Chinese online insurer ZhongAn falls most in nearly 4 years as regulations weigh

ZhongAn Online P & C Insurance

12/08/2021 07:27

(Update stock prices, add milestones)
    ** Shares of Chinese online insurer ZhongAn  6060.HK  tumble
as much as 13.8% to HK$36.80, the biggest daily percentage
decline since listing in September 2017
    ** Stock hit the lowest since Jan. 18 on the second session
of fall; the fifth biggest percentage decliner on the Hong Kong
bourse
    ** China's banking and insurance regulator will step up its
scrutiny of online insurance companies, the state-backed
Shanghai Securities News reported on Thursday, widening a drive
to rein in country's internet platforms  urn:newsml:reuters.com:*:nL4N2PJ14V
    ** Peers Ping An Insurance Group's Hong Kong shares
 2318.HK  drops 2.6% in the biggest percentage decline since
July 27, while China Life Insurance Co Ltd's  2628.HK  Hong Kong
stock falls as much as 1.1%
    ** Hang Seng financials sub-index  .HSCIF  drops 1%
    ** The Hang Seng China Enterprises Index  .HSCE  slips 0.8%,
and the benchmark Hang Seng Index  .HSI  slides 0.5%
     

 (Shanghai Newsroom)
 ((Jason.Xue@thomsonreuters.com))