Ping An investment arm questions US allocation
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The company logos are seen at a branch of Ping An Bank, a subsidiary of Ping An Insurance, in Beijing, China, August 27, 2020. REUTERS/Thomas Peter
HONG KONG, March 23 (Reuters) - Insurer Ping An's international arm is questioning further U.S. investments, its CEO said, citing the country's unreliability.
"The key question for me to consider is ... how much and whether you continue to deploy capital into the U.S. because ... the U.S. is becoming less reliable," said Hoi Tung, CEO and Chairman of Ping An Overseas Holdings at a Milken Institute symposium in Hong Kong, when asked about the U.S. and Israeli war on Iran.
"Let's think about whether we should trim down a bit."
Globally some investors have started looking outside the world's biggest capital markets as U.S. policy under President Donald Trump turns unpredictable.
U.S. investors, too, have been pulling money out of their own stock market at the fastest pace in at least 16 years as Big Tech returns fade and better-performing overseas markets look more attractive.
(Reporting by Kane Wu; Editing by Tom Hogue)
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