Chinese insurance stocks listed in Hong Kong continued their upward momentum. As of press time, CHINA LIFE (02628) rose 3.86% to HK$25.3; ZA ONLINE (06060) gained 3.67% to HK$19.75; CPIC (02601) increased 2.57% to HK$37.58; and PING AN (02318) advanced 1.13% to HK$58.25.

On the news front, PING AN recently increased its stake in CPIC H-shares by approximately 1.74 million shares, bringing its total holding to 5.04% after the purchase. The company also boosted its position in CHINA LIFE H-shares by about HK$213 million, reaching a 5.04% stake post-acquisition. Both transactions triggered disclosure requirements as they crossed the 5% threshold.

China Merchants Securities noted that insurance companies' strategic investments continue to heat up, marking the first time in six years that insurers have made significant investments in industry peers. This move not only enhances portfolio returns but also reflects confidence in the fundamental recovery and long-term value of the insurance sector.

Minsheng Securities pointed out that policy tone has been positive since the beginning of the year, with more proactive fiscal policy and moderately accommodative monetary policy expected to continue boosting market sentiment. Policies encourage insurance companies, as long-term capital, to enter the market, with equity allocation expected to expand continuously. The extension of strategic investments to insurance stocks is anticipated to improve investment returns and drive revaluation of insurance stocks. The reduction in predetermined interest rates for life insurance is expected to lower insurers' liability costs.