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Ping An falls on report of acquisition loan halt
Ping An Insurance (Group) Co fell by the most in more than five months in Hong Kong trading after a media report that China Development Bank Corp halted loans for Charoen Pokphand Group Co's purchase of a stake in the insurer. Ping An tumbled 4 percent, the most since July 23, to HK$68.15 ($10.81) at the close of trading. The lender called off its HK$44 billion loans in December after learning about the existence of undisclosed Chinese investors behind the purchase, Caixin Online reported on Tuesday, citing an unnamed person.
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