Ping An shares fall on report HSBC plans exit

Shares of China’s No.2 insurer Ping An Insurance fell more than 2 percent in early trade on Monday following a media report that HSBC Holdings is planning to sell its 15.6 percent stake in the Chinese company.

By 9:49 am, Ping An’s Hong Kong-listed shares were down 2.7 percent at HK$57.96. By comparison, the benchmark Hang Seng Index was up 0.4 percent.

via Business feed http://www.scmp.com/business/money/article/1085977/ping-shares-fall-report-hsbc-plans-exit