Shares finish lower on Anbang鈥檚 news
SHANGHAI shares ended lower yesterday after news that the chairman of insurer Anbang Group had been detained.
The Shanghai Composite Index shed 0.73 percent to end at 3,130.67 points.
Insurance firms led the decline, with China Life Insurance Co shrinking 3.48 percent to 27.49 yuan (US$4.05) and China Pacific Insurance (group) Co losing 3.38 percent to 31.69 yuan.
“Anbang’s news hurt the market,” said Zheng Shaorong, analyst at Sinolink Securities.
Wu Xiaohui, Anbang’s chairman, was taken away by authorities, the group said on Tuesday. The group cited “personal reasons” for his removal.
In May, Anbang was banned from issuing new life insurance products by the China Insurance Regulatory Commission.
China Minsheng Banking Corp, in which Anbang holds a 11.2 percent stake, fell 0.37 percent to 8.06 yuan, while Gemdale Corp, a property group where Anbang owns 20.4 percent, shed 4.34 percent to 10.57 yuan yesterday.
The International Monetary Fund’s forecast of a 6.7 percent growth for China’s economy this year, slightly higher than 6.6 percent last year, didn’t ignite the market.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.