China insurers tipped to buy big into HK stocks after CIRC move

Chinese insurers have been told that their investments into Hong Kong stocks via the Stock Connect scheme will not be considered part of their foreign allocation, said Larry Wan, chief investment officer of AIA China. This is an important easing of the rules that could spark flows of up to Rmb200 billion ($30 billion) into Hong Kong equities, he told AsianInvestor’s China Global Investment Forum in Beijing yesterday.  The China Insurance Regulatory Commission told industry playe…