Stock Track | NCI Soars 15.93% on Strong Profit Outlook and Buoyant Markets

Stock Track

Oct 10, 2024

Shares of New China Life Insurance Co. Ltd. (NCI) skyrocketed 15.93% on Thursday, buoyed by the company's robust profit forecast for the nine months ended September 30th, 2024, and a broader market rally fueled by hopes of further economic stimulus measures.

In a filing with the Hong Kong Stock Exchange, NCI revealed that it expects an attributable profit ranging between 18.61 billion yuan and 20.52 billion yuan for the nine-month period, marking a staggering increase of 95% to 115% compared to the same period last year. The insurer attributed this remarkable profit growth to favorable economic conditions, buoyant capital markets, and improved investment performance, as the broader economy continues to recover.

The surge in NCI's stock price coincided with a strong rebound in the Hong Kong markets, with the Hang Seng Index soaring 2.98% and the Hang Seng Tech Index climbing 2.05%. Investor sentiment was further boosted by China's central bank announcing a new 500 billion yuan ($70.7 billion) swap facility to aid the capital market, providing a much-needed boost to investor confidence.

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Ltd. (NCI) skyrocketed 15.93% on Thursday, buoyed by the company's robust profit forecast for the nine months ended September 30th, 2024, and a broader market rally fueled by hopes of further economic stimulus measures.</p>\n\n<p>In a filing with the Hong Kong Stock Exchange, NCI revealed that it expects an attributable profit ranging between 18.61 billion yuan and 20.52 billion yuan for the nine-month period, marking a staggering increase of 95% to 115% compared to the same period last year. The insurer attributed this remarkable profit growth to favorable economic conditions, buoyant capital markets, and improved investment performance, as the broader economy continues to recover.</p>\n\n<p>The surge in NCI's stock price coincided with a strong rebound in the Hong Kong markets, with the Hang Seng Index soaring 2.98% and the Hang Seng Tech Index climbing 2.05%. Investor sentiment was further boosted by China's central bank announcing a new 500 billion yuan ($70.7 billion) swap facility to aid the capital market, providing a much-needed boost to investor confidence.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01336","symbol_name":"新华保险","start_time":0,"source_url":"","article_id":"1175723163","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1175723163","pubTimestamp":1728560216,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of New China Life Insurance Co. Ltd.  skyrocketed 15.93% on Thursday, buoyed by the company's robust profit forecast for the nine months ended September 30th, 2024, and a broader market rally fueled by hopes of further economic stimulus measures.In a filing with the Hong Kong Stock Exchange, NCI revealed that it expects an attributable profit ranging between 18.61 billion yuan and 20.52 billion yuan for the nine-month period, marking a staggering increase of 95% to 115% compared to the sa","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"01336":"新华保险"},"translate_title":"股票赛道NCI因强劲的利润前景和活跃的市场而飙升15.93%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01336":1},"content_text":"Shares of New China Life Insurance Co. Ltd. (NCI) skyrocketed 15.93% on Thursday, buoyed by the company's robust profit forecast for the nine months ended September 30th, 2024, and a broader market rally fueled by hopes of further economic stimulus measures.\nIn a filing with the Hong Kong Stock Exchange, NCI revealed that it expects an attributable profit ranging between 18.61 billion yuan and 20.52 billion yuan for the nine-month period, marking a staggering increase of 95% to 115% compared to the same period last year. The insurer attributed this remarkable profit growth to favorable economic conditions, buoyant capital markets, and improved investment performance, as the broader economy continues to recover.\nThe surge in NCI's stock price coincided with a strong rebound in the Hong Kong markets, with the Hang Seng Index soaring 2.98% and the Hang Seng Tech Index climbing 2.05%. 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