Ping An wary of China stocks this yr, limits exposure

SHANGHAI, Oct 28 - Ping An Insurance <2318.HK> has been cautious about the Chinese stock market this year and plans to keep its equity exposure in its investment portfolio around 10 percent, Group President Louis Cheung said on Wednesday.

"We have taken a cautious strategy this year for China stocks. We have a positive view on the market next year as the economy recovers further," he told a news conference.

On Tuesday, the Chinese insurer said that low interest rates in the bond market and stock volatility could weigh on profits in the final quarter, as it returned to a quarterly profit, boosted by investment returns.