The Zhitong Finance App learned that domestic insurance stocks continued to decline. As of press release, China Life Insurance (02628) fell 3.59% to HK$24.7; China Taibao (02601) fell 1.74% to HK$27.14; China Insurance (01339) fell 0.48% to HK$5.185; and Xinhua Insurance (01336) fell 0.32% to HK$43.76.
According to the news, recently, Liang Hong, founder of the 10 billion yuan private equity giant Hainan Shiva, said in the latest weekly report sent to fund holders that he learned that “some insurance asset management giants” had bought technology stocks at a high level in July, but cut their positions drastically in late September. The statement attracted a lot of attention and discussion in the market. However, Liang Hong did not disclose which insurance asset management institutions were involved, nor did he disclose the details of these agencies' transactions.
Open Source Securities released a research report saying that in the short term, pressure on the stock market and El Niño drag down financial insurance payments put significant pressure on insurers' three-quarter results. The active stock base index was -15.5% in the third quarter. In the medium to long term, insurance sector valuations and institutional holdings are still low. The logic of steady interest spreads due to fluctuations in long-term interest rates at the bottom and continuing decline in debt costs continues. Premium side growth is expected to continue under deposit migration. Industry long-term logic is beneficial to supporting sector valuations. Data such as investment performance, debt side, and COR for the third quarter may weaken from month to month, and style has become the main driver.