKD; picc p&c (02328) increased by 3.55%, closing at 12.26 HKD; china life insurance (02628) went up by 3.08%, closing at 15.38 HKD.
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