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2009-6-10 11:45:00 a.m. HKT, XFNA
DJ MARKET TALK: HSBC, China Life Both Ignore HSBC's JV News
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| 1133 [Dow Jones] HSBC (0005.HK) +1.9% at HK$65.20, China Life (2628.HK) +2.2% at HK$29.75, each following own path, mostly indifferent to news HSBC's China insurance JV gets regulatory approval, will start operations in 3Q. For HSBC, JV only starting up, any earnings contribution likely minimal in group context; for China Life, many foreign insurers, such as Manulife (0945.HK), have entered Chinese market via JVs, so far none have presented formidable challenges to domestic insurers. Volume for both unexciting, recent peaks - HSBC at HK$70.85, China Life at HK$30.80 - unlikely troubled any time soon. Ping An (2318.HK) remains halted.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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