China Life seems to have finished the consolidation above $36-level and it poises to resume an upward trend. By technical analysis, the counter has gained strong momentum above the 50-day moving average and sets to penetrate the previous resistance at $39.05 in the near term. Whenever it confirms a breakout from this critical point, the share price is likely to extend the recent minor upward trend heading towards $40.00. Meanwhile RSI-14 holds above 60-mark level and Stochastic Oscillator has unveiled a buying signal. Both technical indicators suggest the counter to stay on the strength side. This also supports the counter to trace further upward trend towards $42-level in the medium term.
Zurich Insurance, Baosteel to jointly buy 30.55 pct of New China Life - report September 23, 2007: 06:19 AM EST
Sep. 23, 2007 (Thomson Financial delivered by Newstex) --
BEIJING (XFN-ASIA) - Zurich Insurance Co and Shanghai Baosteel Group Corp will jointly acquire a 30.554 pct stake in New China Life Insurance Co (NYSE:LFC) from China's insurance protection fund, the Economic Observer reported over the weekend.
To avoid possible legal or policy hurdles, Zurich and Baosteel will possibly find another partner to wrap up the deal, the newspaper said, citing a source familiar with the matter.
Zurich and Baosteel will retain controlling power, it said.
No further information was provided.
Zurich currently holds 20 pct stake in New China Life, while World Bank arm International Finance Corp and Japan's Meiji Life Insurance Co hold a combined 4.9
Shanghai Baosteel Group Corporation is China's largest iron and steel maker. (China is the world's leading steel producer.) Baosteel makes steel formed as billets, tubes, pipes, bars, and plates, and iron and tin products. Its markets include the appliance, auto, construction, oil, and shipbuilding industries, both in China and abroad. Baosteel produces more than 20 million tons of steel annually. Its metallurgical activities are supported by more than 20 subsidiaries and affiliated companies, including operations in construction, finance, information technology, international trade, real estate, and transportation. Baosteel is state-owned.
Zurich Insurance Co., SA Ltd., formerly South African Eagle Insurance Co., Ltd., conducts all classes of short-term insurance business in South Africa. Its specialist products include marine, engineering and aviation insurance. It offers several niche products, including risk financing with cell captive facilities; the SA Eagle Legal Plan, which is a personal legal expenses insurance product; SA Eagle Legal Expenses Underwriting Managers; E-SCAPE, which is an electronic collection and payment system; SA Eagle Assist, which is a toll-free help line for emergencies, personal health, legal, tax and investment advice for domestic monthly and legal plan policyholders; SA Eagle Auto Assess, which assists policyholders for a minor accident claim; the Internet Monthly Policy , which offers brokers and agents a policy and claims management system via the Internet. It also offers products for the bed and breakfast industry, individuals or collectors of fine art, 4x4 owners, cyclists and bowlers.
China Life teams up with General Electric By Zhang Fengming 2007-9-25
CHINA Life Insurance (Group) Co has forged a strategic partnership with America's General Electric Co to explore finance and other industries together.
A memorandum of understanding outlining the alliance was signed yesterday in Shanghai.
China Life, the world's biggest insurer in terms of market capital, will pursue overseas expansion opportunities by teaming up with GE, ranked the globe's sixth-biggest company by Fortune magazine.
"The cooperation is a key development for both companies," said Yang Chao, president of China Life (Group) and chairman of China Life Insurance Co Ltd. "We will learn from GE's global experience, and GE can leverage our pool of 150 million clients."
The companies will set up a task force to map out their cooperation plans. The group will include Wan Feng, a China Life vice president.
"It's an exciting opportunity to join with China Life," said Jeff Immelt, GE's chief executive officer. "For GE to continue to grow in China, we need collaboration with a Chinese partner."
The two can "do many things together" such as helping China Life expand outside China, Immelt said.
China Life's large distribution network can offer a platform for new financial products, while GE will also team up with the asset management arm of China Life in seeking investment opportunities in the Chinese market.
Technical cooperation is also a possibility.
China Life reported income of 101.4 billion yuan (US$13.5 billion) in the first half, up 39.6 percent from a year ago. The insurer holds a 47 percent share of China's life insurance market, dominating all competitors.
Its rivals are seeking overseas investors for capital and expertise. Shenzhen-based Ping An Insurance (Group) has teamed up with HSBC as an investor, and Shanghai-based China Pacific Insurance Co has secured overseas investors including Carlyle Group and Prudential Financial.
China Life Insurance (2628, $43.20) 6M Target $50.0 Trading BUY
China Life rose 63% and 16% year-to-date and month-to-date respectively while Ping An (2318, $108.70) surged 153% and 36% year-to-date and month-to-date respectively. China Life is relatively a laggard.
Stripping out one-off deferred tax written back of RMB3.13bn under the new PRC tax law, the interim net profit of China Life grew 125% yoy from RMB8.97bn to RMB20.16bn.
Traded at 3.9x FY08 price to embedded value ratio, the valuation of China Life is attractive compared with that of Ping An of 5.0x.
We maintain buy on China Life and upgrade the 6-month target price from $42.0 to $50.0, representing 4.5x FY08 price to embedded value ratio and 16% upside potential.
Hongkong 03.10.07 (www.emfis.com) Während in China die Börse die gesamte Woche wegen der “ golden Week “ geschlossen bleibt, positionieren sich die Anleger in Hongkong. In der Erwartung, dass ab der kommenden Woche große Kapitalmengen von privaten chinesischen Investoren fließen werden und die mit der Qualified Domestic Institutional Investor (QDII) Lizenz ausgestatteten Unternehmen einsteigen, wird vorsorglich in Unternehmen aus China oder China – Bezug investiert. Das hebt den Hang Seng Index um 1,2 Prozent nach oben. Im Vormittagshandel war er bis auf 130 Punkte na die 29.000 Punkte Marke herangerückt. Das Handelsvolumen von 115,7 Mrd. HKD allein im Vormittagshandel stellt einen neuen Rekord dar. Der Börsenbetreiber Hong Kong Exchanges and Clearing Ltd (HKEx) schaffte zwischenzeitlich mit 249,60 HKD ein neues Rekordhoch. Gefragt war die Aktie von China Mobile. Das Schwergewicht schaffte mit 140 HKD ebenfalls ein neues Allzeithoch. Credit Suisse hat den Wert mit „outperform“ eingestuft und sein Kurs Ziel von 100 auf 145 HKD angehoben. Das Schwergewicht HSBC kann ebenfalls kräftig um 3,3 Prozent zulegen und nähert sich wieder ihrem alten Rekordstand von 152 HKD. China Life legt um 2,3 Prozent zu und schaffte erstmals den Sprung über die 50 HKD und markiert damit das nächste Allzeithoch. Die veröffentlichen Einzelhandelsumsätze in Hongkong, welche im August um 15 Prozent angestiegen waren, lässt die Aktie von Espit um 3,5 Prozent hochschnellen. Mit 133 HKD schaffte sie ihr neues Rekordhoch. Nach den massiven Kursgewinnen der letzten Tage müssen heute die Immobilien Werte abgeben.
das ich keine Kurse für den 12.10 habe und in meinem Depot CL nich Hanbdelbar ist und nach Auskunft meiner Bank Folgenge Tietel ne neue Wkn bekommen haben ! China Life :AOM4XJ Beijing :AOM4W2 Dongfeng :AOM4XY
Das ist deren Aussage Find ich auch komisch ist aber so.