BUZZ-China's Ping An Insurance climbs to 3-week high; Nomura lifts target price

Reuters04-24

** Hong Kong-listed shares of Ping An Insurance (Group) Co of China Ltd climb 3.3% to HK$34.10, their highest since April 3, and on course for a third consecutive session of gains

** Stock on track for the biggest one-day pct rise since April 18, and is third-biggest pct gainer in Hang Seng Finance Index and fourth-biggest pct gainer in index, which tracks financials stocks

** Shanghai stock gains 2% to 40.70 yuan, its highest since April 3

** Ping An Insurance's first-quarter net profit fell 4.3%, hit by shrinking returns from property and casualty insurance as well as its asset management operations, the Chinese insurance giant reported on Tuesday

** Nomura maintains "buy" rating on the stock and lifts target price for Hong Kong shares to HK$54.41 from HK$54.12, and Shanghai stock to 50.24 yuan from 49.98 yuan, saying profit beat for all business segments

** Hang Seng Finance Index rises 1.2%, Hang Seng Composite Index tracking financials stocks gains 1.1% and Hang Seng Index adds 1.7%

** Hong Kong-listed stock down 3.7% YTD, while Shanghai shares up 0.6% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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