Streetbeat News

PIAIF

Ping AN Insurance (Group) Co. of China, Ltd.

http://www.pingan.cn/

CEO

Mingzhe Ma

Industry

Direct Life Insurance Carriers

Open

6.20

Mkt cap

122B

Volume

467

High

6.20

P/E Ratio

6.65

52-wk high

7.82

Low

5.92

Div yield

0.05

52-wk low

3.79

The Chinese real estate sector is facing continued troubles, sparking fears of a potential global market rout. China Evergrande Group Limited (OTC:EGRNF) cancelled a creditor meeting due to disappointing sales, causing its shares to drop by 25%. Other property developers such as Country Garden Group Limited (OTC:CTRYF) and Longfor Group Holdings Limited (OTC:LNGPF) are also feeling the squeeze, with Country Garden's shares down 7%. The situation is drawing comparisons to the 2008 banking crisis, with concerns that it could impact global growth.

Portfolio Pulse from Daniel Harrison

September 25, 2023 | 3:03 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.