Chinese Stocks Gain as State-Backed Insurers Advocate Long-Term Investments

Chinese stocks showed resilience with a 0.4% increase in the CSI 300 Index and the tech-heavy Star Market 50 index, along with a 0.3% rise in Hong Kong’s Hang Seng Index. State-backed insurers, including Ping An Insurance Group and the People’s Insurance Group of China, emphasized the long-term investment potential of Chinese stocks, pledging to strengthen their equity holdings. These insurers collectively held over 20 trillion yuan (US$2.96 trillion) in assets by the end of 2025. Furthermore, over 40 listed companies revealed intentions for stock repurchases or stake increments on Monday, totaling an estimated 10 billion yuan. Beijing responded to…