For HSBC, to sell or not to sell its valuable holdings in Ping An Insurance, China's No.2 life insurer, is apparently not a question any more. The more burning question may be to sell at what prices.
Following local media reports about HSBC's intention to sell its stake in Ping An, based in the southern Chinese boomtown of Shenzhen, bordering Hong Kong, HSBC, Europe's biggest bank by assets, said in a statement released to the media during lunch time on Monday in an effort to cool off market speculations, which has sanked Ping An's share prices during the morning trading session. Reported by S.China Morning Post 38 minutes ago.
Following local media reports about HSBC's intention to sell its stake in Ping An, based in the southern Chinese boomtown of Shenzhen, bordering Hong Kong, HSBC, Europe's biggest bank by assets, said in a statement released to the media during lunch time on Monday in an effort to cool off market speculations, which has sanked Ping An's share prices during the morning trading session. Reported by S.China Morning Post 38 minutes ago.