Ping An slows offshore flows, ramps up in HK stocks

China's Ping An Insurance is quickly building its holdings of Hong Kong stocks but has slowed its allocation to foreign assets generally, even as its investable assets pass the $300 billion mark. The insurer's foreign allocation has only grown 0.8 percentage points since the end of 2016, less than half the 1.8 percentage point rise in the second half of last year. Timothy Chan, chief investment officer, said the second biggest mainland insurer would be very cautious about overse…