Streetbeat News

PNGAY

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

http://www.pingan.cn/

CEO

Mingzhe Ma

Industry

Direct Life Insurance Carriers

Open

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52-wk high

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Ping An, a major shareholder of HSBC, is exploring ways to reduce its $13 billion stake in the bank. This move could have significant implications for HSBC's stock price and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 2:54 pm

Chinese authorities have reportedly asked Ping An Insurance Group to take a controlling stake in Country Garden, the nation's largest private property developer. The move is seen as part of the government's efforts to stabilize the real estate sector.

Portfolio Pulse from Charles Gross

November 08, 2023 | 10:34 am

Hong Kong stocks rallied on Friday, driven by strong consumer turnout and hopes of government stimulus. Alibaba Group Holding (NYSE:BABA) and JD.com Inc (NASDAQ:JD) saw their stocks rise due to successful Single’s Day presales promotions. Tencent Holdings Limited (OTC:TCEHY) also got a boost from its investment in J&T Global Express Limited's IPO. EV stocks, including Nio Inc (NYSE:NIO), XPeng Inc (NYSE:XPEV), and Li Auto Inc (NASDAQ:LI), rose after Tesla Inc (NASDAQ:TSLA) scrapped a discount on its Model Y EV. Financials China Construction Bank (OTC:CICHY), AIA Group (OTC:AAGIY), and Ping An Insurance Group (OTC:PNGAY) also rose despite heavy short-selling.

Portfolio Pulse from Daniel Harrison

October 27, 2023 | 1:41 pm

Concerns are growing over hidden debt in China's property sector, with Ping An Insurance Group's real estate subsidiary, Ping An Real Estate Co. Ltd, in focus. The company's bond has been fluctuating due to investor concerns about its ability to repay. The company's sales have been declining and there are questions about its off-balance sheet debt. The China Securities Regulatory Commission found that the subsidiary had covered up a 200 million RMB overdue debt tranche. The situation could potentially spark a broader contagion in China's financial services sector.

Portfolio Pulse from Daniel Harrison

October 16, 2023 | 5:00 pm

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