HSBC may sell Ping An shares (2)

"HSBC's move is not unexpected, as it needs to peel off part of its non-core business," Li Daxiao, a research director at Yingda Securities Co, told the Global Times Monday.

Li also noted that investors' panic reactions in the stock market are "irrational" as Ping An still witnessed a robust business performance.

Ping An posted a 31.6 percent year-on-year increase in its net profits for the first three quarters this year.

Li said finding a buyer with capital strength is crucial, because the amount of shares is huge, it is impossible to sell them to many small-sized investors at one time.

And Hong Kong Economic Journal reported that Thailand's richest person Dhanin Chearavanont, the owner of CP Group, is one of the likeliest buyers.

Hu Bo, an insurance professor at Renmin University of China, told the Global Times Monday that "we won't likely see a dramatic fluctuation of Ping An in capital markets over the long term, since any sale of China's major insurers must be permitted by the insurance regulators, who are always very cautious about any investment in the insurance sector."

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