BUZZ-China Pacific Insurance shares jump on robust earnings forecast

Reuters01-23

** Hong Kong shares of China Pacific Insurance Group 2601.HK jump 6.5% to HK$23.80, their highest since Jan.2

** Stock on course for the biggest one-day pct rise since Oct. 18, 2024

** China Pacific Insurance estimates its 2024 net profit up 55%-70% Y/Y to 42.2 bln yuan-46.3 bln yuan ($5.80 bln-$6.36 bln), thanks to a series of favourable national policies and positive fluctuations in the overall performance of capital markets

** Shanghai-listed stock 601601.SS rises 5.4% to 32.98 yuan, highest since Jan. 2

** The Hang Seng Composite Index tracking financial stocks .HSCIF climbs 0.9% and the Hang Seng Index .HSI adds 0.3%

** Co's Hong Kong stock rose 59.9% last year, while Shanghai shares up 43.3%

($1 = 7.2800 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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