“The report of IA and ICAC joint operation also hit on sentiment for the insurance sector today,” said Steven Leung, executive director at UOB Kay Hian.
Shares connected to Hong Kong insurers fell after authorities started an operation targeting corrupt conduct in the unlicensed sale of insurance policies to mainland customers.
AIA falls as much as 5.6% to the lowest level since April 2017: Manulife -2.4%, Prudential -2.6%.
