𝕏xCN first seen 1 d ago, last 1 d ago, peak #5
Ping An, China Pacific Insurance report steep Q3 profit drops
Original: Ping An Insurance and China Pacific Insurance have reported steep third-quarter drops in net profit as a stock market do
Ping An Insurance and China Pacific Insurance have reported sharp declines in third-quarter net profit, with both insurers attributing the drops to a stock market downturn that weakened their investment returns. The results highlight how China's sluggish equity markets are pressuring the country's major insurance groups, which hold large investment portfolios tied to market performance.
Why now: China's two leading insurers just posted steep profit declines caused by a stock market slump, raising concern about the sector's exposure to weak markets.
Ping An InsuranceChina Pacific InsuranceChina
Evidence
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