HK insurer Yunfeng hits 6-wk high on plan to lift stake in unit

Yunfeng Financial

18/12/2019 06:48

** Shares of Yunfeng Financial Group Ltd  0376.HK  surge as
much as 13.3% to HK$3.84, their highest since Nov. 8, after co
says it will raise its interest in a unit     
    ** Stock is 12th biggest percentage gainer in afternoon
trade
    ** Co plans to raise stake in Hong Kong insurance unit YF
Life Insurance International Ltd to 69.8% from 60% for HK$1.56
billion ($199.4 mln), tightening control over its life insurance
businesses  urn:newsml:reuters.com:*:nFWN28R07X
    ** YF Life is also licensed to sell life insurance products
in Macau 
    ** Stock is down 27.1% this year, as of Tuesday's close 
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.2%, while the benchmark index  .HSI  eases 0.2%
    ** Yunfeng Financial has underperformed the Hang Seng
Finance Index sector  .HSNF  by 6.4 percentage points in the
past one month
        


($1 = 7.8249 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)