AIA leads slide in HK-listed insurers on report China to tax offshore insurance income
BUZZ-AIA leads slide in HK-listed insurers on report China to tax offshore insurance income ** Shares of AIA 1299.HK drop 9.2% to HK$70.6, set for the biggest one-day pct decline since April 2025, leading losses among Hong Kong-listed insurers on report China will tax offshore insurance income
** Stock on track for fifth session of decline, and hits lowest level since July 13
** Stock is top pct loser in benchmark Hang Seng Index .HSI and Hang Seng Finance Index .HSNF, which are down 1.9% and 2.6% respectively
** Caixin reported Chinese mainland tax authorities have started levying personal income tax on returns from offshore insurance policies, the latest sign of greater scrutiny of offshore investments
** Hong Kong shares of Prudential 2378.HK drop 6.5%, FWD group 1828.HK down 5.5%
** Hong Kong shares of HSBC 0005.HK and Standard Chartered 2888.HK down as much as 2.8% and 3.8% respectively
** Hong Kong-listed stock of China Life 2628.HK dips 2.3%, Ping An Insurance 2318.HK down 2.2%
(Reporting by Donny Kwok)
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AIA leads slide in HK-listed insurers on report China to tax offshore insurance income
Corrected: UPDATE 2-Hong Kong insurers' shares slump on report China to tax offshore insurance income