Asian shares were mostly higher on Friday but were off session highs by the afternoon after upbeat U.S. economic data spurred a strong risk-on rally.» Read More
Thomas Monaco, Managing Director, Mizuho Securities says that China's new rules to open up its insurance sector is good news for the sector as it will lead to more diversification.
SHANGHAI, Oct 10- China's major insurance companies increased their combined stock holdings by more than 10 billion yuan over the last three trading days and will continue buying equities, the official Shanghai Securities News said on Wednesday.
HONG KONG, Oct 9- Chinese asset management firm Harvest Global Investments will launch its exchange-traded fund denominated in yuan at the Hong Kong Stock Exchange on Friday, the first listed financial product to be traded in both yuan and the Hong Kong dollar.
China stocks are set to continue to rise after infrastructure stocks propelled the benchmark Shanghai Composite higher by 1.19 percent to end 2361.37 on Monday.
Kirk West, Executive Director, International Distribution, Principal Global Investors doesn't see a hard landing in China as long as the government continues its selective policy easing. He expects China's economy to grow by 9% this year.
Thomas Monaco, Managing Director, Mizuho Securities is downbeat about mainland insurers' performance in the next 9 to 18 months because of their increased exposure to tier 2 commercial banks which are currently facing liquidity and credit quality problems.
Ping An Insurance, the world's second-biggest life insurer by market value, said on Tuesday it plans to raise up to 26 billion yuan ($4.1 billion) by selling convertible bonds to replenish capital amid economic uncertainty.
Ping An Insurance (Group) Co of China has obtained regulatory clearance to invest in private equity and real estate, the official Shanghai Securities News reported on Wednesday.
Ping An Insurance, China's No. 2 insurer, said on Friday it was not concerned about a plan by Britain's Prudential to buy the Asia assets of U.S. insurer AIG, the market leader among foreign insurers in China.
1st paragraph of story should go here