On May 17th, Ping An Asset Management responded to First Financial that HSBC Holdings is Ping An's long-term financial investment. HSBC has maintained a unique competitive advantage in Asia. "We have confidence in its long-term development," said Ping An Asset Management.
On the evening of May 16th, there were market reports that Ping An Group of China was considering further selling its holdings of HSBC Holdings.
On May 7th, according to equity disclosure by the Hong Kong Stock Exchange, Ping An Asset Management, a subsidiary of Ping An, reduced its holdings of 5.6488 million shares of HSBC Holdings at an average price of HKD 693074 per share, involving approximately HKD 392 million. After this reduction, Ping An Asset Management's shareholding in HSBC Holdings decreased from 8.01% to 7.98%.
It is worth noting that since February, HSBC Holdings has seen a significant increase, with a rise of over 18% since February 23rd. On April 30th, while announcing its first quarter report, HSBC Holdings announced a new round of up to $3 billion in share repurchases.
Some market insiders have also analyzed First Financial, and it is not ruled out that Ping An Asset Management's reduction of holdings last week was a routine operation in investment behavior, cashing in some returns when the stock price is high.