CM BANK(600036) 证券时报网·2025-01-15 11:00Core Viewpoint - Insurance capital continues to increase holdings in bank stocks, particularly H-shares, indicating a trend of significant investment activity in the banking sector [1][5][6]. Group 1: Recent Transactions - On January 8 and 10, Ping An Life increased its holdings in Postal Savings Bank and China Merchants Bank H-shares, investing approximately HKD 0.33 billion and HKD 0.73 billion respectively [1][2]. - Following these transactions, Ping An Life holds nearly 1 billion shares of Postal Savings Bank H-shares and over 230 million shares of China Merchants Bank H-shares, with both exceeding 5% of the total H-share count, triggering the disclosure requirement [1][2][3]. - In the past month, Ping An Group and its subsidiary Ping An Life have invested at least HKD 5 billion in multiple H-share banks, including CCB, ICBC, Postal Savings, ABC, and China Merchants Bank [4]. Group 2: Market Trends and Analysis - The banking sector has seen a resurgence, with A-share banks rising over 42% last year, ranking first among 30 major sectors, and four banks experiencing gains exceeding 60% [4]. - The increase in insurance capital holdings is part of a broader trend of insurance companies responding to calls for long-term capital market participation, driven by new financial regulations and declining interest rates [6][7]. - The implementation of new accounting standards (IFRS 9) allows insurance companies to classify stocks with over 5% ownership as long-term equity investments, which aids in stabilizing financial reports and investment returns [7][8]. Group 3: Future Outlook - Analysts predict that the frequency of insurance capital acquisitions will remain high due to low interest rates and the influx of long-term capital into the market [9]. - Insurance investment officers express optimism regarding investment opportunities in Hong Kong stocks, citing significant valuation advantages and favorable market conditions [8].