HK Stock Market Move | Bank of Zhengzhou (06196) rose more than 4%, receiving an additional 39 million shares from Hongkang Life Insurance, increasing their ownership to 6.68%.

Bank Of Zhengzhou (06196) rose over 4% again, as of the time of publication, it increased by 3.33% to HK$1.24, with a turnover of HK$21.32 million. According to the latest equity disclosure information from the Hong Kong Stock Exchange, from June 27th to June 30th, Hongkang Life Insurance Co., Ltd. increased its holdings of Bank Of Zhengzhou by 39 million shares, with an investment of approximately HK$46.458 million. After the increase, Hongkang Life Insurance Co., Ltd. currently holds 135 million shares of Bank Of Zhengzhou, increasing its shareholding percentage from 4.75% to 6.68%. CICC released a research report today, stating that it is optimistic about the relative and absolute returns of banks, with H-shares performing better than A-shares. The institution's analysis shows that the cost of insurance liabilities is still relatively high compared to the yield of most financial assets, leading to an increased demand for high dividend assets represented by banks. Compared to mutual funds, investing in Hong Kong-listed stocks with insurance funds can exempt dividend tax, making H-share banks more attractive than A-share banks in terms of dividends.