LONDON, Feb 13 (Reuters) - ** Prudential shares fall for a second day, down 1.3% after Thursday's 6.8% decline, which was the biggest one day drop since March 2023. Set for biggest two-day decline since April 2025's tariff shock

** Jefferies say fall is the product of read-across from Manulife MFC.TO results as the Canadian insurer's Hong Kong business suffered from changes to the financial hub's retirement savings Mandatory Provident Fund scheme

** Hong Kong is Prudential's flagship market. However, Jefferies argue the MPF changes are not relevant in Prudential's case.

**"Based on the last four quarters of sales, Prudential's Hong Kong broker exposure represents just c.11% of premiums," this would make "the group impact of quarterly volatility immaterial, and invisible in half-yearly accounts," they said in a late Thursday note.

(Reporting by Alun John; Editing by Amanda Cooper)

((alun.john@thomsonreuters.com;))