China insurers jump in hong kong amid pension fund speculation – yahoo singapore finance
The Hang Seng China Enterprises Index climbed 1.6 percent to 9,840.26 at close. The boxer chords Insurers accounted for five of the seven biggest gainers on the gauge, with China Life Insurance Co. 1111 binary having its largest one-day advance since August 2015. Us futures market Analysts had a range of reasons for the sudden rally, from speculation Chinese pension funds are about to enter the stock market to bets higher borrowing costs would boost investment yields.
Investors have been waiting for the country’s local retirement savings managers to put their money into equities after policy makers announced rule changes in 2015. Texas baseball roster China last week raised the interest rates it charges in open-market operations and on funds lent via its Standing Lending Facility.
“H shares are rallying as investors are speculating that pension funds will be allowed to invest in the stock market soon,” said Linus Yip, First Shanghai Securities strategist in Hong Kong.
Usd thb “It’s a big positive catalyst for insurers, who are managers of most of those funds, as they will be able to diversify their portfolios and investment yields will get boosted.”
Chinese investors are returning from the week-long Lunar New Year holiday that ended on Feb. Cattle futures market news 2 after turnover on the nation’s exchanges slid Friday to the lowest for full-day trading since August 2014.
The Hang Seng Index rose 1 percent, while the Shanghai Composite Index added 0.5 percent. Stock market trading hours india China Life surged 7.5 percent in Hong Kong, while New China Life Insurance Co. 1 usd to cop gained 6.8 percent.
The country’s pension fund managers have been handing over some of their cash to the National Council for Social Security Fund, which will oversee their investments in securities including equities. Gold vs usd chart The pension system has long suffered low returns by limits on its investments to deposits and government bonds.
China’s 10-year sovereign bond yield was at 3.5 percent on Monday, matching its highest level this year. Exchange rate us to aud The central bank has been tightening cash supply since August to curb leverage in the financial system and support the exchange rate.
“The central bank’s rate hike moves have improved market confidence,” said Jerry Li, analyst with China Merchants Securities Hong Kong. Definition of binary “The uptrend in government bond yields is beneficial to insurers as their valuations are based on assumptions of long-term investment yields.”
• Foreign investors bought a net 2.15 billion yuan ($313 million) of mainland shares through the trading link between Hong Kong and Shanghai exchanges, the most since August, according to data compiled by Bloomberg. Market value of futures Mainland investors bought a net 1.8 billion yuan of Hong Kong stocks via the link
• Agricultural stocks, including Liaoning Wellhope Agri-Tech JSC Ltd. Binary search c program and Shandong Denghai Seeds Co., rallied after China released a rural policy document to promote development in the sector
–With assistance from Kana Nishizawa and Amanda Wang To contact the reporter on this story: Jeanny Yu in Hong Kong at email@example.com. Dollar euro exchange rate history To contact the editors responsible for this story: Richard Frost at firstname.lastname@example.org, Ron Harui, Sarah McDonald
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