Changes in Hong Kong stocks | Domestic insurance stocks collectively rise, central bank swaps of 100 billion yuan to facilitate operation, institutions say insurers' valuations can be expected to be repaired

The Zhitong Finance App learned that domestic insurance stocks rose collectively. As of press release, China Taibao (02601) rose 4.40% to HK$27.5; China Financial Insurance (02328) rose 2.60% to HK$16.96; China Life (02628) rose 2.34% to HK$25.38; and Ping An of China (02318) rose 2.09% to HK$51.35.

According to the news, on November 2, the People's Bank of China, together with the General Administration of Financial Supervision and the Securities Regulatory Commission, held two symposiums on the same day: facilitation of swaps and stock repurchases, increasing holdings and refinancing. The meeting made it clear that the refinancing policy for stock repurchases and increasing holdings was changed from a phased arrangement to a long-term institutional arrangement, and the reloan interest rate was reduced from 1.25% to 1%. The central bank announced today that according to the needs of participating institutions, it launched a convenient exchange operation for securities, funds, and insurance companies on the same day. The operating amount was 100 billion yuan. Using the rate bidding method, 31 securities and fund companies participated in the bidding, and the winning bid rate was 10 bps.

Cathay Pacific Haitong Securities pointed out that on the debt side, the decline in the premium growth phase for new life insurance policies on a high base will not change the strong trend of long-term insurance savings demand, improving the product term structure to support value growth; on the asset side, the profit stage is under pressure under pressure under pressure from fluctuations in the equity market. It is expected that insurance companies will dynamically adjust their share and bond allocation strategies based on the external market environment to promote steady profits and dividends. The current stock price responds to extremely pessimistic investment-side expectations, and the valuation repair space of listed insurers can be expected with a steady recovery in interest rates.