In today’s briefing:
- CSI300 Index Rebalance Preview: A Dozen Changes for June
- APAC Insurers Series (#4): How We See the 3 Insurance Stocks in 2024
CSI300 Index Rebalance Preview: A Dozen Changes for June
- With three-quarters of the review period nearly complete, there could be 12 changes for the Shanghai Shenzhen CSI 300 Inde (SHSZ300 INDEX) in June.
- We estimate one-way turnover of 1.3% at the June rebalance leading to a one-way trade of CNY 5.06bn. There are a lot of stocks with over 1x ADV to trade.
- There have been big ETF inflows to the CSI 300 Index trackers, but the potential adds have still outperformed the index and the potential deletes.
APAC Insurers Series (#4): How We See the 3 Insurance Stocks in 2024
- PICC P&C’s Q3 underwriting profitability deteriorated due to typhoon/catastrophe-related losses in both motor and non-motor business.
- Samsung Life’s new business growth momentum continued in Q3’23; new business CSM margin slightly improved QoQ.
- Prudential disclosed limited details in its Q3 results but we can see the growth trend of new business volume and profits continuing in the quarter.
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