China's Ping An falls further, mainland developers drop in volatile trade

Agile group

09/11/2023 03:25

** Hong Kong shares of Ping An Insurance  2318.HK  fall 1.8%
to HK$37.80, lowest since Nov. 11, in their third session of
decline
    ** Stock biggest pct loser in Hang Seng Finance Index
 .HSNF  
    ** Ping An's Shanghai stock  601318.SS  declines 2.9% to
43.34 yuan, lowest since Nov. 29, 2022 
    ** Reuters reported that China's State Council has
instructed the local government of Guangdong province to help
arrange a rescue of Country Garden  2007.HK  by Ping An 
    ** Ping An denied the information reported by Reuters and
said it has "not been asked by (the) Government to takeover
Country Garden" 
    ** Country Garden drops 8.4% after rising 12.2% on Wednesday
    ** Other Chinese developers also fall after recent rally
    ** China Evergrande  3333.HK , CIFI  0884.HK , Kaisa
 1638.HK , Shimao  0813.HK  and Gemdale  0535.HK  down 5% to
8.2%
    ** Agile  3383.HK , Sino-Ocean Group  3377.HK , China Vanke
 2202.HK , Longfor  0960.HK  and Sunac  1918.HK  fall 2.2% to
4.6% 
    ** Hang Seng Mainland Properties Index  .HSMPI  drops 3.7%, 
Hang Seng Index  .HSI  slips 0.5%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))