HK Stock Market Move | CHINA RE (01508) rises more than 7% in the morning, JP Morgan expects the company to significantly benefit from the development of marine insurance.

CHINA RE (01508) rose more than 7% in the morning, as of the time of writing, it increased by 7.81% to HKD 1.38, with a trading volume of HKD 34.6053 million. On the news front, the International Maritime Insurance Alliance 2026 Asia Forum was held in Shanghai recently. JP Morgan stated that regulatory authorities have recently launched a series of supportive policies and positioned Shanghai as a maritime insurance hub, with the aim of strengthening China's ability to autonomously manage risks. For a long time, the entire maritime insurance value chain has been dominated by London and other developed markets. The bank believes that CHINA RE is an important medium-term beneficiary, with good conditions to capture the upside potential brought about by the country's efforts to bring back domestic risks. UBS released a research report stating that it has upgraded its investment rating on CHINA RE from "Neutral" to "Buy", with a target price raised from HKD 1.70 to HKD 1.75. The company is predicted to see a 10% year-on-year increase in net profit after tax in the first half of the year to RMB 6.9 billion, mainly driven by the overall growth in insurance services performance, rather than investment income.