Insurer jumps on Fosun move
By Wu Yiyao in Shanghai | China Daily | Updated: 2016-08-12 07:43
New China Life shares increase on Fosun stake purchase
The share price of Shanghai-listed New China Life Insurance Company Ltd jumped 4.27 percent on Thursday, after the insurer announced that five companies controlled by Fosun Group had acquired a combined 5.01 percent stake in the insurer.
The insurer's Hong Kong-listed shares also gained 3.16 percent the same day and the news helped push the overall financial sector index up 1.2 percent in the A-share market and 0.7 percent in the H-share market.
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