HK Stock Market Move | In the afternoon, the stock of PICC P&C, a property and casualty insurance company, saw its gains increase, rising by over 7%. The industry's first quarter profit and NBV performance were better than expected.

Property and casualty insurance stocks rose in the afternoon, with PICC P&C (02328) up 6.98% to HK$15.02, China Life Insurance (02628) up 4.41% to HK$31.22, China Pacific Insurance (02601) up 3.2% to HK$35.48, and Ping An Insurance (02318) up 2.88% to HK$66.05. On the news front, the first quarter report of the insurance industry in 2026 has been disclosed. Soochow released a research report stating that the industry's first quarter profits and NBV performance exceeded expectations. The bank pointed out that the insurance industry has benefited from economic recovery and rising interest rates. The proportion of sales of savings-type products has increased significantly, and it is expected that the liabilities side will continue to improve. Long-term prospects for health insurance and pension insurance development space are still promising. Zhongtai released a research report stating that since April, geopolitical risks have eased, equity markets have gradually stabilized and rebounded, but the insurance sector is being suppressed by lower-than-expected first quarter 2026 reports. The bank pointed out that this year, the pace of the insurance sector is clearly out of sync with the market. It sees opportunities for positioning after the market stabilizes and the pressure on first quarter 2026 earnings clears.