Tue. Sep 29th, 2020

Hong Kong stocks rebound despite latest violence – business live

Most Asian markets rise after China’s rate cut, as investors await further news on trade

9.02am GMT

Ashik Musaddi, European insurance analyst at JPMorgan Cazenove, says Aviva’s decision is somewhat disappointing.

Aviva, following the strategic review, has reported this morning that it has decided to retain its Singapore business and China JV, which we perceive as a small disappointment, as we were expecting a sale of the whole Asia units which could generate £1.5bn-£2bn.

8.56am GMT

The UK insurer Aviva, which sells life, car, household and business insurance, has decided to hold on to its operations in Singapore and joint venture in China, despite receiving takeover offers for the Singaporean business. Both delivered double-digit growth in operating profits last year.

But the company said it is still looking at possibly selling off its businesses in Vietnam, Indonesia and Hong Kong, whose status as a major financial centre in Asia has been knocked by months of pro-democratic protests.

Aviva is continuing to explore strategic options for its operations in Hong Kong, Vietnam and Indonesia, with its respective partners in each country.

Continue reading…Most Asian markets rise after China’s rate cut, as investors await further news on trade 9.02am GMTAshik Musaddi, European insurance analyst at JPMorgan Cazenove, says Aviva’s decision is somewhat disappointing.Aviva, following the strategic review, has reported this morning that it has decided to retain its Singapore business and China JV, which we perceive as a small disappointment, as we were expecting a sale of the whole Asia units which could generate £1.5bn-£2bn. 8.56am GMTThe UK insurer Aviva, which sells life, car, household and business insurance, has decided to hold on to its operations in Singapore and joint venture in China, despite receiving takeover offers for the Singaporean business. Both delivered double-digit growth in operating profits last year.But the company said it is still looking at possibly selling off its businesses in Vietnam, Indonesia and Hong Kong, whose status as a major financial centre in Asia has been knocked by months of pro-democratic protests. Aviva is continuing to explore strategic options for its operations in Hong Kong, Vietnam and Indonesia, with its respective partners in each country. Continue reading…

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